Automotive Smart Display Market Latest Technologies, Competitive Landscape, Future Scope and Demand Study, 2028

Posted on 2022-08-17 by researchinsights in Automotive, Industrial, Technology // 0 Comments

San Francisco, Calif., USA, Aug 17, 2022 — /EPR Network/ —

Automotive Smart Display Industry Overview

The global automotive smart display market size was valued at USD 11.37 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The increasing demand for advanced functions, including navigation, multimedia systems, driver assistance, and connected car features, and the improving driver-to-vehicle communication are anticipated to boost the use of the smart display in the automotive sector. Furthermore, the growing demand for enhanced safety, comfort, and convenience in automobiles, especially in developing and mature economies, is anticipated to propel the market growth over the forecast period. The rise in the demand for autonomous and semi-autonomous vehicle technology and the growth of the high-end and luxury car segments, especially in the emerging markets, are also expected to offer growth avenues for the market over the forecast period.

The use of smart displays for automotive applications is growing at a rapid pace. The market relies on the demand trends in the automobile industry, the progress toward developing autonomous vehicles, technological advancements in cockpit electronics, and buyer preferences. Moreover, smart displays play an essential role in making critical driver assistance functions available on a single-touchscreen platform.

Gather more insights about the market drivers, restraints and growth of the Global Automotive Smart Display market

Technologies such as gesture control systems, advanced infotainment systems, head-up displays, telematics, central controllers, and steering-mounted controls are increasingly being used in passenger vehicles for safety, comfort, luxury, and security benefits. The governments of several countries across the globe are implementing regulations pertaining to vehicle safety and security. This has prompted the demand for electronic devices, including smart displays, across the globe.

The in-vehicle infotainment systems and electronic components play a significant role, particularly for commuters, mobile workers, excursionists, and travelers. The cockpit electronics technology trends and innovation help enhance the driver and passenger experience in vehicles. An increase in the size, number, and quality of displays in cockpit electronics is expected to create avenues for industry growth. Furthermore, the integration of voice recognition, AI-enhanced agent, and natural-language processing to enhance autonomous vehicle experience is expected to boost the market growth. Driver monitoring systems are among a few technologies chased by tier 1 suppliers and automotive OEMs.

The demand for smart display and connected infotainment solutions is increasing in the automotive space. By the end of 2020, it is estimated that 75% of all passenger vehicles on road will be linked to the internet via 3G/4G connectivity. The usage and acceptance of Google’s Android Auto and Apple’s CarPlay standards are increasing. This trend is expected to continue as technology advances. Moreover, displays that use 3D, multiple layers, auto-stereoscopic, prismatic, Diffractive Lightfield Backlighting (DLB), and other depth-conveying technologies are expected to gain traction over the forecast period, thus creating opportunities for market growth. For instance, the Honda E urban Electric Vehicle (EV) features a 32-inch-wide console display with three separate displays underneath a seamless top layer.

The economy worldwide has experienced a massive setback due to the COVID-19 outbreak, negatively impacting vehicle production. The aftermath of the COVID-19 pandemic has resulted in supply chain disruptions with several production facilities coming to a halt. The outbreak has negatively impacted the sale of passenger and commercial vehicles, subsequently impacting the demand for smart displays. The EU market has led the smart display sales in the past, however, recently, the adoption rate has witnessed a decline due to a dip in automotive sales. Europe is expected to experience mixed recovery cycles owing to the economic stimulus packages and local restrictions. According to the German Association of the Automotive Industry (VDA), in Europe, 5.1 million passenger cars were registered in the first half of 2020, 39% less compared to 2019. Moreover, the sales of passenger vehicles in the U.S. reduced by around 26% in 2020 compared to the previous year.

Browse through Grand View Research’s Technology Industry Related Reports

Connected Car Market – The global connected car market size was estimated at over USD 24 billion in 2014 and is expected to grow at a CAGR of approximately 28% over the forecast period.

Semi-Autonomous Vehicle Market – The global semi-autonomous vehicle market demand was valued at 14.22 million units in 2020. The market is expected to expand at a compound annual growth rate (CAGR) of 20.8% from 2021 to 2028.

Automotive Smart Display Industry Segmentation

Grand View Research has segmented the global automotive smart display market on the basis of display size, display technology, application, and region:

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