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"Overview of Automotive Display Unit Market"
Automotive Display Market Size is estimated at Approximately USD XX Mn in 2019 and will grow at over approximately 10.1% CAGR from 2020 to 2028.
In recent years, the automotive display market has experienced rapid growth. Increasing global passenger car demand is the key driver for this development. The sales volume of passenger cars increased between 50 million units to 71 million units per year from 2009 to 2017. The demand for comfort as well as safety systems has also increased with increased disposable income, contributing to the growth of the industry. Recent advances in technology such as ADAS, Augmented Reality, and Artificial Intelligence have stimulated market research and development. Manufacturers are actively focusing on product innovations and differentiation to attain a competitive advantage.
One of the challenges of market growth is the high cost of head-up displays. For these systems, many customers don't prefer to pay high prices. Display panels such as OLED and QLED are seeing rapid adoption in the automotive industry, greatly contributing to the overall cost of the system. Certain reasons for limiting the growth of these systems are the safety concerns that come with contact surfaces replacing all mechanical components. Complete touch surfaces as mechanical systems are not yet as reliable. In order to operate it, a driver must look at the screen and it is a diversion from the sight of the lane. Especially in cars with large displays like Tesla, this was the case.
By Technology Type, OLED Panels Are Expected To Be Adopted More Prominently Shortly In The Automotive Industry.
OLED panels are expected highest share of XX% during the forecast period. Currently, most of the panels used in display systems are TFT LCD, while OLED panels are expected to be used more prominently in automobiles soon. Kudos to the use of organic materials and thin plastic substrates, OLED panels provide flexibility in design, including transparent displays. Samsung and LG are the major companies concentrating on OLED panels for automotive displays.
Automotive display unit manufacturers and display panel manufacturers are upgrading their products in the form of enhanced display applications. Manufacturers are growing their R&D investment to develop new technologies that are expected to meet the ever-expanding characteristics of connected vehicles. Consumer awareness in developed economies plays a key role in raising the adoption of smart displays for automotive applications.
However technological advances in display technologies such as OLED, QLED, and AMOLED will generate market growth opportunities in the coming years. TFT LCD displays are relatively cheaper and widely used, but with OLED screens the image quality, brightness, and sharpness are much higher. The demand for OLEDs was significantly lower in 2018 relative to the LCD market. However, OLED display systems are expected to be adopted quickly over the next five years, closely reflecting the trend in smartphones.
Passenger Cars Are Expected To Hold A Maximum Share Of XX% During The Forecast Period.
Passenger Cars drive the demand for the global automotive display unit market owing to increased sales of passenger cars, demand for connected vehicles, and higher disposable incomes (where investment is being made in additional comfort and safety features), the automotive display market has seen rapid growth, particularly in Asian economies. Due to the presence of many luxury car manufacturers such as Audi, BMW, Mercedes-Benz, Porsche, and Jaguar Land Rover, Europe is projected to be another important automotive area. Most of these luxury car brands offer multimedia systems and rear-seat entertainment systems as standard in most of their flagship offerings.
For the Automotive Display Market, Asia Pacific has the largest share of revenue and it holds a maximum share of xx% during the forecast period.
Emerging Countries in APAC are expected to create new growth opportunities. Because of the low cost of production and the availability of skilled labor, manufacturers are expanding their manufacturing plants in Asian countries. Large markets, including India and China, have seen an increase in the overall sales of passenger cars as well as in the sales of luxury cars such as Mercedes-Benz and Audi, increasing the growth of the industry. The presence of telecommunications industries such as Huawei, China Telecom and Bharti Airtel will also have an impact on Asia's overall market with demand for connected cars, IoT and other technological advances in-vehicle displays.
Competitive Market Analysis:
Continental AG, Denso, Robert Bosch, Visteon, and Panasonic Automotive are key players on the market with a majority share of the revenue. Japan Display, LG, Harman International, and Sun Innovations are among others with a significant presence. Given rapid development and high technological innovations, a large number of opportunities remain for new entrants. Byton, which is the Chinese start-up of e-vehicles, unveiled the largest display of 48 "in a production car at CES 2019, which means that global market leaders must also continue to focus on product developments in order to be ahead of the competition. Many car manufacturers, such as Toyota, produce their own screens and rear-seat entertainment systems.
Automotive Display Unit Market Segmentation:
By Vehicle Type:
- Passenger Cars
- Commercial Cars
By Technology Type:
By Product Type:
- Centre Stack Display
- Instrument Cluster Display
- Heads-up Display
- North America
- Latin America
- Middle East and Africa