SAN FRANCISCO, June 13, 2023 /PRNewswire/ — The global automotive smart display market size is expected to reach USD 20.07 billion by 2030, registering at a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The growing demand for advanced safety features, automotive and cockpit electronics, and semi-autonomous and autonomous vehicles is expected to drive market growth. The increasing demand for improved in-vehicle experience and the changing consumer buying behavior, along with the growth of luxury, premium, and high-end cars worldwide, is also expected to fuel the automotive smart display industry demand over the forecast period.
Key Industry Insights & Findings from the report:
- In terms of display size, the greater than 10″ size segment is expected to register the highest CAGR over the forecast period owing to the increase in the number of semi-autonomous, autonomous vehicles and the adoption of advanced driver assistance system (ADAS) is attributed to the growth of this segment.
- In terms of display technology, the TFT-LCD segment dominated the global market in 2022 and is anticipated to generate a revenue of over USD 6 billion by the end of the forecast period. The increase in electric vehicles and government initiatives is expected to increase the demand for the TFT-LCD segment in the future.
- In terms of application, the center stack display segment accounted for the largest revenue share in the global market in 2022. Technological developments in self-driving and connected cars are expected to propel the demand for center stack displays in vehicles.
- The Asia Pacific market accounted for the largest market share in 2022 of the global market. This is attributed to increased production and sales of passenger vehicles in the region. The development of advanced technologies such as artificial intelligence, machine learning, and augmented reality is also leading to the growth market in the region.
Read full market research report, “Automotive Smart Display Market Size, Share & Trends Analysis Report By Display Size (Less than 5”, 5”-10”, Greater than 10”), By Display Technology, By Application (Digital Instrument Cluster, Center Stack), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Automotive Smart Display Market Growth & Trends
The surge in demand for vehicle navigation and connectivity systems in the automotive sector led to a growth in the usage of automotive visualization technology. Visualization technology has played a significant role in advancement of the cockpit technology, which has led to the incorporation of interactive and smart displays in several vehicles launched by prominent automakers such as Jaguar Land Rover, Mercedes-Benz, Volkswagen, Audi, and BMW. Moreover, the technology is also gaining prominence among automotive display suppliers with an uptick in demand for automotive in-vehicle infotainment solutions as well as display solutions to increase the growth of the market. For instance, in June 2022, AB Volvo and video game and software developer Epic Games, Inc. announced its collaboration for providing visualization technology in Volvo’s fully electric vehicles. Furthermore, this is expected to provide infotainment systems with two times faster speeds, and higher quality graphics as compared to previous Volvo’s previous car models which is expected to boost the growth of the market.
The adoption of autonomous cars is expected to increase the growth of the market as connected cars provide a more advanced platform for smart displays to function, as they enable real-time connectivity to the internet and other devices. Moreover, the increasing use of advanced driver-assistance systems (ADAS) in connected cars is also driving the demand for more automotive smart displays. ADAS features such as lane departure warnings, blind-spot monitoring, and collision avoidance systems require high-quality displays to provide drivers with clear and concise information. Numerous key players are taking initiatives on automated driving for increasing the adoption of automotive smart displays. For instance, in January 2023, automotive parts manufacturing company Continental AG announced its partnership with edge artificial intelligence (AI) semiconductor company Ambarella, Inc., for developing advanced driver assistance systems and automated driving. The two companies are expected to manufacture end-to-end based artificial intelligence (AI) hardware and software solutions, for assisted and automated driving for increasing autonomous mobility in the automotive market.
Automotive Smart Display Market Segmentation
Grand View Research has segmented the global automotive smart display market based on display size, display technology, application, and region
Automotive Smart Display Market – Size Outlook (Revenue, USD Billion, 2018 – 2030)
- Less than 5”
- 5”-10”
- Greater than 10”
Automotive Smart Display Market – Technology Outlook (Revenue, USD Billion, 2018 – 2030)
- LCD
- TFT-LCD
- OLED
- Others
Automotive Smart Display Market – Application Outlook (Revenue, USD Billion, 2018 – 2030)
- Digital Instrument Cluster
- Center Stack
- Head-Up Display (HUD)
- Rear Seat Entertainment
Automotive Smart Display Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Spain
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East and Africa
List of Key players in Automotive Smart Display Market
- Alps Alpine Co., Ltd.
- Continental AG
- Denso Corporation
- Hyundai Mobis
- Nippon Seiki Co., Ltd.
- Panasonic Corporation
- Pioneer Corporation
- Robert Bosch GmbH
- SAMSUNG (HARMAN International)
- Visteon Corporation
Check out more market research studies published by Grand View Research:
- Automotive Infotainment Market – The global automotive infotainment market is expected to reach USD 15.13 billion by 2030, to expand at a CAGR of 9.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increase in the demand for advanced safety features, self-driving vehicles, digital cockpits for driver assistance, and entertainment purposes is driving the growth of the automotive infotainment market. Further, changing consumer preference toward technologically advanced products and the capability of the automobile infotainment system to anticipate and fulfill customers’ desires are the key factors contributing to the growth of the overall automotive infotainment market.
- Center Stack Display Market – The global center stack display market size is expected to reach USD 14.40 billion by 2027, expanding at a CAGR of 13.4% over the forecast period, according to a study conducted by Grand View Research, Inc. Demand for center stack systems is anticipated to reach 199.75 million units by the year 2027. Rising sales of the passenger vehicles in the developed and developing countries are expected to bolster the market growth in future. Moreover, increasing inclination of vehicle OEMs towards these systems is significantly contributing to the growth of the market.
- Smart Parking Systems Market – The global smart parking systems market is expected to reach USD 30.16 billion by 2030 and expand at a significant CAGR of 22.1% from 2023 to 2030 according to Grand View Research, The smart parking systems market is expected to witness remarkable growth during the forecast period owing to the subsequent rise in traffic congestion and an increasing number of automobiles on roads. Further, an increase in the number of smartphone users worldwide simultaneously increases the number of users to park, pay, and book the slots in advance over mobile apps, supporting the smart parking systems market growth.
Browse through Grand View Research’s Automotive & Transportation Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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