The Global Automotive Smart Display Market was worth US$ 7.59 billion in 2022 and is anticipated to reach a valuation of US$ 11.58 billion by 2028 and is predicted to register a CAGR of 8.80% during 2023-2028.
The Automotive Smart Display is a type of display device designed to improve the safety of the occupants and drivers of the vehicle. It is a battery-based wireless system and is usually installed in personal and commercial vehicles. Available sizes of smart car screens vary from 3 inches to 15 inches. The availability of different types of smart display devices used in various applications, depending on the vehicle, is increasing the propensity of the consumer to use them.
Market Growth:
Factors such as the introduction of stricter safety standards, advances in screen technology and the appearance of connected cars are pushing the global Automotive Smart Display Market.
Market Drivers:
The growing demand for vehicles with convenient and comfortable features is an essential driver of the growth of the global Automotive Smart Display industry. Furthermore, increasing the adoption of cars with advanced safety technology and security solutions is another factor that supports the growth of the worldwide market. The growing demand for cars connected with features such as Internet access and vehicle-to-vehicle communications, vehicle-to-infrastructure communications, and cloud communications is expected to drive growth in the target market.
In addition, improved security through the use of smart mirror applications in rearview and side mirror locations is likely to drive the growth of the global Automotive Smart Display business in the near future. The growing demand for autonomous and semi-autonomous vehicles has been the driving force behind the automotive smart display market. Also, the need for convenience and safety features is expected to drive the growth of this market. In many countries, the government has established regulations on automotive safety and essential GPS systems for commercial vehicles. However, as the adoption of electric and semi-autonomous cars increases, players in the target market can create high-income opportunities.
Market Restraints:
However, the high cost of smart car screens is a factor that can hamper the growth of the global market. The average disposable income of people is increasing, but most people cannot afford it. Being a new technology, the cost of installing smart screens for cars in vehicles will be high.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
8.80% |
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Segments Covered |
By Type, Screen Size, Display Technology, Vehicle Type, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
LG Display Co., Ltd., Pioneer Corporation, Continental AG, Denso Corporation., Robert Bosch GmbH, Magna International Inc., Panasonic Corporation, Automotive LLP, Kyocera International, Inc., YAZAKI Corporation, and Others. |
Market Segmentation:
The touchscreen segment of the central console dominates the global market in terms of revenue and is supposed to maintain control during the forecast period. Government regulations on the installation of global positioning systems in vehicles and the adoption of central console touch screens on passenger cards in several countries are factors that drive the growth of this sector in the global market.
The passenger car segment is presumed to record high sales growth during the forecast period. It is economical and convenient for people to increase the demand for passenger cars, which is a factor that supports the growth of this sector. Besides, the high disposable income among people in emerging countries is another factor that is foreseen to promote the growth of this sector in the target market.
Market Regional Analysis:
The Global Automotive Smart Display Market Report includes the segmentation of regions:
North America is leading with the dominant shares of the market owing to growing investment in the development of advanced technologies. The adoption of infotainment systems in vehicles is accelerating the market growth rate in North America. US and Canada are major contributors to the market growth rate. Growing funds from private organizations are eventually leveraging the market demand. The presence of top automobile companies in developed countries like the US and Canada is likely to set growth opportunities for the market in North America.
Europe is following North America in leading the largest shares of the market owing to growing disposable income in urban areas. The growing prevalence for top brands vehicles is majorly accelerating the Europe automotive smart display market. Also, the increasing prevalence of the safe and secure driving experience is enhancing the growth rate of the market.
Asia Pacific is gaining traction over the market growth rate with the penetration of 5G technology in emerging countries like India, China, Japan, and others. Integration of the automotive systems with the Internet of Things is ascribed to fuel the market demand in Asia Pacific.
Latin America and Middle East & Africa are esteemed to have significant growth opportunities in the coming years.
Company Scenario:
Panasonic has launched a new concept technology called Panasonic Autonomous Cabin. Inside the room, there are four panels and a table with an interactive digital display system that offers functions such as facial recognition, navigation, and other entertainment functions.
Market Key Players:
Market Recent Developments:
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