Automotive Display Market Size to Rise at a Whopping 10% CAGR
The Automotive Display Market is set to grow from its current market value of more than $15bn to over $30bn by 2025; as reported in the latest study by Global Market Insights.
Global automotive display market share is anticipated to witness a massive upscale in revenue in the following years, perhaps attributing to rapid expansion and innovations in the new gen automotive technologies. Ascribing to this, the industry is witnessing an upsurge in the demands for interactive surfaces in the passenger cars, thereby stimulating the business dynamics during 2019 to 2025.
A paradigm shift towards the adoption of in-vehicle infotainment systems with an intent to maximize the customer comfort and luxury has triggered the market growth. As a matter of fact, numerous automakers are looking forward to enhancing their potential through product innovation, eventually proliferating the market size.
Further, rising disposable incomes across the developing economies have leveraged the sales of passenger cars worldwide, thereby supplementing the industry growth.
It is imperative to know that automotive display market has emerged as one of the most lucrative business spaces today on the grounds of the advent of more intuitive display panels for head-ups, rear seat entertainment, as well as center stack displays.
Automotive display market is characterized by a vast application gamut led by the head-gear display segment and has accordingly gained a widespread popularity over the past few years.
The head-up displays are probable to accrue noticeable advancements in the following years due to the increasing cognizance about the vehicle security across the developed countries. The product finds an expansive use amongst numerous premium car manufacturers and permits the projection of necessary driver information directly on the windshield of the car whilst reducing the driver distractions over a large scale.
Likewise, the onset of AR technology has further fueled the market growth. The AR embedded display product provides situation specific data such as the distance, collisions warning, and others.
Not to mention, head-gear display segment in 2018 accounted for $1.5bn of the global automotive displays market share and is probable to achieve a mammoth valuation of $4bn by 2025.
The automotive sector worldwide is undergoing a massive revolution and aims to offer seamless consumer experiences allowing the center stack automotive displays to garner the mainstream attention. On these grounds, it is prudent to mention that the widescale use of center stack displays for entertainment and media features, and navigation systems has aided the segment to emerge as one of the major revenue pockets for the market in the 21st century.
Introduction of larger display panels to augment the efficiency, user experience, and machine interaction by the industry giants have positively influenced the business dynamics.
Subsequently, the center stack display segment is predicted to depict a CAGR of 14% through 2025. Additionally, the center stack display unit shipments are expected to potentially account for $195m by 2025.
Asia-Pacific, driven by India, China, and Japan has been witnessing consistent growth in the automotive production over the years on account of which it has emerged as one of the most profitable grounds for the global automotive displays market. The widescale presence of prominent automakers across the region is also credited for the substantial rise.
