Automotive Smart Display Market Size, Share & Trends Analysis Report By Display Size (5'' - 10", Greater Than 10"), By Display Technology (TFT-LCD, OLED), By Application (Center Stack, Head-up Display), And Segment Forecasts, 2021 - 2028

Report Overview

The global automotive smart display market size was valued at USD 11.37 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The increasing demand for advanced functions, including navigation, multimedia systems, driver assistance, and connected car features, and the improving driver-to-vehicle communication are anticipated to boost the use of the smart display in the automotive sector. Furthermore, the growing demand for enhanced safety, comfort, and convenience in automobiles, especially in developing and mature economies, is anticipated to propel the market growth over the forecast period. The rise in the demand for autonomous and semi-autonomous vehicle technology and the growth of the high-end and luxury car segments, especially in the emerging markets, are also expected to offer growth avenues for the market over the forecast period.

The use of smart displays for automotive applications is growing at a rapid pace. The market relies on the demand trends in the automobile industry, the progress toward developing autonomous vehicles, technological advancements in cockpit electronics, and buyer preferences. Moreover, smart displays play an essential role in making critical driver assistance functions available on a single-touchscreen platform.

Technologies such as gesture control systems, advanced infotainment systems, head-up displays, telematics, central controllers, and steering-mounted controls are increasingly being used in passenger vehicles for safety, comfort, luxury, and security benefits. The governments of several countries across the globe are implementing regulations pertaining to vehicle safety and security. This has prompted the demand for electronic devices, including smart displays, across the globe.

The in-vehicle infotainment systems and electronic components play a significant role, particularly for commuters, mobile workers, excursionists, and travelers. The cockpit electronics technology trends and innovation help enhance the driver and passenger experience in vehicles. An increase in the size, number, and quality of displays in cockpit electronics is expected to create avenues for industry growth. Furthermore, the integration of voice recognition, AI-enhanced agent, and natural-language processing to enhance autonomous vehicle experience is expected to boost the market growth. Driver monitoring systems are among a few technologies chased by tier 1 suppliers and automotive OEMs.

The demand for smart display and connected infotainment solutions is increasing in the automotive space. By the end of 2020, it is estimated that 75% of all passenger vehicles on road will be linked to the internet via 3G/4G connectivity. The usage and acceptance of Google’s Android Auto and Apple’s CarPlay standards are increasing. This trend is expected to continue as technology advances. Moreover, displays that use 3D, multiple layers, auto-stereoscopic, prismatic, Diffractive Lightfield Backlighting (DLB), and other depth-conveying technologies are expected to gain traction over the forecast period, thus creating opportunities for market growth. For instance, the Honda E urban Electric Vehicle (EV) features a 32-inch-wide console display with three separate displays underneath a seamless top layer.

The economy worldwide has experienced a massive setback due to the COVID-19 outbreak, negatively impacting vehicle production. The aftermath of the COVID-19 pandemic has resulted in supply chain disruptions with several production facilities coming to a halt. The outbreak has negatively impacted the sale of passenger and commercial vehicles, subsequently impacting the demand for smart displays. The EU market has led the smart display sales in the past, however, recently, the adoption rate has witnessed a decline due to a dip in automotive sales. Europe is expected to experience mixed recovery cycles owing to the economic stimulus packages and local restrictions. According to the German Association of the Automotive Industry (VDA), in Europe, 5.1 million passenger cars were registered in the first half of 2020, 39% less compared to 2019. Moreover, the sales of passenger vehicles in the U.S. reduced by around 26% in 2020 compared to the previous year.

Display Size Insights

The 5''-10" display size segment accounted for the largest revenue share of 46.7% in 2020. 5''-10" smart displays are used for applications, such as advanced instrument clusters, center stack touchscreen displays, and rear-seat entertainment touchscreen units. These display units integrate informatics and telecommunication technologies and make them available on single-touchscreen displays of 5''-10". These display panels are compatible with a car’s operating systems, such as QNX software systems. In 2018, Visteon's SmartCore cockpit domain controllers based on Blackberry/QNX and Qualcomm Snapdragon became the first ones installed in mass-produced passenger vehicles.

The greater than 10” smart display segment is projected to register the fastest CAGR of 9.2% from 2021 to 2028. The segment is majorly driven by applications in electric vehicles, premium cars, and semi-autonomous and autonomous cars. An increase in the demand for semi-autonomous, autonomous, and electric vehicles is expected to drive the demand for larger than 10" smart displays. The greater than 10" displays in electric vehicles enable the integration of every function onto one display. These displays make climate control, driving mode settings, suspension settings, and other driver-controlled functions available at the touch of a screen.

Display Technology Insights

The TFT-LCD display segment accounted for the largest share of 53.4% in 2020. LCD and TFT-LCDs are commonly used in display applications as they meet the durability and temperature standards. Depending on the range of temperature required and the function of the display, manufacturers use a combination of TFT and LCD in a vehicle. The basic instrument cluster, center stack touchscreen display, and rear-seat entertainment touchscreen display are equipped with LCD panels. Advanced applications are equipped with TFT-LCD owing to its enhanced visual quality.

The OLED display segment is expected to register the fastest CAGR of 10.3% from 2021 to 2028. Passenger cars with OLED displays are being showcased at various automotive exhibitions, however, the penetration rate is low compared to the LCDs in the consumer models. Moreover, OLED automotive smart display systems are expected to witness faster adoption in comparison to other display technologies over the forecast period. Most of the upcoming vehicles are equipped with OLED displays. For instance, Cadillac announced the SUV 2021 Escalade featuring a curved OLED screen.

Application Insights

The center stack display segment accounted for the largest share of over 40.0% in 2020. Center stack displays are infotainment systems that offer a range of interactive features, such as navigation, music, cabin temperature controls, and other information. Advancements in the field of self-driving and connected cars are expected to propel the demand for center stack displays in vehicles. Additionally, several vehicle OEMs are aiming at offering advanced center stack display solutions in mid-segment and economical vehicle variants, thereby driving the segment.

The Head-up Display (HUD) segment is projected to register the fastest CAGR of 8.7% over the forecast period. HUD is a transparent display that provides information in the driver’s line of sight without the need to look away from the road. The integration of innovative solutions, such as augmented reality and global positioning systems, with the head-up display system, is anticipated to drive the segment from 2021 to 2028.

Regional Insights

Asia Pacific accounted for the largest revenue share of over 50.0% in 2020 and is anticipated to witness the fastest growth over the forecast period. China accounted for around 50% of the passenger vehicle sales in the region. The country emerged as a leader in passenger car production and sales, with 21.3 million units and 21.4 million units, respectively, in 2019. Some of the region's key players include Alps Alpine Co., Ltd., Panasonic Corporation, and Hyundai Mobis. The presence of a limited number of manufacturers creates substantial investment opportunities for regional suppliers to take advantage of the local demand, making the region an attractive market for investors.

The European market accounted for a considerable share in 2020. The region is a manufacturing hub for prominent automotive OEMs and premium vehicle manufacturers. Production activity in the region has been propelled by investments made by OEMs, such as Daimler, Jaguar Land Rover, Volkswagen, BMW, Nissan, and Honda. A majority of premium vehicle manufacturers in the region installed advanced automotive electronics systems in vehicles, which is projected to drive the European market.

Key Companies & Market Share Insights

Key players offer a wide range of automotive smart display components, such as digital instrument cluster, digital cockpit system, center stack display, rear-seat entertainment system, and head-up display unit for passenger cars and commercial vehicles. The companies are focusing on providing technologically driven and advanced products to enhance their product offerings in the market. Companies are undertaking strategic initiatives such as regional expansions, acquisitions, mergers, partnerships, and collaborations to grow in the market.

Moreover, these players are consolidating their market shares by undertaking M&A activities. For instance, in October 2020, Hyundai Mobis announced a strategic investment in Envisics, a provider of Augmented Reality Head-up Display (AR HUD). Hyundai Mobis and Envisics are expected to develop autonomous driving specialized AR HUD, targeting mass production by the year 2025. In May 2018, Continental AG increased its investment in DigiLens Inc. The latter company is a provider of holographic waveguide projection technology. DigiLens Inc.’s holographic waveguide technology would enable the use of head-up displays for applications in automotive displays. Some prominent players in the global automotive smart display market include:

• Alps Alpine Co., Ltd.

• Continental AG

• Denso Corporation

• Hyundai Mobis

• Nippon Seiki Co., Ltd.

• Panasonic Corporation

• Pioneer Corporation

• Robert Bosch GmbH

• SAMSUNG (HARMAN International)

• Visteon Corporation

Automotive Smart Display Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global automotive smart display market report by display size, display technology, application, and region:

• Display Size Outlook (Revenue, USD Billion, 2016 - 2028)

  • Less than 5''

  • 5''-10''

  • Greater than 10''

• Display Technology Outlook (Revenue, USD Billion, 2016 - 2028)

  • LCD

  • TFT-LCD

  • OLED

  • Others

• Application Outlook (Revenue, USD Billion, 2016 - 2028)

  • Digital Instrument Cluster

  • Center Stack

  • Head-up Display (HUD)

  • Rear Seat Entertainment

• Regional Outlook (Revenue, USD Billion, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa