The “Automotive Smart Display Market by Application, Display Size (&lessThan;5, 5-10, >10), Display Technology (LCD, TFT-LCD, OLED), Autonomous Driving (Semi-autonomous, Autonomous), Electric Vehicle, Vehicle Class, Vehicle Type, Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global automotive smart display market is projected to grow from USD 7.2 billion in 2020 to USD 10.9 billion by 2025, at a CAGR of 8.8% from 2020 to 2025.
The automotive industry is continuously evolving, with an increasing focus on semi-autonomous and autonomous vehicle technologies. Several vehicle manufacturers have showcased their new concept cars with autonomous and connected car technologies. These cars, with their advanced technologies and radical designs, are expected to hit the market soon. The smart displays used in these cars need to provide comfort and convenience as well as access to the latest technology. The increasing demand for smart displays can be attributed to advances in semi-autonomous and autonomous technologies. The need to integrate such technologies is higher in these vehicles compared to conventional vehicles.
BEV segment is projected to be the fastest-growing electric vehicle during the forecast period
The adoption of strict emission norms by the governments of major countries has increased the penetration of electric vehicles worldwide. The demand for BEVs is expected to increase in the coming years due to an increase in the adoption of strict emissions norms by the governments of various countries. Several governments now provide subsidies for the use of environment-friendly vehicles, thereby encouraging the use of electric vehicles. Stringent emission regulations in the US, particularly in states such as California and New York, have led to increased sales of electric vehicles. Electric vehicles tend to have a higher number of electronics/advanced systems.
Thus, the growing number of electric vehicles will result in an increased demand for automotive smart display systems. In Europe, the automotive smart display market for BEVs is estimated to grow due to the emission regulation mandates and the development of electric vehicle technology in the region. OEMs are also expanding their manufacturing facilities worldwide to increase the production of electric vehicles. For instance, in August 2017, Tesla announced its plan to raise USD 1.5 billion to fund the development of its cheapest electric car, which proves the aggressiveness of manufacturers in the market.
The LCD segment is estimated to be the largest automotive smart display market, by application
LCD is a commonly used technology in automotive display applications and meets the temperature and durability standards for all automotive display applications. Depending on the function of the automotive display application and the range of temperature, manufacturers use a combination of LCD and TFT in display applications. Basic LCD panels are of two varieties, namely, monochrome LCD panels that usually display images in blue or dark grey tones against a grey or white background, and color LCD panels that produce colored images based on either a passive or an active matrix. Low-end vehicles with basic display functions use monochrome LCD panels and, for a few applications, use a color LCD panel of a passive matrix that is cost-effective. LCDs are mostly used in digital instrument clusters and center stacks in vehicles. The adoption of digital instrument clusters and center stacks is witnessed in both economical and mid-segment vehicles. Many commercial vehicles are also equipped with LCD digital instrument clusters and center stacks. Thus, increasing the demand for LCD segment.
Asia Pacific automotive smart display market is projected to grow at a significant rate during the forecast period
The Asia Pacific region comprises emerging economies, such as China and India, along with developed nations, such as Japan and South Korea. In recent years, the region has emerged as a hub for automobile production. The growing purchasing power has triggered the demand for automobiles in the region. Steady growth in demand for semi-autonomous vehicles in the emerging markets of Asia Pacific is also responsible for the growth of the automobile sector in the region. Decreasing display prices and the rising number of luxury vehicles are expected to drive the Asia Pacific automotive smart display market.
Integration of Smartphone Connectivity in Cars
Increasing Focus to Provide Ar Experience
Rising Adoption of Cameras in Vehicles
Increasing Adoption of OLED Technology
Focus on 5G and Wireless Technology
Advent of Semi-Autonomous Vehicles
Rising Sales of Electric Vehicles
New Entertainment and Smart Mirror Applications
For more information about this report visit https://www.researchandmarkets.com/r/ymkx7g
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