Automotive Smart Display Market size is poised to cross USD 22 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive smart display was around USD 13 Billion. The growth of the market can be attributed to the surge in innovations in the automotive industry as well as the growing demand for smart displays worldwide. For instance, it was found that over 15 million smart displays were sold worldwide in 2020. The increasing use of automotive cars owing to the increasing disposable income of people across the world. The rising preferences of people for entertainment and increasing safety concerns are the reason for the growth of smart display installation in automobiles. The display is used as a small-screen video player and a front and back camera visualizer that prevents accidental bumps into walls or obstacles.
Available on a single-touchscreen platform automotive smart display market play an essential role in the application of important driver assistance functions. Innovative and advanced displays are being incorporated by the original equipment manufacturers (OEMs) to deliver unique user experiences which can differentiate their brand image. With the recent advancements in automotive electronic modules as well as electronic control units, the demand for smart displays is on the rise amongst car users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive smart display market during the forecast period. It is expected that by 2030, electronics are expected make up ~50% of a cost of a new car.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
6% |
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Base Year Market Size (2022) |
USD 13 Billion |
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Forecast Year Market Size (2033) |
USD 22 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Application (Rear Seat Entertainment, Digital Instrument Cluster, Center Stack, Head-up Display)
The global automotive smart display market is segmented and analyzed for demand and supply by application into rear seat entertainment, digital instrument cluster, center stack, and head-up display. Amongst these segments, the center stack segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing number of vehicles along with the surge in the trend of center stack in cars worldwide. For instance, the number of cars with center stack displays rose from ~25% to nearly 50% within the year 2012 to 2020 globally. The technological advancements to offer information and assistance to the driver are increasing the demand for center stack segment growth. The presence of infotainment systems, the use of electronics, multiple screens, and telematics are promoting the use of center stacks in automotive vehicles.
Autonomy (Semi-Autonomous, Autonomous)
The global automotive smart display market is also segmented and analyzed for demand and supply by autonomy into semi-autonomous and autonomous segments. Amongst these two segments, the semi-autonomous segment is expected to garner a significant share. Semi-autonomous vehicles are increasing their popularity around the world owing to the increasing number of in-vehicle automotive smart display applications. The growing development in the automobile industry to enhance the safest of the driver and passengers on the roads is estimated to boost the market growth. Additionally, the increasing preference of people for advanced driver assistance are together boosting the growth of the market. Increasing purchase of sports and luxury cars with rising spending capacity of people as well as living standards. The government regulations to reduce carbon emissions from fuel vehicles are increasing the demand for electric vehicles.
Our in-depth analysis of the global market includes the following segments:
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By Size |
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By Technology |
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By Autonomy |
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By Application |
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APAC Market Statistics
The Asia Pacific automotive smart display market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the presence of a strong automobile network in the region, a growing number of vehicles, as well as the surge in the installment of advanced driving assistance systems (ADAS) in the vehicles. For instance, by 2025, passenger vehicles pre-installed with an ADAS is predicted account for nearly 70% of total vehicles sold in China. The increasing population with the growing urbanization of the region is anticipated to lead the market growth. The increasing number of industries leads to more job opportunities. This is assumed to eventually rise the count of people traveling for the job which increases public transport. The increasing fuel efficiency and traffic promotes the use of electric vehicles and metro stations. Altogether rise the use of smart displays in these automobile vehicles is estimated to boost the market growth during the forecast period as per the market analysis.
Europe Market Forecast
Further, Europe is the second largest market region for the smart display market. The presence of prominent key players and the increasing production of automobiles in the region are expected to drive market growth in the coming years. The use of advanced electronics in the manufacturing of automotive vehicles is also estimated to rise the market growth. Also, the market growth is attributed to the increasing adoption of vehicles with safe and secure methods. As per the estimations, about 10 million passenger cars are produced in the year 2021 in Europe.
Continental AG announced that it has developed a head-up display (HUD) for trams, a technology which was initially designed by the company for cars. Developed by its in-house development team, Continental Engineering Services (CES), the new HUD helps prevent collisions in road traffic.
Infineon Technologies AG launched a new MEMS scanner solution comprising a MEMS mirror and MEMS driver. Its miniature size and low power consumption are the basis for making augmented reality (AR) solutions more widely available for automotive head-up displays and for consumer applications such as wearables.
Author Credits: Harshita Srivastava, Saima Khursheed
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