The Automotive Display Market size was valued at USD 15.98 billion in 2023 and is expected to reach USD 29.14 billion by 2031 and grow at a CAGR of 7.87% over the forecast period 2024-2031.
The Automotive Display Market is primed for accelerated growth, buoyed by a convergence of key factors. To begin with there's a tangible surge in consumer demand for in-car technology, exemplified by the rising preference for advanced driver-assistance systems (ADAS) and premium features such as panoramic displays. Rising Governmental initiatives which prioritizes investments in electric and autonomous vehicles, will indirectly drive the necessity for sophisticated displays. These displays will play a pivotal role in facilitating functionalities like real-time traffic updates, vehicle diagnostics, and augmented reality navigation, anticipated features in the next wave of automotive innovation.
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Lastly, the ongoing race in display technology, prominently featuring OLED displays renowned for their superior contrast and energy efficiency compared to conventional LCDs, will be a compelling proposition for both consumers and automakers. Major industry players like LG are making substantial investments, with a significant USD 2.8 billion allocation earmarked specifically for ramping up OLED production tailored for automotive displays. Consequently, a notable transition towards this cutting-edge technology is worth noticing in the forthcoming years.
KEY DRIVERS:
As the demand for in-car entertainment rises, so do the market's opportunities.
Automotive displays are also booming thanks to the rising demand for digital instrument clusters.
The market's growth is also being boosted by consumers' increasing desire for convenience and safety.
An increase in passenger car sales and an increase in disposable income.
Rising consumer demand for passenger vehicles is being propelled by a concurrent upswing in disposable income levels. This symbiotic relationship between increased vehicle purchases and heightened financial resources underscores a notable surge in consumer purchasing power within the automotive sector.
RESTRAINTS:
The expensive nature of head-up display would restrain the expansion of the market.
The lack of adoption would hinder the market's progress.
OPPORTUNITIES:
Rapid technical breakthroughs and system innovations will boost the automobile display market.
Significant advancements in technology and continuous innovation within automotive systems are poised to drive substantial growth in the automobile display market. These breakthroughs promise to revolutionize the industry landscape, presenting lucrative opportunities for stakeholders across the automotive value chain. As cutting-edge technologies continue to permeate the sector, the automobile display market stands at the forefront of transformative change, poised to redefine the driving experience and elevate industry standards to new heights.
CHALLENGES:
The automotive display is being held back by growing worries about the mobility of the touch screen display.
Lack of interest in using expensive automobile displays would challenge the expansion of the market.
The conflict in Ukraine has reverberated throughout the automotive display market, exacerbating existing challenges posed by chip shortages. Immediate disruptions ensued as Ukrainian suppliers of vital wire harnesses, crucial for integrating a vehicle's electrical systems, experienced production halts. This predicament directly affected major European car manufacturers such as Volkswagen and BMW, prompting temporary shutdowns of production lines due to component shortages. The ripple effects were profound, with projections indicating a potential reduction of one million vehicles manufactured globally in 2022.
In response to the crisis, governments worldwide initiated measures to mitigate its impact. For instance, the Indian government unveiled a substantial $3.5 billion investment plan aimed at bolstering domestic semiconductor production, with the goal of reducing dependence on fragile supply chains. Concurrently, automotive industry leaders have embarked on a quest for alternative suppliers and are exploring the possibility of reshoring critical components. Notably, industry titan General Motors has committed a significant $4 billion investment to enhance in-house chip development capabilities, with the aim of gaining greater autonomy over the display technology supply chain. While the long-term ramifications of the conflict on the automotive display market remain uncertain, it has undoubtedly accelerated the trend towards diversification and regionalization of supply chains within the industry.
The automotive display market faces significant challenges amid an economic slowdown, primarily driven by decreased consumer expenditure on new vehicles. This downturn leads to a cascade effect, wherein diminished car sales result in reduced investments in display technologies by automotive manufacturers. Notably, a 2023 report by IHS Markit projected a 3.5% decline in global light vehicle production due to chip shortages and economic uncertainties, exemplified by a major automaker's decision to shelve a $1.5 billion display factory investment during the same year.
To address these challenges, governments may implement stimulus packages or tax incentives aimed at revitalizing the automotive sector. For instance, China's decision to halve car purchase taxes in mid-2023 serves as a notable intervention to bolster its automotive industry amidst the economic downturn. However, to mitigate the long-term effects of the economic slowdown on display technology, strategic investments in research and development (R&D) of next-generation displays are crucial. Such investments ensure that the industry remains innovative and competitive, positioning it favorably for future market rebounds. By prioritizing R&D initiatives, companies can sustain their technological edge and capitalize on emerging opportunities when market conditions improve.
In the automotive display market, the leadership position is determined by screen size, with smaller displays, typically under 5 inches, currently holding a commanding 45% share. This dominance is primarily driven by their space-efficient design, particularly suited for compact vehicles, and their capacity to provide essential functionalities such as navigation and driver information. However, there is a notable shift occurring, with displays ranging from 5 to 10 inches steadily gaining momentum, capturing almost half of the market share at 46.8%. Positioned as an optimal choice, this segment strikes a balance between providing comprehensive information and optimizing spatial utilization, making it a preferred option across a wide spectrum of vehicles. Notably, displays exceeding 10 inches are witnessing rapid growth, heralding a premium cinematic experience tailored for passengers in luxury automobiles.
In the competitive landscape of automotive display technologies, a dynamic showdown unfolds, characterized by a clash between LCD, TFT-LCD, and OLED solutions. LCD stands as the stalwart choice, prized for its cost-effectiveness and robustness, particularly in applications like instrument clusters. Meanwhile, TFT-LCD, a refined iteration of LCD technology, distinguishes itself with superior image fidelity, rendering it a preferred option for sophisticated infotainment systems.
Emerging as the formidable challenger is OLED, renowned for its breathtaking color rendition and profound contrast, setting new standards for visual excellence. However, its premium pricing confines its utilization primarily to high-end automotive segments, limiting its widespread adoption. Market analysis indicates that TFT-LCD currently commands a dominant share, surpassing the 50% mark, with LCD trailing in its wake. Nonetheless, the ascendant trajectory of OLED is unmistakable, with rapid growth trajectories suggesting its imminent ascension to prominence in forthcoming vehicle models. In this dynamic arena, manufacturers must navigate the evolving landscape of display technologies to align with consumer preferences, striking a delicate balance between performance, cost, and innovation to seize competitive advantage and meet the discerning demands of modern automotive consumers.
By application, the automotive display market divides into four key segments. Center stack displays, currently holding the largest share at around 45%, serve as the hub for infotainment systems and in-car features. Digital instrument clusters, at roughly 30% share, replace traditional gauges with customizable digital displays. Head-up displays, capturing around 15% share, project vital information onto the windshield for a heads-up view. Finally, rear entertainment systems, making up the remaining 10% share, keep backseat passengers occupied with movies and games. This segmentation reflects the growing demand for in-vehicle technology that enhances the driving experience for both operator and passengers.
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By Display Size:
<5”
5” to 10”
>10”
By Display Technology:
LCD
TFT-LCD
OLED
By Application:
Centre stack
Digital instrument cluster
Head-up display
Rear entertainment
REGIONAL ANALYSIS:
The market for automobile displays is broken down into four distinct segments based on geography: Europe, Asia-Pacific, North America, and the rest of the globe. It is anticipated that Europe would maintain its dominant position in terms of revenue. Due to the region's high concentration of automobile producers, Europe is expected to experience the highest rate of market expansion throughout the time under consideration. It is generally anticipated that all of these branded automobiles will boost the market value higher and higher. Countries like Germany, France, and the United Kingdom are examples of nations that are likely to have some level of dominance in the market for car display systems across the regions of Europe.
The Asia-Pacific region stands at the forefront of the automotive display market, poised to capture more than 40% market share by 2031. This dominance is underpinned by several key factors, including the robust expansion of the automotive sector, particularly notable in dynamic markets such as China and India. Furthermore, there exists a burgeoning appetite for feature-rich vehicles among consumers, further propelling market growth in the region.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Robert Bosch GmbH (Germany), Continental AG (Germany), LG Display Co. Ltd (South Korea), Panasonic Corporation (Japan), Magneti Marelli S.p.A (Italy), Delphi Technologies (UK), Visteon Corporation (US), 3M Company (US), Nippon Seiki Co. Ltd (Japan), and Qualcomm Technologies Inc (US) are some of the affluent competitors with significant market share in the Automotive Display Market.
Companies like LG Display, Panasonic Corporation, and Continental AG have been at the forefront, introducing cutting-edge solutions that seamlessly integrate infotainment systems, navigation, and driver-assistance features.
Additionally, partnerships and collaborations between automotive manufacturers and display technology providers have accelerated the development of smart displays and interactive dashboards, transforming the traditional driving cockpit into a digitally enhanced environment.
As the demand for in-vehicle displays continues to surge, these key players remain committed to pushing the boundaries of innovation, setting new standards for automotive displays in the years to come.
Panasonic Corporation (Japan)-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 15.98 Billion |
| Market Size by 2031 | US$ 29.14 Billion |
| CAGR | CAGR of 7.87% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Display Size (<5>10”) • by Display Technology (LCD, TFT-LCD, OLED) • by Application (Centre stack, Digital instrument cluster, Head-up display, Rear entertainment) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Robert Bosch GmbH (Germany), Continental AG (Germany), LG Display Co. Ltd (South Korea), Panasonic Corporation (Japan), Magneti Marelli S.p.A (Italy), Delphi Technologies (UK), Visteon Corporation (US), 3M Company (US), Nippon Seiki Co. Ltd (Japan), and Qualcomm Technologies Inc (US) |
| Key Drivers | •As the demand for in-car entertainment rises, so do the market's opportunities. •Automotive displays are also booming thanks to the rising demand for digital instrument clusters. |
| RESTRAINTS | •The expensive nature of head-up displays would restrain the expansion of the market. •The lack of adoption would hinder the market's progress. |
Ans:- The Automotive Display Market size was valued at USD 15.98 billion in 2023 and is expected to reach USD 29.14 billion by 2031.
Ans:- European region is anticipated to be the primary driver of the market.
Ans:- As the demand for in-car entertainment rises and rising demand for digital instrument clusters are the primary market drivers for Automotive Display Market.
Ans:- Yes.
Ans:- The study includes a comprehensive analysis of market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter’s five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Global Automotive Display Market Segmentation, By Display Size
9.1 Introduction
9.2 Trend Analysis
9.3 <5”
9.4 5” to 10”
9.5 >10”
10. Global Automotive Display Market Segmentation, By Display Technology
10.1 Introduction
10.2 Trend Analysis
10.3 LCD
10.4 TFT-LCD
10.5 OLED
11. Global Automotive Display Market Segmentation, By Application
11.1 Introduction
11.2 Trend Analysis
11.3 Centre stack
11.4 Digital instrument cluster
11.5 Head-up display
11.6 Rear entertainment
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 Continental AG (Germany)
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Robert Bosch GmbH (Germany)
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 LG Display Co. Ltd (South Korea)
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Panasonic Corporation (Japan)
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Magneti Marelli S.p.A(Italy)
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Delphi Technologies (UK)
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Visteon Corporation (US)
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 3M Company (US)
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Nippon Seiki Co. Ltd (Japan)
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Qualcomm Technologies Inc (US)
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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