Automotive Display System Market Outlook 2023-2032: Size, Share And Trend Analysis As Per The Business Research Company's Automotive Display System Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, July 19, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the automotive display system market identifies the growth in vehicle manufacturing to boost the automotive display system market ahead in the coming years. According to a report published in March 2022 by the European Automobile Manufacturers' Association (ACEA), the main lobbying and standards group for the European Union's automobile industry, sales of passenger cars in the United States increased by 5.5% from 2020 to 11.9 million units in 2021. In 2021, about 6.3 million passenger automobiles were produced in US auto plants, a 3.1% increase over 2020. In 2021, Chinese automakers manufactured 20.7 million automobiles, a 7.1% increase. The total number of cars produced worldwide increased by 2.7% to 63.2 million in 2021. As a result, the expansion of vehicle manufacturing drives the expansion of the automotive display system market.
The global automotive display system market size is expected to grow from $18.37 billion in 2022 to $21.30 billion in 2023 at a compound annual growth rate (CAGR) of 16.0%. The global automotive display system market size is then expected to reach $37.09 billion in 2027 at a CAGR of 14.8%.
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Technological developments are a prevalent trend in the vehicle display system market. To maintain their market position, major businesses in the automobile display system market are focusing on bringing technological advances. Visteon Corporation, a US-based vehicle electronics business, for example, launched microZone in June 2021, a new OLED alternative and the first display technology to give higher optical performance without compromising dependability or lifetime. MicroZone technology is a cutting-edge alternative to organic light-emitting diodes (OLEDs) and the first of its kind in the automotive industry. Visteon created MicroZone in response to market demand for a high-end experience-delivery display that meets stringent automotive criteria. Based on existing LCD technology and having met stringent automotive qualification standards, MicroZone is recognized as the first car display to deliver extraordinary optical performance without compromising vehicle durability.
Major players in the automotive display system market are Continental AG, Visteon Corporation, Panasonic Holdings Corporation, DENSO Corporation, Nippon Seiki Co. Ltd., Robert Bosch GmbH, Magneti Marelli S.p.A., Yazaki Corporation, Delphi Technologies, Alpine Electronics, LG Display Co. Ltd., AUO Corporation, Barco NV, Pioneer Corporation, Garmin Ltd., Japan Display Inc., Elektrobit Automotive GmbH, and SmartKem Ltd.
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As per the automotive display system market analysis, North America was the largest region in the automotive market in 2022.
The global automotive display system market is segmented by product type into center stack display, camera information display, reconfigurable instrument cluster, driver information display, rear seat entertainment, head-up display; by technology into LCD, OLED; by screen size into < 5" inch, >5"-10" inch, >10” inch; by vehicle type into mid-size car, luxury car, suvs and crossovers, light commercial vehicles, other vehicles
Automotive Display System Global Market Report 2023 by The Business Research Company provides insights on the automotive display system market size, automotive display system market segments, automotive display system market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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