The market is poised to register a CAGR of 7.89% during the forecast period (2020-2025).
- With overall automotive navigation and connectivity characterizing the cars of this generation, automotive visualization technologies are becoming the most vital components of in-vehicle interactions. As a result, the incorporation of interactive displays has become a key feature of the vehicle manufacturing processes among a few prominent automakers like General Motors and Tesla.
- The growing trend of connectivity in vehicles, augmented reality, with the increased integration of smartphones and tablets with in-vehicle entertainment and information systems, propel the demand for advanced display systems.
- Vehicle interiors are revolutionizing by providing the futuristic digital user experience in front of drivers. The number of displays in vehicles has been continuously increasing, as OEMs are always trying to stay ahead from their competitors to make their cars more attractive with advanced instrument clusters. For instance, in March 2020, Continental AG showcased its autostereoscopic 3D technology, which displays three-dimensional scales, pointers, and objects.
- The United States witnessed a jump in sales of plug-in vehicles by 79% in 2018 from 200 thousand units in 2017 to 358 thousand in 2018. Although, 2019 sales decline to 337 thousand units due to supply-related issues from GM and Toyota. Also, the charging infrastructure development for electric vehicles is increasing in the country, owing to the rising vehicle sales and technological advancements in wireless (induction) technology space. All these factors are likely to drive the automotive display market in the region
Key Market Trends
Increasing Electric vehicles Propelling the Market Growth
The annual global electric vehicle production surpassed 2 million in 2018, and the United States is the second-biggest electric vehicle market after China. Currently, Tesla Inc. is the largest selling model in the United States, facing fierce competition from other local as well as global manufacturers. As many new electric vehicles are being supplied up by major manufacturers, the display system manufacturers are gearing up to catch the fastest growing market by developing new display systems for future vehicles.
Cadillac unveiled its luxury SUV 2021 Escalade, which includes a curved Organic Light Emitting Diode screen. The display system consists of three screens, including an OLED is paper-thin, and its curvature positions the display screen for optimal visibility.
In 2019, BMW showcased iNext electric crossover curved display, in which information and control display are merged to create a single unit that is curved towards the driver. The curved screen is placed in such a way that occupants cannot see its connection to the instrument panel.
Similarly, Byton M-Byte, an all-electric and autonomous SUV, comes with a 48-inch dash display. The display is controlled through AI voice tech, which also offers gesture control, facial recognition.
Head-up Display to Witness Higher Growth in the Market
The North America market is the most technology-sensitive market, and HUD systems are expected to witness rapid demand in the region. The higher growth rates for HUDs in North America are likely to be driven by the increasing sales of SUVs and luxury cars.
Over the past three years, passenger cars with HUD displays were unveiled at various exhibitions, but its penetration rate is low as compared to other display systems in consumer models. Many vehicles and display system manufacturers have been developing new HUD display systems equipped with more safety information features.
For instance, Volkswagen's first electric car ID.3, comes with an optional head-up display. In 2019, the company revealed various new features of the car, which is projected to hit the market by 2020.
Similarly, DENSO has developed a head-up display to project critical driving information such as speed limits, vehicle driving speed, and also locations of pedestrians. The human-machine interface is one of the largest automotive head-up displays with a nearly 24-inch projection.
The North America automotive display market is moderately fragmented due to the presence of many local and global players, such as LG Electronics, Visteon Corporation, and Robert Bosch GmbH. The market is transforming with the evolution of technologies. However, conventional technology will continue to hold a significant share as new technologies are right now in the concept phase in the next two-three years. Although, display manufacturing companies are expanding their market presence and increasing their R&D projects to provide the best display experience to the car owner. For instance,
- In 2019, Continental developed the ultra-compact head-up display, which is particularly suitable for cars with limited installation space, such as sports cars.
- In 2018, Visteon Corporation inaugurated its technology center in Germany. This new facility will improve the company’s portfolio of vehicle cockpit electronics, information display, driver assistance, cockpit domain controller, and autonomous driving technologies.
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1.2 Scope of the Study
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 By Technology Type
5.3 By Product Type
5.3.1 Center Stack Display
5.3.2 Instrument Cluster Display
5.3.3 Heads-up Display
5.3.4 Other Product Types
5.4 By Sales Type
5.5 By Country
5.5.1 United States
5.5.3 Rest of North America
6.2 Company Profiles
6.2.1 Robert Bosch GmbH
6.2.2 Continental AG
6.2.3 Visteon Corporation
6.2.4 Hyundai Mobis
6.2.5 LG Electronics
6.2.6 DENSO Corporation
6.2.7 Magneti Marelli SpA
6.2.8 MTA S.p.A.
6.2.9 Delphi Technologies
6.2.10 Hitachi Automotive Systems
A selection of companies mentioned in this report includes:
- Robert Bosch GmbH
- Continental AG
- Visteon Corporation
- Hyundai Mobis
- LG Electronics
- DENSO Corporation
- Magneti Marelli SpA
- MTA S.p.A.
- Delphi Technologies
- Hitachi Automotive Systems