The automotive smart display market is growing rapidly, mainly due to the rapidly evolving automotive industry that is witnessing the increase in demand for smart displays. The spreading awareness for safety features among consumers is resulting in an increasing number of smart display set-ups inside vehicles.
According to a recent study analysis published by Market Research Future (MRFR), the global automotive Smart display market is anticipated to accrete USD 9.78 BN by 2023, registering a staggering double-digit CAGR over 12.56 % between 2018 and 2023.
Over the next few years, augmented reality smart displays will help to make driving even more comfortable and safe. The increasing demand for smart displays in order to improve the consumer experience in vehicles to ensure safety is another major factor driving the growth of the smart displays market.
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Global Automotive Smart Display Market – Segments
There are four key dynamics that the market is segmented into
By Display Technology: LCD and TFI-LCD among other advanced technology.
By Driving Level: Conventional and Semi-autonomous.
By Vehicle Types: Passenger vehicle and Commercial vehicle.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Automotive Smart Display Market – Regional Analysis
The Asia Pacific accounts for the leading region in the global automotive smart display market.
The burgeoning automotive sector, heading with the strengthening economy in countries, such as India, China, and South East Asian countries drives the demand for smart displays in the region.
Moreover, the development in the automotive manufacturing sectors in rapidly emerging economies such as China and India is driving the regional market. The rapid industrialization, which helps in the production of vehicles, propels the growth of the regional market.
Additionally, high production of vehicles, low manufacturing cost and availability of cost-competitive workforce are some of the factors that boost the APAC market. Furthermore, the huge technological advancements alongside the increasing number of OEM and aftermarket parts companies are driving the growth of the automotive smart display market in the region.
The adoption of automotive smart displays in mid-segment range cars led by the improving socio-economic conditions in the region impacts the regional market growth, positively. Furthermore, the increasing number of display manufacturers that have shifted their bases in the emerging APAC countries, recently is providing a huge impetus to the market growth.
The North America automotive smart display market accounts for the second largest market, globally. Stringent safety norms are expected to foster the growth of the regional market. Furthermore, increasing awareness about the safety systems installed in an automotive system drives the regional market.
The European automotive smart display market has emerged as a profitable market, globally. Factors such as the augmenting demand for luxury or premium cars and SUV’s equipped with automotive smart display systems are propelling the growth of the market in the region.
Global Automotive Smart Display Market – Competitive Analysis
Highly competitive, the automotive smart display market appears to be fragmented characterized by the presence of several major well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, technology launch, and expansion in order to maintain their positions in this market by gaining a competitive advantage. Strategic alliances between these players support the growth and expansion plans of the key players during the forecast period.
Key players leading the global automotive smart display market include Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Visteon Corporation (US), LG Display (South Korea), Valeo SA (France), Alpine Electronics Inc. (Japan), Delphi Automotive PLC (UK), and Magna International Inc. (Canada) among others.
March 20, 2019 — Clinc Inc. (the US) a leading developer of software artificial intelligence based applications announced securing USD 52 MN in series B financing led by its investors partners Drive Capital and Hyde Park Venture Partners to bring conversational AI to automotive smart display.
February 26, 2019 —- Faurecia (France), a leading automotive technology provider announced its partnership with Japan Display Inc. (Japan), a leader in automotive displays to enhance the digital user experience in vehicles. Partnering companies will cooperate on the development and integration of large displays into automotive interiors while leveraging their expertise so that the functionalities and design of large screens will be a key element of cockpit attractiveness.
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