The automotive smart display market is projected to grow significantly driven by the growing demand for luxury and premium vehicles. Smart displays enable drivers to access vital information through dashboard displays along with navigation, entertainment and communication features on-the-go. Growing digitalization of vehicles and increasing adoption of advanced driver-assistance systems (ADAS) is further fueling the adoption of connected car technologies.
The Global Automotive Smart Display Market is estimated to be valued at US$ 12.83 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the automotive smart display market are Alps Alpine Co., Ltd., Continental AG, Delphi Automotive PLC, Denso. These players are focusing on developing advanced display solutions to enhance the in-vehicle experience.
Automotive Smart Display Market Demand is rising awareness about comfort, safety, and convenience features in vehicles has opened up opportunities for automotive smart display manufacturers. Additionally, growing demand for high-end infotainment systems from luxury vehicle buyers is also boosting market revenues.
Advancements in connected car technologies such as 5G connectivity solutions and evolution of ADAS functions are enabling smarter displays with enhanced processing capabilities. Manufacturers are leveraging latest technologies like AI, ML and augmented reality to make displays more intelligent and bring transformativechanges in mobility experience.
Market drivers
The primary driver boosting the automotive smart display market is the increasing connectivity in modern vehicles. Growing preference towards connected vehicles has prompted OEMs to focus on networking options in their models. This has tremendously benefitted smart display makers by raising product demand. Additionally, automakers are also integrating novel technologies such as head-up displays and large sized center stack screens to deliver enhanced multimedia support to passengers. Surging preference for immersive in-cabin experiences among buyers has augmented the need for smart displays in recent years.
Current challenges in the Automotive Smart Display Market:
The automotive smart display market is facing various challenges currently including high costs of developing and manufacturing smart displays with advanced technologies, complex supply chains and dependencies on electronic component suppliers, and changing consumer preferences and demand trends, especially with rising popularity of electric vehicles. Smart display manufacturers have to invest heavily in R&D to develop innovative display solutions with features like touchscreens, gesture recognition etc. while keeping costs competitive. Supply chain disruptions due to Covid and trade issues have also impacted component availability and production schedules.
SWOT Analysis
Strength: Smart displays offer enhanced infotainment, connectivity and convenience features to drivers and passengers. Advanced technologies enable tailored customized in-vehicle experiences.
Weakness: High costs of developing and procuring components for smart displays can reduce automaker margins. Supply chain issues pose risks.
Opportunity: Growing electric mobility and autonomous driving presents new areas to utilize smart displays. Younger consumers demand more in-car entertainment and connectivity options.
Threats: Stringent regulations around driver distraction may limit certain interactive features. Changes in technology roadmaps can quickly make solutions obsolete.
In terms of value, the North American region currently dominates the automotive smart display market owing to high vehicle production volumes and demand for advanced infotainment features from customers. However, the Asia Pacific region excluding Japan is expected to witness the fastest growth during the forecast period owing to rising automobile manufacturing and sales in major countries like China and India coupled with growing preferences for connected vehicle technologies.
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