Automotive display market worth $9.8 billion by 2022, study says
Market drivers are factors such as progress in developing semi-autonomous and autonomous vehicles, increasing adoption of automotive display applications by OEMs, and increasing demand for safety and comfort features from consumers.
With advancement of technology, the automotive display applications have witnessed rapid evolution during the last decade. Growing in-vehicle safety and comfort functions have contributed to the growth of automotive display applications that are now offered by OEMs. In some countries, government regulations such as mandatory in-vehicle GPS systems for commercial vehicles and mandatory rear view sensors and back up cameras in passenger cars are expected to increase the market for advanced center stack touchscreen displays in vehicles, the experts from MarketsandMarkets write.
In case of commercial vehicles, display applications are used for navigation purpose and telematics. The market for center stack touchscreen displays will continue to grow at a steady pace, given their increasing use in premium light duty vehicles and heavy duty vehicles. The market would also be driven by the increase in consumer demand for center stack touchscreen displays in economic passenger cars in cost sensitive automotive markets of China, Brazil and India.
The 6″-10″ smart display size for automotive applications is projected to grow at a high CAGR during the forecast period. The market growth of this display size can be attributed to increasing in-vehicle display applications in light duty vehicles. Vehicles with display application of 6″-10″ are equipped with advanced center stack touchscreen displays that integrate multimedia and navigation functions in one application. Increasing enhancement of advanced instrument cluster has increased the market for over 7-inch display size of the advanced instrument cluster display. Rapid progress in electric and autonomous vehicles will also drive the demand for 6″-10″ displays for automotive applications.
Asia-Oceania comprises countries such as China and India, which are major automotive hubs in terms of vehicle production as well as sales. The demand for smart displays in automotive is directly linked to the vehicle production and consumer demand in this region. The region also comprises Japan, a technologically advanced market with a growing consumer demand for advanced automotive electronics in the cockpit and passenger entertainment. The region is also home to key automotive display panel manufacturers such as LG Display (South Korea), Japan Display Inc. (Japan), and Kyocera Corporation (Japan) among others. Hence, with the shift of automobile manufacturing plants to developing countries, the companies involved in manufacturing automotive display applications and their components have started focusing on these markets.
The Smart Display market for automotive applications is dominated by a few global display suppliers and comprises several regional players. Some of the key display suppliers operating in the market are Kyocera Corporation (Japan), LG Display Inc. (Korea), Japan Display Inc. (Japan), AU Optronics (Taiwan), and Nippon Seiki Co, Ltd. (Japan).
More information can be found in the report entitled “Smart Display Market for Automotive by Application, Display Size (3″-5″, 6″-10″, & >10″), Display Technology (LCD, TFT-LCD, & Other Advanced Technologies), Level of Autonomous Driving (Conventional & Semi-autonomous), Vehicle Type, and Region – Global Forecast to 2022″
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