The Global Automotive Display Unit Market witnessed historical CAGR of 6.2% for 2014- 2021. The rising demand of passenger vehicles in the global market is likely to drive the automotive display unit market during the forecast period. The value of the global Automotive Display Units Market was approximately US$ 14,502.9 Mn in 2021. The automotive display units’ market is predicted to grow at a prominent CAGR of around 8.3% during the forecast period.
“Full digital and navigation display systems will play a vital role in generating market revenue in the automotive display units’ market”, according to FMI’s analysis.
Head-Up Display Mark an Emerging Trend
In the current market scenario, technological advancements in automotive display units are estimated to become more important due to increasing penetration of navigation display systems, software, and various display technologies in automobiles. Moreover, automakers are focusing on head-up display and navigation systems in their vehicles in order to increase safety features.
Automotive display manufacturers have developed technologies such as TFT LCDs and AMOLEDs, which can be used in low ambient light conditions and enhance the vehicle safety. These technologies offer various advantages such as vehicle safety, high resolution, larger display size, high heat-resistance, and lighter than a liquid crystal display (LCD) feature.
Furthermore, stringent safety rules and regulations in countries such as Germany, the U.S., France, and Italy are compelling automotive manufacturers to raise the safety standards in their vehicles. To improve vehicle safety, automakers are trying to implement digital rear view mirrors and a pillar mirror to reduce the blind spots for vehicles, which is expected to support the demand for TFT, LCD, and AMOLED displays in the automotive display units market
The growing sales of premium LCVs and HCVs in developed and developing economies are estimated to boost the growth of the automotive display units market. China is expected to be a prominent market in the global automotive display units market over the forecast period in term of volume, owing to the increasing demand for passenger cars from the middle-class population.
Moreover, government initiatives to promote the manufacturing sector in developing countries such as India are expected to further create opportunities in the automotive display units’ market. These factors are expected to directly impact the growth of the automotive display units market during the assessment period.
China and India to Create Significant Growth Opportunities
This global automotive display units’ market report observes that East Asia is estimated to hold a prominent share in the global automotive display units’ market during the assessment period. Due to increasing vehicle production and rising vehicle safety standards, the demand for automotive display units is increasing across the globe.
China is estimated to hold a significant share in the East Asia Automotive Display Units market and drive the growth of the region, while growing at a CAGR of nearly 10% in terms of value, between 2022 and 2029. This automotive display units’ market report studies the concerned markets across various regions, including North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa.
Some of the key players involved in the manufacturing of automotive display units, and included in this study are Robert Bosch GmbH, LG Displays, Panasonic Corporation, Denso Corporation, Magna International Inc., Valeo Sa, Delphi Automotive Plc, Continental Ag, Kyocera Corporation, Japan Display Inc., Au Optronics, and Pioneer Corporation, amongst others.
These insights are based on a report on Automotive Display Units Market by Future Market Insights