The global automotive smart display market size is projected to reach USD 6.99 billion by 2027, exhibiting a CAGR of 18.7% during the forecast period. Development of intelligent and flexible displays for vehicles will open new gateways of innovation in this market, postulates Fortune Business Insights™ in its report, titled “Automotive Smart Display Market Size, Share & Industry Analysis, By Size Type (3”-5”, 6”-10”, >10”), By Technology Type (LCD, TFT-LCD, and Others), By Application (Head-up Display, Center Stack, Digital Instrument Cluster, and Rear Seat Entertainment), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2020-2027”.
Several new
companies have emerged that have been developing and introducing novel display
systems for cars and other vehicles to meet the heightening demand for enhanced
vehicular safety. For example, a Finnish startup named Forciot specializes in
developing stretchable automotive electronics with targeted algorithms that can
measure a host of parameters. The data gathered by the sensors in these systems
is projected on heads-up displays for the driver to see. Similarly, FlexEnable,
a startup domiciled in the UK, makes OLCDs to create low-cost,
surface-integrated, and glass-free automotive smart displays. The growing
presence of such specialized entities is expected to accelerate the expansion
of this market in the forthcoming years.
List of Key Companies Profiled in
the Automotive Smart Display Market Report:
- Alpine Electronics (Tokyo, Japan)
- Panasonic (Hsinchu, Taiwan)
- Magna International Inc. (Aurora, Canada)
- Kyocera Display Corporation (Shanghai, China)
- AU Optronics Corporation (Hsinchu, Taiwan)
- Continental AG (Hanover, Germany)
- Robert Bosch GmbH (Gerlingen, Germany)
- Nippon Seiki Co. Ltd. (Niigata, Japan)
- Denso Corporation (Aichi, Japan)
- LG Display Co. Ltd. (Seoul, South Korea)
- Yazaki Corporation (Tokyo, Japan)
- Japan Display Inc. (Tokyo, Japan)
- Valeo SA (Paris, France)
- Delphi Automotive PLC (Dublin, Ireland)
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As per the report, the value of the global market stood at USD 2.90 billion in 2019. The report also covers the following aspects of the market:
- Granular analysis of the market drivers and trends;
- Careful examination of the current and upcoming challenges in the market;
- Tangible research into the regional milieu shaping the market growth; and
- In-depth profiling and exhaustive assessment of the competitive dynamics of the market.
RESTRAINING FACTORS-
Staggered Recovery of the Auto Industry amid
COVID-19 to Limit Market Growth
As the
COVID-19 pandemic exploded in March 2020, several large automakers announced
the temporary closure of plants to comply with lockdown and social distancing
measures. For example, in Europe, Fiat Chrysler announced that it will be
shutting down its plants in Italy, Poland, and Serbia, while Volkswagen pulled
the shutters on its plants in Spain and Italy. In the US, Ford and General
Motors halted production activities for two weeks, while Volvo decided to close
down its only plant in the US for three weeks.
The
automotive smart display market growth was naturally affected by these
closures, but the market is en route to a staggered recovery as carmakers
resume their manufacturing operations. For example, in November 2020,
automakers in Detroit, led by Ford, General Motors, and Fiat Chrysler,
announced their decision to keep their production plants running at full
capacity, even as new cases erupted across Michigan.
Read a Detailed Summary of This Report:
REGIONAL INSIGHTS-
Rising Stringency of Vehicle Safety
Regulations to Aid the Asia Pacific Market
Increasing
number of road traffic accidents have forced governments in Asia Pacific to
tune up the stringency of regulations governing vehicle safety dynamics. As a
result, car manufacturers have been forced to augment their vehicles advanced
safety solutions, which is bolstering the region’s leading position in the
automotive smart display market share. In addition to this, growing demand for
premium cars in India and China is also anticipated to create lucrative
opportunities for market players. The Asia Pacific market size stood at USD 1.34 billion in 2019.
In North
America, increasing demand for smart infotainment systems in vehicles and high
purchasing power of consumers are fueling the growth of the market. In Europe,
the prominent growth stimulant is the strong presence of automotive giants such
as Volkswagen and BMW and their massive investments in vehicle electronics.
COMPETITIVE LANDSCAPE-
Introduction of Innovative Display Solutions
by Key Players to Shape Competition Dynamics
The
automotive smart display market players are focused on engineering and
launching next-generation display solutions to cater to the surging demand for
efficient in-vehicle displays in the auto industry. To achieve this goal, key
players in this market are constantly enhancing their research capabilities to
develop cutting-edge products and strengthen their market position.
INDUSTRY DEVELOPMENTS:
- January 2020: Valeo partnered with Hyundai and Hexagon, a leader in high-precision GPS technology, and a major mobile network company to release a game-changing technology that will allow the detection of a vehicle’s exact position on the road. Called High-Precision Positioning (HPP), the system will enable onboard navigation systems to display more user-friendly and accurate maps.
- January 2020: LG Display unveiled its Plastic OLED displays at the CES 2020 to provide superior image quality and high-end designs to car enthusiasts. The company will showcase its signature automotive displays such as the 14-inch Cluster and the 12.3-inch Co-Driver Display that are programmed to project dynamic vehicular information.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-automotive-smart-display-market-10435
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