The Automotive Smart Display Market is estimated to be worth USD 7.2 billion in 2020 and is projected to reach USD 10.9 billion by 2025, at a CAGR of 8.8% during the forecast period. The market is driven by increased customer awareness about road and vehicle safety, demand for improved consumer experience in vehicles, and high growth in the luxury and high-end cars segments, mainly in the emerging markets.
Automotive smart displays help in two-way communication between a driver and a vehicle. Traditional automotive electronics included basic visual and analog interfaces, such as control buttons, analog and LCD instrument clusters, and basic central displays. However, modern automotive electronic components consist of multiple integrated advanced technologies that help create a seamless driving experience. Software providers play a vital role in the development of such advanced technologies. These providers help support the hardware part of these technologies by introducing innovative applications that support automobile manufacturers as well as OEMs to provide out of the box solutions to their customers. Some of the advanced automotive electronic components include advanced instrument clusters that are fully digital and/or 3-dimensional. Advanced center stack displays that integrate navigation and infotainment functions into a single screen platform, rear seat entertainment units, smart rear-view mirrors, gesture recognition solutions, and voice control, among others, are some of the applications of smart displays.
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Market Dynamics:
Driver: Integration of smartphone connectivity in cars
The syncing of smartphones with infotainment systems, such as Android Auto, Spotify, and Apple CarPlay, will increase the demand for smart displays in vehicles. Both Apple CarPlay and Android Auto are similar in that they involve the usage of smartphones to run the operating systems, which have been optimized for road applications. The systems enable easy navigation, integration of advanced features with cockpit electronics, easy access to music, phone call management etc., all of which without distracting the driver. Both the operating systems even integrate voice assistants, such as Apple Siri and Google Assistant, to deliver a handsfree experience. Cars must have the correct kit to run the operating systems, and more manufacturers are embracing them, often allowing a support feature as a standard inclusion on their infotainment systems or at least as an option.
Opportunity: Focus on 5G and wireless technology
Along with the increasing use of wireless technology, the advent of 5G technology is expected to create more opportunities for the automotive smart display market. 5G offers high-speed internet, which helps in integrating automotive smart display systems with innovative applications, such as virtual reality (VR), augmented reality (AR), cloud gaming, and media streaming. These applications will require better quality display screens, which will trigger the demand for automotive smart displays.
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5G enables the integration of automotive applications with smart display systems. Hence, large-size integrated display panels will be required in vehicles, instead of the conventional dashboards. AR and VR devices leverage 5G to offer a better experience. Both AR and VR require higher resolution panels for a display to offer better performance. Compared to 4G LTE technology, 5G offers a faster speed of up to 5 times and 10 times lower latency.
Key Market Players
Some of the leading manufacturers and suppliers of automotive smart display market are Bosch(Germany), Continental (Germany),
DENSO (Japan), Visteon (US), Nippon Seiki (Japan), Panasonic (Japan),
Pioneer (Japan), Yazaki (Japan), and others. These companies adopted inorganic and organic growth strategies such as new product developments, expansions, supply contracts, collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive smart display market.
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