New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Display System Global Market Report 2023" - https://www.reportlinker.com/p06463990/?utm_source=GNW
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.
The global automotive display system market 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive display system market is expected to reach $37.09 billion in 2027 at a CAGR of 14.8%.
The automotive display system market consists of sales of heads-up display, integrated head-unit, and operating system.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The automotive display system market refers to a digital screen that is built into automobiles to provide the driver and passengers with important information and other infotainment-related information. It displays information in the driver’s line of sight, reducing possible distractions and avoiding accidents.
North America was the largest region in the automotive market in 2022. The regions covered in automotive display system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of automotive display system products are center stack display, camera information display, reconfigurable instrument cluster, driver information display, rear seat entertainment, and head-up display, in which LCD and OLED technologies are primarily involved.Center stack display refers to a type of display that applies to the center of the front of the engine’s interior control-bearing surfaces.
Various types of screen size are available, such as 5" inches, > 5"–10" inches, and >10" inches, which are used in several vehicle types, including mid-sized cars, luxury cars, SUVs (sports utility vehicles) and crossovers, light commercial vehicles, and others.
Growth in vehicle production is expected to propel the growth of the automotive display system market going forward.Production of vehicles refers to the process of manufacturing cars or other vehicles that are identical models that have been built in large quantities.
Automotive display system refers to the set up of display that presents information related automobile in order to communicate vital information to the driver.Due to such benefit, there is a increase in demand for automotive display system to enhance the safety of vehicle.
For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the growth in vehicle production is driving the growth of the automotive display system market.
Technological advancements are a key trend gaining popularity in the automotive display system market.Major companies operating in the automotive display system market are focused on introducing technological advancements to sustain their position in the market.
For instance, in June 2021, Visteon Corporation, a US-based automotive electronics company, launched microZone, an innovative OLED alternative and the first display technology to provide superior optical performance without compromising dependability or longevity.MicroZone technology is the first of its kind in the automotive sector and a cutting-edge alternative to organic light-emitting diodes (OLEDs).
Visteon developed MicroZone in response to a market demand for a premium experience-delivery display that meets demanding automotive-specific specifications. MicroZone is recognised as the first car display to achieve remarkable optical performance without compromising vehicle durability, based on existing LCD technology and having satisfied high automotive qualification standards.
In July 2022, Instrument Systems, a Germany-based producer of entertainment electronics, acquired Kimsoptec for an undisclosed amount.This acquisition would expand Instrument Systems’ business by offering measuring solutions for the Asian ICT (information and communications technology, or technologies) and automotive markets in the fields of display, IR radiation sources, and AR or VR.
Kimsoptec is a South Korea-based company that offers display test systems and engineering capabilities for automotive interior and exterior lighting.
The countries covered in the automotive display system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive display system market research report is one of a series of new reports that provides automotive display system market statistics, including automotive display system industry global market size, regional shares, competitors with a automotive display system market share, detailed automotive display system market segments, market trends and opportunities, and any further data you may need to thrive in the automotive display system industry. This automotive display system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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