Automotive Smart Display Market Analysis

Automotive Smart Display Market Overview:

Global Automotive Smart Display Market Size was valued at USD 8.12 Billion in 2023. The Automotive Smart Display market industry is projected to grow from USD 8.78 Billion in 2024 to USD 15.24 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.13% during the forecast period (2024 - 2032). Increasing customer awareness of safety features and automobile smartphone connectivity are the key market drivers enhancing market growth.

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Automotive Smart Display Market Trends

Growing Adoption of OLED displays is driving the market growth

Market CAGR for automotive smart displays is driving the increasing popularity of OLED displays, the development of AR-based technologies, and the introduction of autonomous vehicles. It is widely believed that the rapid advancement of cutting-edge technologies like big data, AI, and autonomous driving will enhance the global automotive industry to introduce significant shifts in production, sales, and overall business models. Demand for automotive smart displays is expected to grow due to the issues mentioned above in the future.

Additionally, introducing 5G technology would open up numerous doors in this sector, given the ever-growing demand for wireless services. With the high-speed internet made possible by 5G networks, cutting-edge technologies like cloud gaming, augmented reality, virtual reality, and video streaming can be integrated into automobile smart display systems. Manufacturers are incorporating wireless capabilities in smart displays by heavily utilizing solutions in the Internet of Things industry to give customers a portable display experience and make the system more user-friendly. Smart displays are being used more frequently in applications such as heads-up display systems and in-car entertainment systems for passengers in the back. Therefore, the increasing prevalence of automotive smart displays is fueling the growth of the international market.

For instance, in Abstatt and Magny-Cours' collaborative innovation initiative, Bosch Engineering and Ligier Automotive professionals developed a high-performance car powered by a hydrogen fuel cell. The Ligier JS2 R race vehicle inspired the demonstrator, which was adapted for use with hydrogen fuel. With this cutting-edge racecar, the two firms show how alternative, environmentally friendly propulsion systems may be used in high-performance contexts like motorsport. As a result, the demand for automotive smart displays is predicted to grow throughout the forecasted time due to the rising demand for OLED panels. Thus, the driving factor is the automotive smart display market revenue.

Automotive Smart Display Market Segment Insights:

Automotive Smart Display Technology Market Insights

The global automotive smart display market segmentation, based on display technology, includes liquid crystal display (LCD), thin-film transistor liquid crystal display (TFT-LCD), and Others. In 2022, the thin-film transistor liquid crystal display (TFT-LCD) segment led the automotive smart display market in revenue because of its many advantages in the competitive automotive industry, including high resolution, high brightness, dependability, and low cost. Videos from a DVD, camera, or other video input can be displayed in monochrome or full color on a TFT-LCD panel, and the panel can also be used as a multi-character display incorporating data from other sources.

Automotive Smart Display Driving Level Insights

The global automotive smart display market segmentation, based on driving level, includes semi-autonomous and conventional. The semi-autonomous is anticipated to grow at a CAGR of 8.20% over the projected period, making up the largest market share because using semi-autonomous cars can quickly and easily meet the need for on-demand mobility. Compared to a completely autonomous fleet of ride-sharing vehicles, these ideas are safer and easier to control without sacrificing autonomy, sustainability, or convenience.

Automotive Smart Display Size Insights

The global automotive smart display market segmentation, based on the display size, includes up to 5", 5’-10", and Above 10. The 5’-10" category is expected to grow fastest at a CAGR of 8.20% because products make the most money in the 5 "-10" range. The most common vehicles that have 5 "-10" smart displays installed are SUVs and midsize cars. Adoption of autonomous and semiautonomous vehicles in the 5" to 10" inch size bracket is being accelerated by the rising coupling of electronic systems with safety and security features and the expanding use of in-vehicle smart display applications.

Automotive Smart Display Vehicle Type Insights

The global automotive smart display market segmentation, based on the vehicle type, includes passenger and commercial vehicles. The passenger car category is expected to grow because passenger car sales will rise as important OEMs introduce new technologies that enhance these vehicles' driving experience and fuel economy.

Automotive Smart Display Sales Channel Insights

The global automotive smart display market segmentation, based on sales channels, includes OEM and Aftermarket. The connectivity management is anticipated to grow at a CAGR of 8.20% over the projected period because the production costs of OEM goods are much lower because of economies of scale. In addition, the corporation that buys these products can use them to construct systems without operating their factories.

Figure 1: Global Automotive Smart Display Market by Sales Channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Automotive Smart Display Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American automotive smart display market will dominate because there is a growing need to include safety features in vehicles to protect the occupants' and pedestrians' safety due to the rising rates of vehicle ownership and traffic collisions.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global Automotive Smart Display Market Share By Region 2022 (Usd Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s automotive smart display market accounts for the second-largest market due to the growing interest in personal automobiles. Further, the automotive smart display market held the largest market share, and the UK automotive smart display market was the fastest-growing market in the European region.

The Asia-Pacific automotive smart display market is expected to grow at the fastest CAGR from 2024 to 2032 due to the increasing research and development efforts for the automotive smart display sector and the widespread implementation of advanced technology such as 5G connectivity. Moreover, China’s automotive smart display market held the largest market share, and the Indian automotive smart display market was the fastest-rising market in the Asia-Pacific region.

Automotive Smart Display Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Automotive Smart Display market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's global footprint, with important market developments including new product launches, contractual agreements and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the automotive smart display industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the global automotive smart display industry to benefit clients and increase the market sector. In recent years, the automotive smart display industry has offered some of the most significant technological advancements. Major players in the automotive smart display market, including Visteon Corporation (US), Denso Corporation (Japan), LG Display (South Korea), Alpine Electronics Inc. (Japan), Valeo SA (France), Magna International Inc. (Canada), Delphi Automotive PLC (UK), Robert Bosch GmbH (Germany), Nippon Seiki Co. Ltd (Japan), Yazaki Corporation (Japan), Panasonic Corporation (Japan), AU Optronics Corporation (Taiwan), Gentex Corporation (US), Garmin Ltd. (US), Continental AG (Germany), and others are attempting to grow market demand by investing in research and development operations.

DENSO is a leading mobility provider worth $47.9 billion. The company creates cutting-edge technology and components for virtually every vehicle. At its core, DENSO is a manufacturing company that invests in over 200 locations worldwide to create satisfying employment opportunities and to manufacture innovative products in electrification, powertrain, thermal, and mobility electronics. In March 2023, United Microelectronics Corporation's subsidiary, United Semiconductor Japan Co., Ltd., and DENSO CORPORATION, a world leader in mobility solutions, announced a partnership to mass produce insulated gate bipolar transistors* (IGBT) in USJC's 300mm fab.

Continental creates innovative products and services that improve the mobility of people and commodities in a sustainable and connected way. The organization has been around since 1871 and specializes in providing technological solutions for the transportation industry, including automobiles, machinery, traffic, and transportation. In May 2023, Continental and Aurora Innovation, Inc. partnered together to bring the Aurora Driver, Aurora's flagship integrated hardware and software technology, to market in its first commercially scaled iteration. The organizations will work together to create a scalable autonomous system for the trucking business and design, develop, validate, deliver, and support the system.

Key Companies in the Automotive Smart Display Market include

• Visteon Corporation (US)


• Denso Corporation (Japan)


• LG Display (South Korea)


• Alpine Electronics Inc. (Japan)


• Valeo SA (France)


• Magna International Inc. (Canada)


• Delphi Automotive PLC (UK)


• Robert Bosch GmbH (Germany)


• Nippon Seiki Co. Ltd (Japan)


• Yazaki Corporation (Japan)


• Panasonic Corporation (Japan)


• AU Optronics Corporation (Taiwan)


• Gentex Corporation (US)


• Garmin Ltd. (US)


• Continental AG (Germany)

Automotive Smart Display Industry Developments

March 2023:NTT DATA and DENSO have begun constructing an EV battery industry-wide ecosystem to provide globally trustworthy dataspaces where only relevant data is shared while preserving personal information.

May 2023: Delphi Technologies, a BorgWarner Inc. trademark. The discs are a high-carbon alloy bi-metal that saves more than 15 percent of weight compared to a solid cast-iron disc, allowing for more efficient fuel use. This two-piece design improves comfort and the on-road experience by dampening vibrations and noise.

Automotive Smart Display Market Segmentation:

Automotive Smart Display Technology Outlook

• Liquid Crystal Display (LCD)


• Thin-film Transistor Liquid Crystal Display (TFT-LCD)


• Others

Automotive Smart Display Driving Level Outlook

• Semi-Autonomous


• Conventional

Automotive Smart Display Size Outlook

• Up to 5”


• 5’-10”


• Above 10

Automotive Smart Display Vehicle Type Outlook

• Passenger Car


• Commercial Vehicle

Automotive Smart Display Sales Channel Outlook

• OEM


• Aftermarket

Automotive Smart Display Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America