Global Automotive Display System Market Analysis 2024 – Estimated Market Size And Key Drivers

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The Automotive Display System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Automotive Display System, The automotive display system market size has grown rapidly in recent years. It will grow from $21 billion in 2023 to $24.22 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to rise in consumer demand for infotainment, safety and driver assistance requirements, regulatory standards and guidelines, in-car connectivity, consumer preferences for premium features, market competition and differentiation.

The automotive display system market size is expected to see rapid growth in the next few years. It will grow to $41.58 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to rise in electric and autonomous vehicles, integration of augmented reality, focus on user experience (ux), continued connectivity demands, smart city and infrastructure integration. Major trends in the forecast period include lightweight and flexible display technologies, advancements in automotive technology:, augmented reality (ar) head-up displays (huds), increasing adoption of digital cockpits, rise of curved and flexible displays, increased use of transparent displays.

Growth in vehicle production is expected to propel the growth of the automotive display system market going forward. Production of vehicles refers to the process of manufacturing cars or other vehicles that are identical models that have been built in large quantities. Automotive display system refers to the setup of display that presents information related automobile in order to communicate vital information to the driver. Due to such benefits, there is a increase in demand for automotive display system to enhance the safety of vehicle. For instance, in September 2023, according to a report published by MarkLines Co. Ltd., a Japan-based advertising agency company, the month of August saw a 12.7% increase in passenger car sales, with a total of 280,223 units sold, resulting in a market share of 20.9% in U.S. Sales of new cars in the US totaled 1.341.169 units in August, which was a 2.0% increase from July 2023 and a 16.2% increase from August 2022. Therefore, the growth in vehicle production is driving the growth of the automotive display system market.

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The automotive display system market covered in this report is segmented –

1) By Product Type: Center Stack Display, Camera Information Display, Reconfigurable Instrument Cluster, Driver Information Display, Rear Seat Entertainment, Head-up Display

2) By Technology: LCD, OLED

3) By Screen Size: < 5″ Inch, >5″-10″ Inch, >10” Inch

4) By Vehicle Type: Mid-Size Car, Luxury Car, SUVs and Crossovers, Light Commercial Vehicles, Other Vehicles

Technological advancements are a key trend gaining popularity in the automotive display system market. Major companies operating in the automotive display system market are focused on introducing technological advancements to sustain their position in the market. For instance, in June 2021, Visteon Corporation, a US-based automotive electronics company, launched microZone, an innovative OLED alternative and the first display technology to provide superior optical performance without compromising dependability or longevity. MicroZone technology is the first of its kind in the automotive sector and a cutting-edge alternative to organic light-emitting diodes (OLEDs). Visteon developed MicroZone in response to a market demand for a premium experience-delivery display that meets demanding automotive-specific specifications. MicroZone is recognised as the first car display to achieve remarkable optical performance without compromising vehicle durability, based on existing LCD technology and having satisfied high automotive qualification standards.

The automotive display system market report table of contents includes: