NEW YORK, The automotive smart display market to grow at a CAGR of 5.1% during the forecast period 2022-2032 and estimated the market valuation at USD 7.5 Billion in the assessment period 2022.
Lighting is a salient part of automotive vehicles since it throws light on the driving path, enabling the driver to see the road. The lighting system adds to the aesthetics of the interior and exterior of the vehicle while enhancing the vehicle’s visibility.
The European market is predicted to secure the forefront position in the global market. The German automotive smart display market is the most prominent manufacturer and consumer of automotive smart displays in the European market. The regional market is projected to expand at a CAGR of 5.9% during the forecast period.
The increasing demand for semi-autonomous and autonomous vehicles, growth in luxury and high-end cars, and demand for better customer experience are expected to play a significant role in driving the market during the forecast period.
However, the outbreak of COVID-19 brought a negative impact on the market. With the fall of sales in vehicles, the automotive smart display market experienced a significant fall in the market graph. Further, a lack of interest from OEM in investing in advanced technologies for the coming one or two years is speculated to be a major setback to the market.
Key Takeaways:
Automotive smart display in Europe to be estimated at 26.4% in revenue terms Growth rate in Europe projected at 5.2% during the forecast period from 2022 to 2032 Collective share of USA, Germany, and China, which are the top 3 contributing countries anticipated to hold a value of 46% LCD segment to secure a market share of 2/5th and expand at a CAGR of 4.8% during the forecast period. North America to expand at a CAGR of 4.6% during the forecast period 6″-10″ Smart Display Size segment to expand at a CAGR of 5.7% during the assessment period. The mid-sized passenger cars segment to grow at a CAGR of 4.3% during the forecast period
Growth Drivers:
The syncing of smartphones with Spotify, Apple CarPlay and Android Auto is expected to increase the demand for smart displays in the vehicle. Growing demand for high-end cars segment to augment the market expansion during the forecast period.
Restraining Factors:
The increasing risks of cyberattacks to hamper the market growth in the forecast period. The vehicle can be hacked even if external devices are not connected to the automotive cockpit electronics system of the vehicles. All advanced cockpit electronics systems are connected to the internet and the data is stored in the cloud database or the research centers of the OEMs.
Competitive Landscape:
The players of the global smart display market are focusing on expanding their market reach. Various strategies such as; expansions, partnerships, collaborations, and acquisitions are some of the adopted methods to augment the expansion of the industry.
On 30th July 2021, Alpine Electronics Inc. and IDEC inked a venture agreement to make profitable business by tapping expertise to deliver optimal products for industrial equipment markets and factory automation. On 14th April 2021, Kyocera Corporation and TactoTek Oy, announced partnership to develop and manufacture IMSE parts in it Japanese based production facility.
Key Companies Profiled
Yazaki Corporation AU Optronics Continental AG Visteon Corporation Nippon-Seiki Co, Ltd. Magna International Inc. Alpine Electronics Inc. Delphi Automotive PLC Japan Display Inc. LG Display Valeo SA Denso Corporation Robert Bosch GmbH Panasonic Corporation Kyocera Corporation Pioneer Corporation
More valuable Insights on Automotive Smart Display Market
Fact.MR, in its report, offers a market analysis of the global Automotive Smart Display analyzing forecast period through 2022 and beyond. This survey reveals the growth of technology in the Automotive Smart Display Market with detailed segmentation as follows: –
By Display Size 3″-5″ 6″-10″ >10″By Display Technology TFT-LCD LCD Other Display TechnologyBy Application Centre Stack Touchscreen Display Advanced Instrument Cluster Display Rear Seat Entertainment Touchscreen Display Other ApplicationsBy Vehicle Type Mid-sized Passenger Cars Compact Passenger Cars Light Commercial Vehicles Premium Passenger Cars Luxury Passenger Cars Heavy Commercial Vehicles
Key Questions covered in the Automotive Smart Display Market Report
What is the global automotive smart display market scenario? How far is the global demand expected to reach over the forecasted period? Which is the leading region in the automotive smart display market? What was the last 5-year CAGR for the demand in the demand in the automotive smart display market? Who are the prominent players in the global automotive smart display market?
Explore Fact.MR’s Coverage on the Automotive Domain –
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