New York, June 24, 2021 (GLOBE NEWSWIRE) -- Automotive Display Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Automotive Display Market Research Report, By Applications, By Type, By Display Size and Region - Forecast till 2027” The global market is projected to reach USD 39.7 billion by 2027 from an estimated USD 18.4 billion in 2020, at a CAGR of 13% from 2021 to 2027.
Huge demand for infotainment, reliance on navigation systems, and development of connected vehicles can drive the market demand significantly. Display screens are capable of displaying the internal temperatures of engines, tire pressure, and safety belt indicators.
Integration of connectivity with smartphones inside cars can drive the demand for display screens. Use of screens for casting content or streaming content on OTT platforms can bode well for the market. Synergy of smartphone applications such as Android Auto with smart displays in vehicles can be optimized for traveling on roads. Use of personal voice assistants for navigation on rough terrains and finding new landmarks can attract new car owners.
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List of Key Companies on Automotive Display Market covered are:
Players are differentiating their product on basis of long shelf life, safety, and features. Partnerships and collaborations are expected in the market as the industry aims towards consolidation.
The scope of 5G and wireless technologies can be new opportunities for screen displays. New applications such as cloud gaming, internet streaming, and augmented reality can induce the demand for better functioning displays and trigger market demand. Development of large screens with focus on pixel quality can find voice among automotive manufacturers.
But concerns over high costs of automotive displays can impede market growth.
The COVID-19 pandemic had dented the automotive display market owing to shutdown of major assembly and manufacturing units coupled with disruptions in supply chains. The focus on aesthetics such as display screens and use of high-end materials can drive the market demand during the forecast period. The need for high-end electronics to enjoy online content and need for high-speed internet will bode well for the market. Premium and luxury cars will create a huge demand for display screens. Differentiation in features and pricing may persuade customers to opt for vehicles with these future electronic devices.
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The integration of human-machine interface (HMI) has induced the need for flexible displays. These displays can be customized to fit in the desired shape of customers as well as unique conceptual designs. Increased inclination of making interior surfaces interactive can drive the evolution of the technology. Curved and shaped interiors are likely to be witnessed in the coming years owing to customized interiors. Infotainment displays that can adhere to custom designs and made using LCD glass are likely to be ubiquitous.
Gesture recognition technologies are likely to be seen more often due to developments in targeting displays. Passengers availing ride sharing services can be targeted in this manner with Ads to cross-sell products. New protocols for sending signals from the driver board to the glass display can revolutionize the market. Driver safety has also found a pivotal role in the market with various components adhering to automotive safety integrity level (ASIL) standards. The display can showcase driver safety protocols which are supported by built-in integrated circuits.
By type, the center stack display segment is deemed to occupy the lion’s share of the market owing to features of cabin temperature controls, music, and other forms of infotainment. Advances in self-driving and presence of various OEMs offering screens to mid-segment and economy segment cars can bode well for the market.
By technology, the TFT-LCD technology can capture a large market share and dominate the automotive display market. This is attributed to their adherence of latest temperature and durability standards. Its visual quality has been integral to its adoption in centerstack and rear seat display screens.
By display size, the >10” segment is expected to perform well during the forecast period owing to applications in autonomous vehicles, premium cars, and electric vehicles. Integration of all primary and secondary functions on a single screen can drive the demand among potential customers.
By application, the infotainment segment can lead in the market owing to acceptance of smart driving companion applications and access to high-end connectivity. The increased ability of display screens to showcase depth in maps and rear of cars for easy navigation can drive the segment growth. On the other hand, the navigation segment can command a significant demand share of the automotive display market.
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Europe is expected to dominate the automotive display market owing to presence of major automotive manufacturers. France, Germany, and the U.K. are major contributors of the regional market. Installation of center stack display technologies compatible with existing operating systems and connected vehicles can drive the regional market demand.
APAC, on the other hand, is expected to register a remarkable growth rate over the forecast period. Development of heads-up displays by automotive manufacturers in light of improvements in augmented reality can drive the APAC automotive display market growth. Replacement of electromechanical switches with touch displays can be used in controlling thw windows and internal temperature.
Faurecia , an automotive technology company hailing from France, has acquired designLED. This acquisition can give access to backlighting technologies and strengthen immersive experiences sold by the company.
Global Automotive Display Market Growth Driven by Customer Safety
The global automotive display market is bound to expand owing to evolution of display screens, pixel quality, and image resolution. Huge demand for driver safety has led to design of curved and customized displays fit in with the design of cars. Ride hailing services are bound to be latest end-users of display screens owing to inclination towards consumption of content on OTT platforms.
Segmentation of Market covered in the research:
Research Report, By Applications (Telematics, Navigation, Infotainment), By Type (TFT LCD, PMOLED, AMOLED), By Display Size (3”-5”, 6”-10”, >10) and Region (North America, Europe, Asia-Pacific, and Rest of the World)
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