Automotive Smart Display Market Size to Hit Around USD 24.16 Bn by 2033
The global automotive smart display market size was exhibited at USD 11.40 billion in 2023 and is projected to hit around USD 24.16 billion by 2033, growing at a CAGR of 7.8% during the forecast period of 2024 to 2033.
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Key Takeaways:
Automotive Smart Display Market: Overview?
The automotive smart display market encompasses a wide array of display technologies integrated into vehicles to deliver enhanced user experiences and functionality. These displays range from traditional instrument clusters and infotainment screens to advanced heads-up displays (HUDs) and augmented reality (AR) windshields. With the proliferation of electric vehicles (EVs), autonomous driving technologies, and connected car services, the demand for intelligent and intuitive displays is on the rise.
Automotive Smart Display Market Growth
The automotive smart display market is experiencing robust growth driven by several key factors. The rise of electric vehicles (EVs) has spurred demand for smart displays that provide real-time information on battery status, range, and charging infrastructure. Additionally, advancements in autonomous driving technology have created a need for intuitive displays that facilitate human-machine interaction and convey critical information to passengers. Moreover, the integration of 5G connectivity and IoT capabilities has transformed smart displays into hubs for accessing multimedia content, navigation services, and vehicle diagnostics. Furthermore, the shift towards user-centric design and personalized experiences has prompted automakers to prioritize the development of sophisticated displays that seamlessly integrate with consumers' digital lifestyles. These factors, combined with ongoing technological innovations and regulatory mandates, are driving the expansion of the automotive smart display market, positioning it for continued growth in the foreseeable future.
Segments Insights:
Display Size Insights
The less than 5” display size segment accounted for the largest revenue share of over 45% in 2023. The use of less than 5" smart displays is expected to gain traction in line with the growing preference for features, such as navigation, multimedia support, driving assistance, and driver-to-vehicle communication. Furthermore, as vehicles become more compact and advanced, there is a growing need for displays that take up less space and provide more information. Smaller smart displays are an efficient solution to this problem, as they can fit in tight spaces while still providing a range of features and information.
Display Technology Insights
The TFT-LCD display segment accounted for the largest share of over 51% of the overall market in 2023. LCD and TFT LCDs are commonly used in display applications as they meet durability and temperature standards. Depending on the range of temperature required for the function of the display, manufacturers use a combination of TFT and LCD in a vehicle. The basic instrument cluster, center stack touchscreen display, and rear-seat entertainment touchscreen display are equipped with LCD panels. Advanced applications are equipped with TFT-LCD owing to its enhanced visual quality.
Application Insights
The center stack display segment accounted for the largest share of around 40.0% of the market in 2023. Center stack displays are infotainment systems that offer a range of interactive features such as navigation, music, cabin temperature controls, and other information. Advancements in the field of self-driving and connected cars are expected to propel the demand for center stack displays in vehicles. Additionally, several vehicle OEMs are aiming at offering advanced center stack display solutions in mid-segment and economical vehicle variants, thereby driving segment growth.
Regional Insights
Asia Pacific accounted for the largest revenue share of over 51% in the overall market in 2023 and is anticipated to retain its dominance, with a compound annual growth rate exceeding 8% over the forecast period of 2024 to 2033. China accounted for around 50% of the passenger vehicle sales in the region. The strategies being pursued by key global automakers toward the electrification of mobility are opening new opportunities for the growth of the market in China. For instance, in November 2023, automotive manufacturing company General Motors Company, during GM China Tech Day 2023 convened in Shanghai, China, announced its progress toward achieving the global vision of zero emissions, zero crashes, and zero congestion. As part of this vision, the company revealed plans to launch over 15 Ultium-based models in China by 2025 to enhance the connectivity and intelligence of electric vehicles.
The European market had a CAGR of 7.6% of the market. The region is a manufacturing hub for prominent automotive OEMs and premium vehicle manufacturers. Production activity in the region has been propelled by investments made by OEMs such as Daimler, Jaguar Land Rover, Volkswagen, BMW, Nissan, and Honda. A majority of premium vehicle manufacturers in the region installed advanced automotive electronics systems in vehicles, which is projected to drive the European market.
Some of the prominent players in the automotive smart display market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global automotive smart display market.
Display Size
Display Technology
Application Type
By Region
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