The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Automotive Smart Display Global Market Report 2024, the automotive smart display market is expected to show significant growth in the forecast period.

The automotive smart display market has experienced rapid growth in recent years, driven by various factors. Let’s delve into the market’s expansion, key drivers, and future projections:

• Historic Growth: The market surged from $9.84 billion in 2023 to $10.85 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 10.2%.
• Historic Drivers: Increased consumer demand for advanced infotainment systems, growth in the automotive industry with a focus on in-car connectivity, adoption of advanced driver assistance systems (ADAS), and stringent safety regulations drove historic market growth.

Anticipated Growth and Market Dynamics

The automotive smart display market is poised for rapid expansion, projected to reach $15.98 billion by 2028:

• Future Drivers: Rapid adoption of OLED panels, rising production of passenger cars and commercial vehicles, growth of the high-end and luxury car segments, expansion of the connected car ecosystem, and surge in demand for electric and autonomous vehicles fuel market growth.
• Major Trends: Development of larger and more immersive display screens, integration of voice recognition and gesture control for hands-free operation, customization of display interfaces for a personalized driving experience, collaboration between automakers and tech companies, and advancements in automotive electronic modules and electronic control units shape market dynamics.

Rising Demand For Autonomous Vehicles Fuels Market Growth

The increasing demand for semi-autonomous and autonomous vehicles serves as a significant catalyst for the automotive smart display market:

• Vehicle Autonomy: Semi-autonomous and autonomous vehicles rely on smart displays to detect and visualize surroundings, enhancing safety and convenience.
• Market Impact: Investments in autonomous vehicle technology by companies like Waymo and Tesla underscore the growing demand for smart displays in next-generation vehicles.

Technological Advancements Drive Market Trends

Technological advancements have emerged as a key trend in the automotive smart display market, shaping product development and innovation:

• Advanced Technology Integration: Companies focus on integrating technologies like 5G and wireless connectivity to meet consumer demands for seamless in-car experiences.
• Example Collaboration: LG Electronics collaborated with Qualcomm Technologies to develop a 5G in-vehicle platform, enhancing sensor utilization and enabling vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication.

Strategic Acquisition Propels Market Advancement

Strategic acquisitions, such as Hyundai Mobis’ acquisition of Hyundai Autron, drive market advancement and enhance semiconductor capabilities:

• Acquisition Rationale: Hyundai Mobis aims to bolster semiconductor design, development, and verification capabilities for future automotive technology integration.
• Hyundai Autron Expertise: Hyundai Autron’s expertise in smart display manufacturing aligns with Hyundai Mobis’ objectives in the automotive semiconductor market.

Market Segmentation and Regional Dynamics

Understanding market segmentation and regional trends provides insights into the automotive smart display market:

• Vehicle Type: Segmentation by passenger car, light commercial vehicle, and heavy commercial vehicle caters to diverse automotive needs.
• Display Technology: LCD, TFT-LCD, and OLED technologies offer various display options for automotive applications.
• Autonomous Driving: Segmenting by semi-autonomous and autonomous driving categories reflects the evolving landscape of vehicle autonomy.
• Application: Digital instrument clusters, center stacks, head-up displays (HUD), rear seat entertainment, and other applications showcase the versatility of smart display technology.
• Regional Influence: Asia-Pacific leads the market and is expected to maintain its position as the largest region, driven by robust automotive industry growth.

View More On The Automotive Smart Display Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automotive-smart-display-global-market-report

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The Automotive Smart Display Global Market Report 2024  provides an in-depth analysis on the automotive smart display market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automotive smart display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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