Global Automotive Smart Display Market Is Expected to Reach USD 16.57 billion by 2028 : Fior Markets

Automotive Smart Display Market by Type (LCD, TFT-LCD, OLED, Others), Size (Lesser than 5, 5’' - 10", Greater Than 10"), Application (Rear Seat Entertainment, Center Stack, Digital Instrument Cluster, Head-up Display), Region, Market Size, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

/EIN News/ -- Newark, NJ, May 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global automotive smart display market is expected to grow from USD 9.29 billion in 2020 to USD 16.57 billion by 2028, at a CAGR of 7.5% during the forecast period 2021-2028

The automotive smart display market is witnessing significant growth form the past years. This growth is attributed to the growing demand for advanced functions such as navigation, entertainment devices, driver assistance, and connected car features, as well as improved driver-to-vehicle connectivity, these are expected to accelerate smart display adoption in the automotive industry even more. Over the forecast period, the increasing demand for improved protection, comfort, and convenience in automobiles, especially in emerging and mature economies, is expected to drive market growth. Demand for autonomous and semi-autonomous vehicle technology is increasing, as is the growth of the high-end and luxury car segments, especially in emerging markets.

Automotive smart display is a touch screen interface designed for use in automobiles to offer hands-free access to multimedia controls, driver safety functions, navigation, and real-time automotive diagnostics such as fuel capacity, battery temperature, tire pressure, and engine heat indicators. It assists the owner in being updated of device modifications that may have serious implications. Customers' the awareness of safety features may be contributing to the growth of the global automotive smart display industry. Accidents can be reduced as a result of the absence of the distraction caused by looking for information needed by an automotive smart display.

The global automotive smart display market is expected to witness significant growth, owing to the integration of smartphone connectivity in cars, the improving driver-to-vehicle communication and increasing demand for advanced functions, including navigation, multimedia systems, driver assistance. The factors restraining the market growth are negatively impacted vehicle production, declined adoption rate and threat of cyberattacks. Advancement in focus on 5G and wireless technology will provide market growth opportunities.

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Key players operating in global automotive smart display market include Alps Alpine Co. Ltd., Bosch(Germany), Continental (Germany), DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Panasonic (Japan), Pioneer (Japan), Continental AG, Denso Corporation, Visteon Corporation (US), Denso Corporation (Japan), LG Display (South Korea), Alpine Electronics Inc. (Japan), Valeo SA (France), Magna International Inc. (Canada), Hyundai Mobis, Panasonic Corporation, Delphi Automotive PLC (UK), Robert Bosch GmbH (Germany), Nippon Seiki Co. Ltd (Japan). To acquire a significant market share in the global Automotive smart display market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Alps Alpine Co. Ltd., Bosch and Panasonic are some of the key manufacturers operating in automotive smart display market.

For instance, in jUNE 2020, Bosch launched the SMI230 this launch helped stretched the company’s position in the market.
In May 2020, Pioneer Corporation and Continental AG signed a strategic cooperation agreement. This strategic move helps with a better user experience that is aimed for consumers in the Asian market

Center Stack segment dominated the market and held the largest market share of 27.6% in the year 2020
On the basis of application, the global automotive smart display market is segmented into rear seat entertainment, center stack, digital instrument cluster, head-up display. Center Stack segment dominated the market and held the largest market share of 27.6% in the year 2020. This growth was attributed to the high range of interactive features and advances in the area of self-driving and connected vehicles.

5’' - 10" segment dominated the market and held the largest market share of 35.78% in the year 2020
On the basis of size, the global automotive smart display market is segmented into lesser than 5, 5’' - 10", greater than 10". 5’' - 10” segment dominated the market and held the largest market share of 35.78% in the year 2020. This domination is attributed to the high compatibility of this size within the automated vehicle that helps increase the demand of the segment type.

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Regional Segment of Automotive smart display Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global automotive smart display market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific region held the largest market share of 50.0% in the year 2020. This growth is ascertained by the China in the Asia Pacific region owing to accounting for 50% of sales of the passenger vehicle. Futhermore, this lead was due to the growing demand for connected vehicles and the development of electric vehicle infrastructure across the region. The European region is witnessing significant growth, as it is a hub for automotive giants and premium vehicle manufacturers and due to the rising need for safe and secure driving experience.

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About the report:
The global automotive smart display market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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