13 June 2019, The global automotive display system market is expected to display higher growth rate over the next
seven years. The market is subject to witness a substantial growth due to the
growing concerns of driver and passenger safety. Furthermore, rising demand for
luxury and high-tech vehicles is expected to propel the market growth in the
forecast period. The adoption of modern-day electronic techniques and devices
has made the automotive systems more reliable, accurate, and fuel-efficient.
Growing competition in automotive sector with substantial
increase in the number of automotive original equipment manufacturers (OEMs),
dealers, and additional stakeholders inside the supply chain are anticipated to
drive market growth in the upcoming years. Globally, the market is predicted to
grow at a significant CAGR of 17.84% for the given forecast period, providing numerous
opportunities for market players to invest for research and development in the
automotive display systems market.
In addition, the rising competition in automotive sector
has led to instigate latest technology trends, ultimately influencing the market
growth further. Numerous market players are focusing on research and
development of advanced technologies such as holographic dashboard displays.
Automotive display system are part of in-vehicle display technologies that
ensure driver safety, and are expected to find space in variable vehicles
categories in upcoming years.
With development of holo-active touch systems that are
more economically viable in terms of cost of the product, are gaining
considerable momentum. The growing adoption of latest automation technologies
such as human machine interface (HMI) are providing enough market opportunities
in the automotive sectors. Number of key players in the market are putting
focus on the financial viability of the three dimensional graphics and digital
imaging technology for automotive applications. The automotive industry mainly
depends on the imminent trends in autonomous vehicles that involves the
vehicles with advanced electronics systems.
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| Automotive Display Systems Market |
However, the key factors restricting the market expansion
are system security and risk associated with driver’s capabilities to utilize
the system properly. In addition, possible hacking concerns of the automated
systems are creating major concerns for customers. Yet, the growing use of
automation in automotive sectors is responsible for delivering safety, comfort,
and convenience in luxury cars. Numerous In-vehicle components are witnessing
rapid electrification to deliver required level of comfort and convenience. The
adoption of modern-day electronic techniques and devices has made the
automotive systems more reliable, accurate, and fuel-efficient.
The market is broadly categorized into three major
segments based on the product type such as Center Stack Display, Instrument
Cluster Display and Head-Up Display systems. The Center Stack Display is
considered as one of the fastest growing segment in the automotive display
systems market with substantial revenue generation in the last few years.
Growing popularity of Center Stack Display segment is attributed to the higher
market penetration and increasing demand for luxury vehicles. The Instrument
Cluster Display segment has also witnessed substantial growth owing to the
increase in the number of research & development activities in North
America region.
The market is divided into regional market segment such
as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise implementation of
latest technologies in automobile sector, increase in the number of research
& development activities and existence well-established automotive
manufacturing infrastructure in the region.
Asia-Pacific is predicted to hold higher market share in
the automotive display system market with massive growth in forecast period.
Countries such as Japan, China and Russia are leading the market with robust
growth automotive industry, rising personal disposable income, higher demand
for luxury vehicles, growing investment by market players due to potential
opportunities.
The key players in the automotive display system market
are BMW AG, Cognitive AI Technologies Incorporated, Shenzhen Sunway Industry
Ltd., Exploride Incorporated, WayRay Pvt. Ltd., and Delphi Automotive Systems
LLC.
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