Analysis by Size (Less Than 5'', Between 5'' - 10", and Greater Than 10"); by Technology {Liquid-Crystal Display (LCD), Thin-Film-Transistor Liquid-Crystal Display (TFT LCD), and Organic Light-Emitting Diode (OLED)}; by Autonomy (Semi-Autonomous, and Autonomous); and by Application (Rear Seat Entertainment, Digital Instrument Cluster, Center Stack, and Head-up Display) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global automotive smart display market is estimated to garner a revenue of ~USD 22 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 13 Billion in the year 2022. 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 displays 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
Growing Sales of Vehicles with Rising Spending Capacity of People – in which smart displays are used to provide comfort and convenience with access to the latest technology. An automotive head-up display is any transparent display that presents data to the vehicle user without requiring users to look away from their usual viewpoints. The rising demand for vehicles is expected to boost the automotive smart displays market in the forecasted period. It was found that the global sales of vehicles in 2021 reached ~82 million.
Rising Trend of Electric Vehicles with Increasing Fuel Cost – for instance, in the European Union, the share of new passenger car registrations with all-electric propulsion reached just below 9% in 2021.
Upsurge in the Consumer Demand for Smart Cars Across the World – for instance, all smart vehicles sold globally with different levels of automation in Europe reached over 25% in 2022.
Increasing the Number of Connected Vehicles to Support Passenger Transport – which for instance is expected to exceed ~300 million in 2035 in the United States, making it the biggest market for connected vehicles.
Challenges
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.
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 automotive smart display 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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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.
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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing number of vehicles as well as connectivity in vehicles along with an increasing share of electronics in the new cars are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.
Ans: High cost involved in the research & development along with the increased overall cost of vehicles are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Infineon Technologies AG, Nippon Seiki Co., Ltd., Continental AG, Denso Corporation, Nippon Seiki Co., Ltd., Infineon Technologies AG, Denso Corporation, Alps Alpine Co., Ltd., Robert Bosch GmbH, Visteon Corporation, Aptiv Global Operations Limited, ZF Friedrichshafen AG, Magna International Inc.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by size, technology, autonomy, application, and by region.
Ans: The center stack segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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