Automotive Smart Display Market Projected to Augment at a Notable CAGR during the Forecast Period until 2022
The automotive smart display is a wireless touch screen display device providing distraction-free access to multimedia functions, navigation, driver safety features, real-time diagnostics of the vehicle including tire pressure, engine heat indicators, etc. Modern smart display systems also include vehicle-to-infrastructure and vehicle-to-vehicle connectivity to enhance customer experience.
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Improving safety, providing comfort, and enhancing driver experience are the priorities for the automotive sector currently. Smart display manufacturers are providing cutting-edge smart display applications. With an increase in the integration of vehicle functions in a display application, smart display manufacturers are providing LCD and TFT-LCD display panels with unique designs.
OEMs are also focusing on offering smart automotive display system for a cost-sensitive market. Along with the single-touch screen platform, manufacturers are also integrating gesture control technology in the smart display system. The focus is also on offering audible navigational assistance system and 360°video imaging technology that displays 3D view of vehicle surrounding, thereby improving safety.
According to a new study by Fact.MR, the global automotive smart display market is projected to witness steady growth during 2017-2022. By the end of 2022, the market is anticipated to be worth US$ 6,478 million. Rising demand for innovative features in vehicles is enhancing the growth of automotive smart display system.
>6-10 Inches to be the Highly-Preferred Display Size
Currently, demand for 6-10 inches smart displays is the highest. This segment is expected to reach US$ 1,834 Mn in 2017. 3-5 inches is the second largest segment in terms of revenues.
LCD Display Technology to Represent Robust Growth
Compared to TFT-LCD technology, LCD display technology is anticipated to witness strong growth in the global automotive smart display market. Towards the end of 2017, LCD will account for nearly one-third of the global revenue share.
Advanced Instrument Cluster Display to Witness Maximum Usage
Advanced instrument cluster display is expected to gain healthy growth in the global automotive smart display. The advanced instrument cluster display is projected to bring in nearly US$ 1,896 million in revenue by the end of 2022. Meanwhile, center stack touchscreen display is also expected to witness strong growth in the global automotive smart display market.
The report also profiles companies that are expected to remain active in the expansion of global automotive smart display market through 2022, which include AU Optronics Corp., Alpine Electronics, DENSO Corp., Visteon Corporation, Continental AG., LG Display Co., Ltd., Japan Display Inc., Panasonic Corp., Robert Bosch GmbH, Yazaki Corporation, and Valeo SA.
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