Global automotive smart display market

Global Automotive Smart Display Market Size, Share, Growth Analysis, By Type(LCD display, TFT-LCD display and OLED display), By Display size(3”-5”, 5”-10” and >10”), By Vehicle Type(Passenger vehicle and commercial vehicle), By Application(Advanced instrument clusters, centre stack) - Industry Forecast 2024-2031

Report ID: SQMIG25A2091 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 114 | Figures: 68

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Automotive Smart Display Market size was valued at USD 8.81 billion in 2019 and is poised to grow from USD 9.67 billion in 2023 to USD 20.12 billion by 2031, growing at a CAGR of 9.6% in the forecast period (2024-2031).

There are many major players available in the market. Some of the key players include Bosch(Germany), Continental (Germany), DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Panasonic (Japan), Pioneer (Japan) and Yazaki (Japan). To expand their business these companies use both organic growth strategies as well as inorganic strategies such as new product development, mergers & acquisition, collaboration, partnership and expansion. Continental AG is one of the dominant players as its goal is to develop driverless cars and advanced connectivity solutions. 'Alps Alpine Co., Ltd.', 'Delphi Automotive PLC', 'Kyosera Display Corporation', 'Continental AG', 'Denso Corporation', 'Hyundai Mobis', 'Nippon Seiki Co., Ltd.', 'Panasonic Corporation', 'Pioneer Corporation', 'Robert Bosch GmbH', 'Visteon Corporation'

Incorporation of smartphone connectivity features in vehicles with infotainment systems such Android auto, Spotify, Apple Car play is expected to drive the automotive smart displays market. These systems enable easy navigation with inclusion of advanced features like music control, call management all without causing distraction to the driver. Voice assistants like Siri or Google assistant can also be integrated into the system for a hands free experience.

Announcement of 5G technologies and increasing popularity of wireless technologies are beneficial for this market. 5G networks provide access to high speed internet which is required for the usage of advanced features like Augmented reality, virtual reality & cloud gaming with the advanced smart displays. Usage of IoT to integrate wireless features in smart displays and provide a portable display experience and enhance customer comfort.

Asia Pacific accounted for a notable share of revenue of over 50% and is expected to show high growth rate during the anticipated period. The reasons for this may be growth in the number of road accidents and the increasing awareness regarding vehicle safety features for the wellbeing of the drivers and the pedestrians. China accounted for almost 50% of the total passenger vehicle sales. It is the market leader in production and sales of passenger cars. The increasing demand for aftermarket advanced smart displays in India is also responsible for the surge in market growth in this region.

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