The global automotive display system market was valued over US$ 14.4 Bn in 2021. It is estimated to expand at a CAGR of 7.5% from 2022 to 2031. The global automotive display system market is expected to cross value of US$ 29.7 Bn by the end of 2031
Automotive display system is digital screen integrated in vehicles for communicating vital information to the driver and other infotainment related information to both driver and passenger. Automotive display system is generally attached on vehicles dashboard and multiple new locations are also being preferred. The automotive business is constantly evolving, with a growing emphasis on improving vehicle display technologies. Several automakers displayed their new concept cars, which integrate linked automobile technologies. These extremely advanced display systems used in automobiles give convenience and comfort as well as access to the most recent technologies.
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Automobile cabins have seen substantial transformations as more human-centric technology has been integrated to provide improved safety, comfort, and ride experience. Display system which have become an intrinsic feature of cars, play a critical role in this shift. With the growing demand for advanced automotive display systems, driving has become safe, as these systems assist the vehicle driver with crucial vehicle information including advanced real time vehicle diagnostics such as tire pressure and engine heat.
The syncing of smartphones with infotainment systems, such as Android Auto, Spotify, and Apple Car-Play will increase the demand for smart displays in vehicles. Both Apple Car-Play and Android Auto are similar in that they involve the usage of smartphones to run the operating systems, which have been optimized for road applications. The systems enable easy navigation, integration of advanced features with cockpit electronics, easy access to music, phone call management, etc., without distracting the driver. Both the operating systems also integrate voice assistants, such as Apple Siri and Google Assistant, to deliver a hands-free experience. Cars must have the correct kit to run the operating systems, and more manufacturers are embracing them, often allowing a support feature as a standard inclusion on their infotainment systems or at least as an option. Thus, in turn, is likely to boost the growth of automotive display system market during the forecast period.
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Rise in Sales of Automobiles to Drive Demand for Automotive Display Systems
Rise in sales of passenger cars across the globe has driven the automotive display system market. It is a desired component of a vehicle, which provides direction and ease of accessibility in vehicles. Increasing investment on luxury cars is another factor that is boosting the demand for display systems. Moreover, propelling demand for infotainment system in cars is supporting market growth.
The rise in demand for automobiles is estimated to boost the automotive display system market. Overall, reduction in tax is likely to help reduce the burden on consumers, which is estimated to drive investment in vehicle technology and development. However, a rise in integration of display system in vehicles due to an increase in preference for vehicle safety is likely to propel the automotive display system market during the forecast period.
Automobile manufacturers are expanding their manufacturing facilities in response to rising demand. Established automakers, such as BMW AG and Maruti Suzuki India Limited, are investing heavily in manufacturing facilities. Automotive display systems are experiencing rapid expansion as a result of many improvements by industry players to attract customers. Established manufacturers, such as Yazaki Corporation, HARMAN International (acquired by Samsung Electronics), and Magnachip Semiconductor Corporation, are investing in their research & development facilities for innovations in advanced automotive display system.
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Vehicle integrated with advanced display system witness high demand, which plays a major role in the economy of a country, generation of revenue, and increase of regional market share. Rising disposable income of consumers is a key factor that drives the automobile sector and increase the demand for automotive display systems.
The global automotive display system market is fragmented with a high number of manufacturers controlling a significant share of the global market. Key companies see the potential to increase the rate of growth by way of launches of new display technologies, thereby creating new use cases for application. Expansion of product portfolios and mergers & acquisitions are major strategies adopted by key players. Some of the key manufacturers identified in the automotive display system market across the globe are Robert Bosch GmbH, Continental AG, Denso Corporation, Alpine Electronic, Inc., Aptiv Inc., Valeo SA, LG Display Co., Ltd., Panasonic Corporation, Nippon Seiki Co., Ltd., AU Optronics Corp., Visteon Corporation, YAZAKI Corporation, Magna International Inc., and Pioneer Corporation.
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