The global automotive smart display market is projected to soar to a staggering $20.07 billion by 2030, driven by an insatiable demand for cutting-edge vehicle technologies that enhance the driving experience and pave the way for a smarter and safer future on the roads.
The global automotive smart display market is set to reach an impressive value of USD 20.07 billion by 2030, with a strong Compound Annual Growth Rate (CAGR) of 7.7%. This growth is driven by factors such as the increasing demand for advanced safety features, automotive and cockpit electronics, and the rising popularity of semi-autonomous and autonomous vehicles.
Consumers’ changing buying behavior and the flourishing luxury, premium, and high-end car segments worldwide are also contributing to the surge in demand for automotive smart displays. The integration of interactive and smart displays in vehicles from renowned automakers like Jaguar Land Rover, Mercedes-Benz, Volkswagen, Audi, and BMW is playing a pivotal role in advancing cockpit technology.
The adoption of autonomous vehicles is expected to be a major growth driver for the market, as connected cars provide an advanced platform for smart displays by enabling real-time internet connectivity and connectivity to other devices. The increasing use of Advanced Driver-Assistance Systems (ADAS) in connected cars is also spurring the demand for high-quality automotive smart displays.
Key players in the industry are taking steps to promote automated driving, further increasing the adoption of automotive smart displays. For example, Continental AG announced a partnership with edge artificial intelligence (AI) semiconductor company Ambarella, Inc. to develop advanced driver assistance systems and automated driving solutions.
In terms of display size, displays larger than 10 inches are expected to register the highest CAGR over the forecast period, driven by the proliferation of semi-autonomous and autonomous vehicles and the widespread adoption of ADAS. The TFT-LCD segment dominates the market in terms of display technology, while the center stack display segment accounted for the largest revenue share in 2022.
The Asia Pacific region currently holds the largest market share globally, thanks to increased production and sales of passenger vehicles in the region. Additionally, the development of advanced technologies such as artificial intelligence, machine learning, and augmented reality is propelling market expansion in the Asia Pacific.
Overall, the global automotive smart display market is experiencing significant growth due to the increasing demand for advanced features and the adoption of autonomous vehicles. With key players and technological advancements driving the market, this sector is set to continue its upward trajectory in the coming years.