automotive-display-market-to-hit-us$-24-billion-by-2028,-says-global-market-insights-inc.

Automotive Display Market to hit US$ 24 billion by 2028, Says Global Market Insights Inc.

 

The automotive display market is expected to surpass USD 24 billion by 2028, as reported in a research study by Global Market Insights Inc. The rising popularity of infotainment systems and requirement of navigation systems are propelling the industry revenue.

The proliferation of the automotive sector at a significantly pace across the globe is driving the automotive display market demand. Industry participants and technology companies are partnering for new automotive display innovations. For instance, in June 2021, AB Volvo partnered with Google, Inc. to develop next generation automotive displays and display software.

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The automotive display market was drastically affected in 2020 & 2021 due to the considerable transmission of COVID-19 virus. Majority of governments imposed stringent lockdown to contain the virus. Moreover, the shortage of electronics chips and limited availability of factory workers affected the sale of automotive displays.

The shifting consumers’ focus toward entertainment systems in the car is encouraging industry players and car OEMs to display their new futuristic rear-seat entertainment display concepts at exhibitions. For instance, in January 2022, BMW AG displayed its rear seat entertainment display of around 31 inches, which supports upto 8K videos at CES 2022. This screen offers in-car theater experience with aspect ratio of 32:9 format and supports various OTT services.

The presence of larger potential users and a larger number of automotive manufacturing facilities are encouraging market leaders to introduce their new products in the North America. For instance, in January 2022, Visteon Corporation unveiled its fourth generation SmartCore display cockpit interface with a holistic support for AI-equipped services and camera domain integrations. This smart display will assist drivers in managing all the vehicle services conventionally and will enhance the personalized as well as safe driving experience.

Manufacturers are remarkably investing in their R&Ds for new innovations in automotive displays to improve their market shares.

Some major findings in the automotive display market report include:

  • Availability of larger potential consumers for infotainment systems is boosting the business growth in North America.
  • Presence of key manufacturers and their significant investments in R&D are creating a positive market outlook in Europe.
  • Shifting governments focus on electric mobility solutions is foster the adoption of automotive displays in the Asia Pacific region.
  • Increasing presence of global automotive OEMs and supportive government initiatives for EVs are accelerating the sale of automotive displays in Latin America.
  • Increasing public & private investments in connected car solutions are creating a favorable environment for automotive displays in the MEA region.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  Automotive display industry 360° synopsis, 2018 – 2028

2.1.1  Business trends

2.1.2  Regional trends

2.1.3  Product trends

2.1.4  Screen size trends

2.1.5  Display technology trends

Chapter 3 Industry Insights

3.1  Industry segmentation

3.2  Impact of COVID-19 on automotive display market landscape

3.2.1  Global outlook

3.2.2  Regional impact

3.2.2.1  North America

3.2.2.2  Europe

3.2.2.3  Asia Pacific

3.2.2.4  Latin America

3.2.2.5  MEA

3.3  Industry ecosystem analysis

3.4  Technology & innovation landscape

3.5  Investment Landscape

3.6  Regulatory landscape

3.7  Industry impact forces

3.7.1  Growth drivers

3.7.1.1  Proliferation of automotive manufacruting facilites across the globe

3.7.1.2  Significant demand for connected vehicles in Europe and North America

3.7.1.3  Rising popualrity of virtual reality-based HUDs

3.7.1.4  High market demand for digital instrument displays

3.7.1.5  Market players high invesment in R&Ds

3.7.1.6  Shifting government focus towards EVs in Asia Pacific

3.7.1.7  Growing requirement of in-car advance infotainment systems propelling rear seat entertainment display sales

3.7.2  Industry pitfalls & challenges

3.7.2.1  Considerable automotive production delicne in the U

3.7.2.2  High ownership and maintenance cost associated with automotive digital displays as compared to analog displays

3.8  Growth potential analysis

3.9  Porter’s analysis

3.10  PESTEL analysis