iCrowdNewswire Jan 18, 2021 4:44 AM ET
Safety and security are the significant aspects that are acting as a driver for the automotive display market to proliferate by the year 2023. Market Research Future Reports has come up with its latest reports on global automotive display market which states that the market is expected to expand from USD 11 billion in 2017 to USD 23 billion by 2023. Also, the market is expected to grow at a steady pace by 13% CAGR which is recorded by the MRFR’s analysists. Globally, the market is tremendously flouring due to various factors, and by this, many opportunities are heading in the future time frame.
In the quest for advancements in the automotive industry, the prime automotive manufacturers are implementing hardcore displays to transform vehicle interiors into a futuristic digital experience with more pixels in front of consumers than ever before. While high resolution and large displays in previous decades were only for luxury applications, now that decline in prices and increasing consumer demand and increased production volumes have enabled mass car brands market to produce more automotive displays. Thus, this scenario has encouraged the automotive display market to expand exponentially and assist the car drivers in driving safely and with security.
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Global Automotive Display Market Drivers & Trends
As it is reported that the global automotive display market is proliferating on positive aspects, some prime factors are leading behind making the market prominent. Therefore, the factors are increasing demand that is being prevailed for display panels with high resolution for cars, fast response time, and better picture quality are expected to direct the display panel market toward more innovations, and subsequently significant growth as well. Therefore, high growth opportunities can also be identified in emerging automobile production by including smart displays, smart mirrors, smart home appliances and, emerging display technologies such as micro-LED and true quantum dot; and smart wearable display segments such as AR/VR HMDs and smartwatches. These are highly expected to offer high major growth opportunities in the global automotive display market in the years to come.
The automotive display has been creating new value in the automotive display market by attaining product competitiveness with its industry-leading IPS and In-TOUCH technologies. Also, it also introduced a flame-resistant certification program to all its automotive panels to greatly brace safety and stability in automobiles. Through these efforts, the automotive display has become more prominent in the current time, than when it was optional some years before.
Most notably, the automotive display market is expanding as a variety of surfaces of vehicles are being replaced with displays. Panasonic Corporation is one of the major manufacturers of automotive display and is primarily known for providing solutions such as head-up for safety, entertainment and connectivity, and battery innovations, audio services, autonomous services, electronic components, EV HEV energy, infotainment, and vision & sensing. The company also partnered with Trend Micro to include cybersecurity solutions for connected cars, which can easily control driving behavior. These developments have enabled the provision of solutions in the automobiles which is driving the market more towards opportunities to dwell in the forecast period.
Global Automotive Display Market Segmentation
According to the reports presented by MRFR, the global automotive display market has been0 segmented as type, technology, display size, applications, and region.
Segmentation by type: Market includes rear seat entertainment touchscreen display, center stack touchscreen display, advanced instrument cluster display, and others.
Segmentation by technology: The market segment includes TFT LCD, PMOLED, PMLCD, AMOLED, and others.
Segmentation by display size: This market includes 3”-5”, 6”-10”, and >10”.
Segmentation by Applications, this market includes telematics, infotainment, navigation, others.
Region wise, the global automotive display market has covered the major regions such as North America, Europe, Asia-Pacific, and the rest of the world.
Among these, Europe is likely to lead the global automotive display market during the forecast period. With the presence of regions such as Germany, the UK, and France, these are the prime ones hence, leading the automotive display market in Europe. With that, the existence of a large number of car manufacturers such as Audi, BMW, Porche, Lamborgini is also highly contributing to driving the automotive display market in Europe.
Next comes is the Asia-Pacific region, which is probably to proliferate at a faster rate during the forecast period. Countries such as Japan, China, and South Korea are the leading regions for the automotive display market during the forecast period. With that, the presence of telecommunication industries such as Huawei, China Telecom., and Bharti Airtel is also a part that is driving the automotive display market in Asia-Pacific.
The significant players in the automotive display market are identified as LG Display Co. Ltd (South Korea), Panasonic Corporation (Japan), Delphi Technologies (UK), Robert Bosch GmbH (Germany), Visteon Corporation (US), Continental AG (Germany), 3M Company (US), Nippon Seiki Co. Ltd (Japan), Magneti Marelli S.p.A (Italy), and Qualcomm Technologies Inc (US).
15th April 2019: JOLED Inc, developer, manufacturer and seller of organic light-emitting diode (OLED) displays, has developed the world’s first printed OLED display that developed for use in automotive displays and high-end monitors. These OLED displays will be produced through the pre-process from the array process to the printed OLED process conducted at JOLED Nomi Site and the module process that constitutes the post-process, held at the Chiba Site.
9th April 2019: LG display records accumulative sales of 100 million automotive displays. LG display announced that it recorded accumulative sales of 100 million automotive displays in the first quarter of this year.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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