Automotive Display Market Size

Automotive Display Market Analysis

The automotive display market was valued at USD 11.9 billion and is expected to reach USD 17.3 billion, registering a CAGR above 6.41% during the forecast period.

• The recent COVID-19 has disrupted market growth. With lockdowns and travel restrictions, the demand for vehicles declined. As a result, the growth of automotive parts of the automotive industry also declined in the past two years. This trend is seen in all segments related to the automotive industry. However, post-pandemic,, as the situation is improving, the companies are focusing on developing new products that suit the customers' demands.
• For instance, in November 2022, Marelli Corporation updated its featured technology portfolio. "Digital Design Studio" by Marelli will be on display. In addition to the Smart Surface solution, the company will launch the Horizon Head-Up Display, which projects navigation, indicator, and warning information close to the bottom edge of the windshield, allowing objects in the driver's blind spot to be easily recognized.
• Over the long term, the market is primarily driven by technological advancements and innovations in various vehicle display systems such as infotainment, telematics, instrument cluster, etc. In developed nations, rising consumer preference toward driving convenience and safety is driving the market's growth. Further, with an increased need for vehicle safety features, technologies such as augmented reality have turned from a mere concept into reality. Many luxury car brands, such as BMW, Jaguar, and Mercedes-Benz, have already implemented AR head-up displays and brought real-time gaming experiences.
• For instance, in October 2022, AirConsole and the BMW Group announced a collaboration to integrate casual gaming into new BMW vehicles. AirConsole is a gaming platform that works perfectly with the BMW Curved Display and has a large and diverse game catalog.
• With the growing sales of passenger cars, the rising demand for connected vehicles, and a high disposable income, the automotive display market has been witnessing rapid growth, particularly in Asia-Pacific. Moreover, the region is expected to dominate the market due to the increasing sales of luxury cars such as Mercedes-Benz, Audi, Porsche, BMW, and Jaguar Land Rover. Therefore, the automotive display players focus on developing displays for automakers' needs.
• For instance, in December 2022, Faurecia Clarion Electronics, a subsidiary of the Forvia Group, stated that the company would focus on developing large, irregular displays. The company will create high-value-added products to meet automakers' needs.