Automotive Display Market Size worth $30bn by 2025
Published Date: March 22, 2019 Authors: Preeti Wadhwani, Shubhangi Yadav
Automotive Display Market size is predicted to reach USD 30 billion by 2025; according to a new research report by Global Market Insights, Inc. The global industry shipments will witness more than 10% growth between 2019 and 2025.
The automotive display market is undergoing rapid expansion with advancements in new age automotive technologies, such as autonomous vehicles, creating the demand for more sophisticated display systems. Advanced Driver Assistance Systems (ADAS), autonomous, and connected cars are enabling automakers to bring new developments, such as augmented reality-based head up displays, in the market.
The market is expected to have a lucrative growth with a focus on increasing the number of interactive surfaces in passenger cars. The improvements in human machine interface technologies is one of the major areas of work by display manufacturers. This is bringing more intuitive display panels for head up displays, rear seat entertainment, and center stack displays in the automotive display market.
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Center stack displays are projected to grow at a CAGR of over 14% with unit shipments surpassing 195 million by 2025 in the automotive display market. These displays are being largely adopted in a majority of luxury as well as mid-range cars. Center stack displays are gaining traction with the necessity of entertainment and media features as well as navigation systems. The growth in the demand for larger center stack displays is another driver adding to the growth of the automotive display market. The companies are bringing larger display panels to improve the effectiveness, user experience, and interactivity of these display panels. MG Hector, a new SUV offering by MG Motors, is implemented with a large 10.4" center stack display, which provides multiple features including climate controls, media, and navigations. Byton, which is a Chinese electric vehicle startup, has introduced 42” center stack display in its upcoming SUV M-Byte. The inclination toward larger display panels by automakers will propel the growth of the market.
Browse key industry insights spread across pages with 291 market data tables & 24 figures & charts from the report, “Automotive Display Market Size By Product (Center Stack Display, Instrument Cluster Display, Head-Up Display, Rear-seat Entertainment Display), By Screen Size (<5”, 5”-10”,>10”), By Display Technology (TFT-LCD, OLED), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025 ” in detail along with the table of contents:
The increasing awareness about vehicle safety in developed countries has influenced the automotive display market particularly due to the demand for head up displays. The market for head-up displays is valued at around USD 1.5 billion in 2018 and is expected to reach over USD 4 billion by 2025. Head up display technologies are widely being adopted by premium car manufacturers such as Lexus, Mercedes-Benz, and BMW. Continental AG has reported increased sales of HUDs from the European region countries contributing to the automotive display market growth. These displays enable the projection of necessary driver information directly on the windshield of a car including speed, distance, notifications, and fuel indication. This has helped to significantly reduce the driver distraction from the road surface, providing the necessary information. The emergence of augmented reality technology has further added to vehicle safety. The AR-based head up displays provide situation-specific information, which includes external objects, their distance, collision warnings, and other information. These features are expected to drive the growth of the market.
Asia Pacific is expected to be the key region for the automotive display market. Asia Pacific countries are witnessing significant growth in automotive production. India, for instance, in 2018, witnessed a growth of 8% in automotive production while it was 9% for Taiwan according to the International Organization of Motor Vehicle Manufacturers (OICA). The automakers are inclined to implement the display systems in a greater number of car models including economy class vehicles such as Hyundai Grand i10 and Tata Tigor, Renault Kwid. Moreover, the Asia Pacific region has the presence of large automotive markets including China and India. The manufacturers are preferring the Asia Pacific region owing to the availability of resources such as cheap raw materials and labor force. Tesla has invested USD 5 Billion to build its new manufacturing facility ‘Gigafactory 3’ in China. The Asia Pacific region, hence, is expected to significantly contribute to the growth of the automotive display market.
Robert Bosch, Visteon, DENSO Corporation, and Panasonic Automotive Systems are some of the major players in the automotive display market. Owing to the need for new product developments due to the growing competition, manufacturers are bringing in newer and highly capable display systems in the market. Visteon, in November 2018, opened its new tech center in Goa, India to develop AI and ADAS technologies. The companies are bringing in new display technologies, such as 3D touch surface, full windshield-head up display, and digital cockpits, in the market. The full windshield head-up display technology was introduced by Sun Innovations, allowing the whole car windshield to be projected with the necessary driver information. The adoption of OLED panels by display manufacturers has enabled the designing of flexible and transparent display products.
The automotive display market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and unit shipments from 2015 to 2025 for the following segments:
By Product (Revenue, Shipments)
- Head-up displays
- Centre stack displays
- Instrument cluster displays
- Rear seat entertainment displays
By Screen Size (Revenue, Shipments)
- < 5”
- 5” to 10”
By Display Technology (Revenue)
- TFT LCD displays
- OLED displays
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa