Global Automotive Display Market to hit USD 27.21 Billion by 2030 growing at a CAGR of 18.26 percent

Maximize Market Research has published a detailed analytical report on the Automotive Display Market

PUNE, India, Aug. 21, 2024 /PRNewswire/ -- The automotive display market is being reshaped by the growing demand for advanced technologies driven by the expanding automotive industry. The development of augmented reality (AR) head-up displays (HUDs). These displays project critical driving information directly onto the windshield, enhancing driver awareness and safety. They show navigation directions, and speed, and even highlight potential hazards on the road. According to MMR reports, the adoption rate of AR HUDs is expected to grow by 20% annually over the next five years. This rapid increase is boosted by the rising demand for enhanced driver assistance systems and the integration of smart technologies in vehicles. By 2025, it is estimated that over 30 million vehicles globally will be equipped with AR HUDs. As automakers transition to electric vehicles and enhance safety features, there is a heightened need for sophisticated display solutions.

Innovations such as high-resolution screens, augmented reality, and advanced driver assistance systems are becoming essential for modern vehicles. Increased focus on connectivity and user experience fuels this demand, pushing manufacturers to develop more advanced and integrated display technologies. The shift toward electric and autonomous vehicles accelerates this trend, growing the market for innovative automotive displays.

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Steady Growth and Evolving Demand in the Automotive Display Market

The Automotive Display Market is projected to grow, reaching 244 million units by 2030, with an annual growth rate of 1% to 3%. The market is driven by rising demand for advanced in-cabin experiences, especially in electric vehicles (EVs), and the increasing integration of ADAS and AI technologies. The market supply is responding with innovations in direct backlight LCDs, OLEDs, and large, pillar-to-pillar displays. However, the industry faces challenges, including high manufacturing costs and evolving business models. As automakers transition to software-defined vehicles, the demand for sophisticated displays is growing, putting pressure on profit margins and supply chains within the Automotive Display industry.

Automotive Display Market: Segmentation

The global Automotive Display Market is segmented into Display Types, the Display type segment including Thin-Film-Transistor Liquid Crystal Display (TFT LCD), Passive-Matrix Organic Light-Emitting Diode (PMOLED), Passive-Matrix Liquid Crystal Display (PMLCD), and Active-Matrix Organic Light-Emitting Diode (AMOLED).  Thin-Film-Transistor Liquid Crystal Displays (TFT LCD) dominated the Automotive Display Market in the year 2023. Due to their versatility, high resolution, and vivid color reproduction, they are ideal for infotainment systems and digital clusters. Thin-Film-Transistor Liquid Crystal Displays (TFT LCD) dominated the Automotive Display Market in 2023. Due to their versatility, high resolution, and vibrant color reproduction. Their ability to deliver clear, detailed graphics makes them ideal for infotainment systems and digital clusters, providing drivers with critical vehicle information and interactive features. TFT LCDs are also cost-effective and scalable, making them suitable for a wide range of vehicle models. Their established manufacturing processes and reliable performance contribute to their dominance, ensuring they remain a preferred choice in automotive display technology.

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Regional Insight: Asia Pacific region dominated the Automotive Display Market

The Asia-Pacific region dominated the Automotive Display Market in 2023 due to several key factors. Rapid economic growth and increasing automotive production in countries like China, Japan, and South Korea drive high demand for advanced automotive displays. Also, government policies promoting the adoption of electric vehicles and advanced driver assistance systems (ADAS) have boosted the Automotive Display Market's growth. Subsidies, tax incentives, and stringent safety regulations encourage manufacturers to integrate cutting-edge display technologies in their vehicles. These supportive measures create a conducive environment for the automotive display market to thrive in the region.

The region's strong manufacturing capabilities and competitive pricing contribute to cost-effective production and adoption of new technologies. The rising consumer preferences for high-tech features in vehicles and significant investments by automotive and technology companies bolster market dominance. The region's focus on innovation and advanced display technologies supports its leadership in the global automotive display sector.

Automotive Display Market: Segmentation

By Vehicle Type

1. Passenger Vehicle
2. Light Commercial Vehicle
3. Heavy Commercial Vehicle 

By Display Type

1. Thin-Film-Transistor Liquid Crystal Display (TFT LCD)
2. Passive-Matrix Organic Light-Emitting Diode (PMOLED)
3. Passive-Matrix Liquid Crystal Display (PMLCD)
4. Active-Matrix Organic Light-Emitting Diode (AMOLED)

By Display Size

1. 3"-5"
2. 6"-10"
3. Greater than 6
4. Others

By Application

1. Telematics
2. Navigation
3. Infotainment

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Automotive Display Market Key Players:

Major Contributors in the Automotive Display Industry in North America

1. Visteon Corporation - United States
2. 3M - United States
3. HARMAN International - United States

Leading players in the Europe Automotive Display Market

1. Continental AG - Germany
2. Magneti Marelli S.p.A - Italy
3. Delphi Technologies - United Kingdom
4. Sharp Devices Europe - Switzerland
5. SmartKem Ltd - United Kingdom
6. Robert Bosch GmbH - Germany
7. Garmin Ltd - Switzerland
8. Valeo - France
9. Elektrobit - Finland
10. Barco - Belgium

Key players driving the Asia-Pacific Automotive Display Market

1. Panasonic Corporation - Japan  
2. Nippon Seiki Co. Ltd - Japan
3. YAZAKI Corporation - Japan
4. DENSO CORPORATION - Japan
5. LG Display Co. Ltd - South Korea
6. Alpine Electronics Inc - Japan
7. Japan Display Inc - Japan
8. AU Optronics Corp - Taiwan
9. Innolux Corporation - Taiwan
10. KYOCERA Corporation - Japan

Maximize Market Research is leading Automotive and Transportation Research firm, has also published the following reports:

Global Industrial Display Market: The Industrial Display Market is expected to reach USD 9.67 billion by 2030, with a CAGR of 5.87% between 2024 and 2030. The global market for industrial displays is growing because of the rising demand for human-machine interface (HMI) applications in the manufacturing and process sectors.

Automotive Head Display HUD Market: The Automotive Head-Up Display (HUD) Market is expected to reach US$ 7775.26 Mn by 2030, at a CAGR of 29.45 % during the forecast period. Increases in awareness about passenger and vehicle safety are driving the overall Automotive Head-Up Display (HUD) market.

Interactive Display Market: The Interactive Display Market size was valued at USD 12.9 Billion in 2023 and the total Interactive Display Market revenue is expected to grow at a CAGR of 6.7% from 2024 to 2030, reaching nearly USD 20.31 Billion by 2030. Increasing Demand in Educational and Healthcare Sectors Boosting Interactive Display Market Growth.

Automotive 3D Surface Display Market: The automotive 3D Surface Display Market is expected to reach USD 77.04 Bn. by 2030, at a CAGR of 3.25% during the forecast period. The rise in demand for luxurious automobile interiors is increasing the automotive 3D Surface Display market.

Automotive Multilayer Display Market: Automotive Multilayer Display Market size was valued at US$ 7.52 Bn. in 2023 and the total revenue is expected to grow at 5.24% from 2024 to 2030, reaching nearly US$ 10.76 Bn. With the significant growth of the automotive industry across the world with rapid urbanization, the demand for vehicles also increases, resulting in rising demand for automotive multilayer displays.

Display Driver IC Market is expected to grow at a CAGR of 8.12% during the forecast period. Global Display Driver IC Market is expected to reach US$ 8.64 Bn. by 2030.

Industrial Touchscreen Display Market was valued at US$ 1225.68 Mn in 2023 and is expected to reach US$ 1917.25 Mn by 2030, at a CAGR of 6.6% during a forecast period.

Wireless Display Market is expected to grow at a CAGR of 10.8% during the forecast period. Global Wireless Display Market is expected to reach US$ 11.01 Bn. by 2030.

Key Benefits for Stakeholders:

• This report offers a comprehensive analysis of the Automotive Display market, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.
• Utilizing Porter's Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.
• A detailed look at market segmentation covers key opportunities within the Automotive Display sector.
• Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

About Maximize Market Research:

Maximize Market Research is a multifaceted Market Research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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