The Latest Automotive Display Industry Statistics Explained
By 2023, the automotive display system market is expected to hit USD 30.7 Billion.
The statistic that by 2023, the automotive display system market is expected to reach USD 30.7 billion indicates a significant anticipated growth in the market size of automotive display systems within the next few years. This projection suggests a robust demand for advanced technologies in the automotive industry, specifically in the development of display systems integrated into vehicles for various purposes such as navigation, entertainment, safety, and connectivity. The substantial market value reflects the increasing consumer preference for high-tech features in vehicles and the continuous innovation and advancement in automotive display technologies by industry players to meet these demands. Such growth forecasts can inform industry stakeholders, investors, and policymakers about the potential opportunities and trends shaping the automotive display system market in the near future.
The automotive smart display market is expected to reach a volume of 92.4 million units by 2026.
The statistic pertaining to the automotive smart display market projecting a volume of 92.4 million units by 2026 indicates a forecasted increase in the demand for smart display technology in vehicles over the coming years. This number serves as an estimation of the expected quantity of smart display units that will be utilized in automobiles by 2026, suggesting a growing trend towards integrating advanced display systems in vehicles. Such a projection suggests that automotive manufacturers are likely to continue investing in smart display technologies to enhance the driving experience, improve safety features, and cater to the increasing consumer demand for in-car technological advancements.
The market for automotive display is expected to register a CAGR of over 10% during the 2020-2025 period.
This statistic indicates that the market for automotive displays is forecasted to experience a Compound Annual Growth Rate (CAGR) surpassing 10% over the period from 2020 to 2025. A CAGR of 10% implies that the market is anticipated to grow steadily at an average annual rate of at least 10% during this timeframe. This projection suggests a robust and sustained growth trajectory for the automotive display market, driven by factors like technological advancements, increasing demand for smart features in vehicles, and a shift towards digital displays in automotive systems. Overall, this statistic reflects a positive outlook for the automotive display industry in the coming years.
In 2020, North America was the leading region in the automotive display market.
In 2020, North America emerged as the dominant region in the automotive display market, indicating that a significant portion of the market share, in terms of sales and revenue generated from automotive displays, was attributed to this region. This statistic underscores North America’s strong presence and influence in the automotive technology sector, likely driven by factors such as technological advancements, consumer demand for cutting-edge features in vehicles, and the presence of key players in the market. Being the leading region suggests that North America had a competitive edge over other regions in terms of innovation, market penetration, and overall performance within the automotive display market during the specified period.
The passenger vehicles segment accounted for more than 65% of the market share in the automotive display market in 2020.
The statistic indicates that in 2020, the passenger vehicles segment dominated the automotive display market by capturing over 65% of the total market share. This suggests that a significant majority of the displays used in automobiles were installed in passenger vehicles, rather than in other types such as commercial vehicles or heavy-duty trucks. The high market share of passenger vehicles in the automotive display market signifies their importance and popularity among consumers, likely driven by factors such as technological advancements, increasing consumer demand for advanced features, and the growing integration of displays in modern vehicles for entertainment, navigation, and safety purposes.
OLED is projected to witness the highest growth rate in the automotive display market during the forecast period.
This statistic indicates that Organic Light-Emitting Diode (OLED) technology is expected to experience the most significant increase in adoption within the automotive display market over the forecast period. OLED displays offer several advantages over traditional LCD displays, including better image quality, higher contrast ratios, faster response times, and energy efficiency. The projected high growth rate suggests that automotive manufacturers are increasingly recognizing the benefits of OLED technology in enhancing the overall display experience for drivers and passengers. This trend could be driven by advancements in OLED technology, alongside growing consumer demand for more sophisticated and visually appealing digital displays in vehicles.
In 2019, the smallest automotive HUD (head-up display) sector made up over 30% of the automotive display market.
The statistic suggests that in 2019, even the smallest sector within the automotive HUD (head-up display) market accounted for a significant portion of the overall automotive display market, comprising over 30%. This indicates that head-up display technology is increasingly prevalent and important within the automotive industry, with a substantial market share compared to other types of automotive displays. The fact that even the smallest sector within this specific market segment holds such a large percentage highlights the growing demand and adoption of head-up display technology among consumers and automakers alike.
LCD/TFT displays currently hold the largest share of the automotive display market.
The statistic ‘ LCD/TFT displays currently hold the largest share of the automotive display market’ indicates that Liquid Crystal Display (LCD) and Thin-Film Transistor (TFT) technology are the predominant types of displays used in automotive vehicles. This suggests that manufacturers are favoring these technologies over other types such as OLED or LED displays for applications like instrument clusters, infotainment systems, and heads-up displays. The popularity of LCD/TFT displays in the automotive industry may be attributed to their cost-effectiveness, reliability, and familiarity among consumers. This statistic reflects the current trend in automotive display technology and highlights the dominance of LCD/TFT displays in the market.
Automotive display screens market value is expected to reach around USD 23.02 billion by 2027.
The statistic highlights the projected growth in the market value of automotive display screens, with an estimated value of approximately USD 23.02 billion by the year 2027. This indicates a trend towards increased adoption and demand for display screens in the automotive industry, driven by factors such as technological advancements, changing consumer preferences, and a growing emphasis on connectivity and digital features in vehicles. The forecasted market value signifies significant opportunities for companies operating in the automotive display screen sector to capitalize on this trend and develop innovative products to cater to the evolving needs of consumers and manufacturers.
In 2019, Continental AG, Bosch and Volvo were among the top players in the global automotive display market.
The statement indicates that in 2019, Continental AG, Bosch, and Volvo were leading companies in the global automotive display market. This suggests that these companies had a significant market share and influence in the automotive display industry during that year. Such a statistic highlights the competitive landscape of the market and underscores the prominence of these companies in providing display technology and solutions to the automotive sector. Moreover, their presence as top players signifies their strong reputation, technological capabilities, and capacity to meet the needs and preferences of customers in the evolving automotive display market.
Europe automotive HUD market will expand with over 24% CAGR from 2020 to 2026.
This statistic indicates that the European automotive Head-Up Display (HUD) market is projected to experience significant growth with a Compound Annual Growth Rate (CAGR) of over 24% between 2020 and 2026. This suggests a substantial increase in the demand for automotive HUD technology in Europe over the specified period. Factors driving this growth could include advancements in technology, increasing awareness of the benefits of HUD systems in vehicles, and the growing trend towards enhancing driver safety and convenience. The projected CAGR highlights a strong potential for market expansion and opportunities for companies operating in the European automotive HUD sector to capitalize on this growth trend.
Automotive head-up displays market size growth is projected to increase with a CAGR of approximately 22% between 2020 to 2026.
This statistic indicates that the market size of automotive head-up displays, a technology that projects information onto the windshield of a vehicle for the driver to see without changing focus, is expected to experience rapid growth between 2020 and 2026. The Compound Annual Growth Rate (CAGR) of approximately 22% suggests that the market is predicted to expand by this rate each year during the specified period. This projected growth rate signifies strong market demand and adoption of head-up displays in the automotive industry, likely driven by advancements in technology, increasing focus on vehicle safety and convenience features, and consumer preference for innovative and interconnected driving experiences.
The adoption of autonomous vehicles is expected to act as a major opportunity for the automotive display industry.
This statistic suggests that the shift towards autonomous vehicles presents a significant growth opportunity for the automotive display industry. As more vehicles incorporate autonomous technology, there will be a greater need for advanced display systems to provide information and interact with passengers. These displays will play a crucial role in delivering essential data related to the vehicle’s operations, navigation, entertainment, and communication features in a convenient and user-friendly manner. Therefore, the expected increase in the adoption of autonomous vehicles is likely to drive the demand for innovative automotive display technologies, creating a lucrative market for the industry to capitalize on.
The TFT LCD display technology segment accounted for over 56% share in 2019, within the automotive head-up display market.
In 2019, the TFT LCD display technology segment held a dominant position within the automotive head-up display market by capturing more than 56% of the market share. This statistic indicates that TFT LCD technology was the most popular choice among manufacturers and consumers for automotive head-up displays during that year. TFT LCD displays are known for their vibrant colors, high resolution, and fast response times, making them a preferred option for delivering clear and concise information to drivers in the form of head-up displays. The significant market share of TFT LCD technology underscores its widespread adoption and effectiveness in enhancing the driving experience and safety features in vehicles.
Vehicle production in the Asia Pacific was around 52 million units in 2019, thus offering significant potential for the automotive display market.
The statistic stating that vehicle production in the Asia Pacific was around 52 million units in 2019 indicates a robust and substantial market for the automotive industry in the region. The sheer volume of vehicles being produced presents a significant opportunity for the automotive display market to thrive and expand. With such a large number of vehicles being manufactured, there is a growing need for advanced display technologies in vehicles to meet consumer demands for innovative features, enhanced safety systems, and improved overall driving experiences. This data highlights the vast potential for growth and market penetration in the automotive display sector within the Asia Pacific region, making it an attractive market for industry players looking to capitalize on this burgeoning market.
The global market for automotive display touch modules is expected to reach USD 4.4 billion by 2024.
This statistic indicates the projected value of the global market for automotive display touch modules by the year 2024, estimated to reach USD 4.4 billion. This forecast reflects the anticipated growth and demand for touch screen technology specifically designed for automotive applications, including infotainment systems, dashboards, and other in-vehicle displays. Factors contributing to this expected market expansion may include advancements in automotive technology, consumer preference for interactive displays, and regulatory trends promoting vehicle connectivity and safety features. As such, this statistic serves as a valuable insight for industry stakeholders, investors, and market analysts to understand the potential opportunities and trends shaping the automotive touch display market in the coming years.
China and India are expected to emerge as lucrative countries in the APAC region for automotive displays, owing to increasing vehicle production and sales.
This statistic suggests that China and India are projected to become key markets in the Asia-Pacific (APAC) region for automotive displays due to the significant growth in vehicle manufacturing and sales within these countries. The increasing production and sales of vehicles indicate a growing demand for automotive displays, which are essential components in modern vehicles for providing information and enhancing user experience. As China and India continue to witness a rise in their automotive industries, they are expected to offer lucrative opportunities for companies involved in manufacturing and supplying automotive displays. This development reflects the overall expansion and potential profitability of the automotive display market in these two emerging economies within the APAC region.
Conclusion
With the increasing demand for advanced features and technology in vehicles, the automotive display industry is experiencing significant growth. The statistics highlight the expanding market opportunities and the importance of incorporating innovative display systems in modern vehicles to enhance the driving experience and safety for consumers. As the industry continues to evolve, manufacturers and stakeholders must stay informed and proactive to capitalize on the growing trends and meet the changing needs of the automotive market.
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