Global Automotive Display System Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

The automotive display system market refers to a digital screen that is built into automobiles to provide the driver and passengers with important information and other infotainment-related information. It displays information in the driver’s line of sight, reducing possible distractions and avoiding accidents.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

North America was the largest region in the automotive market in 2023. The regions covered in the automotive display system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the automotive display system market are developing innovative products, such as augmented reality (AR) head-up displays (HUD), to meet larger customer bases, more sales, and increase revenue. An augmented reality (AR) head-up display (HUD) is an advanced technology that combines augmented reality elements with a traditional Head-Up Display to provide real-time, contextually relevant information to users, typically in the automotive context. For instance, in January 2023, HARMAN, a US-based vehicle technology company, launched HARMAN Ready Vision. This is a collection of head-up display (HUD) hardware and AR software products designed to improve driver awareness and safety through Augmented Reality (AR). The augmented reality software from Ready Vision works with the sensors in the car to provide the driver with timely, accurate, and non-intrusive immersive audio and visual alerts that are packed with essential information. HARMAN in order to improve driver cognition, Ready Vision helps to bridge the gap between the real and virtual worlds by providing clear turn-by-turn directions on the windshield. In addition, Ready Vision employs computer vision and machine learning for 3D object detection to provide drivers with highly accurate non-intrusive collision warnings, blind spot alerts, lane departure, lane change assistance, and low speed zone notifications.-rephrase as the play’s distinctive element.

The automotive display system market report table of contents includes:

1. Executive Summary

2. Automotive Display System Market Characteristics

3. Automotive Display System Market Trends And Strategies

4. Automotive Display System Market – Macro Economic Scenario

 

5. Global Automotive Display System Market Size and Growth
…
31. Global Automotive Display System Market Competitive Benchmarking

32. Global Automotive Display System Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Display System Market

34. Automotive Display System Market Future Outlook and Potential Analysis

 

35. Appendix

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