The global automotive smart display market is prognosticated to gain from the rising trend to equip automobiles with hi-tech devices for navigation and entertainment. A new market study by Transparency Market Research (TMR) analyzes crucial indicators and growth trends that could boost the growth of the said market. The report is titled “Automotive Smart Display Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
The increasing disposable incomes and globalization are key factors behind the growth of automotive smart display market. Consumers are spending substantially to equip their vehicles with technologically advanced products for an enhanced riding experience. Automotive smart display comprise indicators and other buttons in the instrument panel, which can be provided for rear seat passengers as well.
At present, automobile manufacturers are focusing to equip automobiles with slim looking interiors, display, and dashboards, which add safety and aesthetics. Automotive smart display is one such innovation, which currently witnesses substantial demand from customers. Due to its super features, automotive smart display is likely to replace traditional automobile displays in the future.
The rising demand for autonomous and semi-autonomous vehicles is propelling the market for automotive smart display. Besides this, the demand to add safety and comfort features to automobiles is anticipated to fuel the automotive smart display market. Several governments have mandated passenger vehicles to be equipped with adequate safety system and commercial vehicles to be equipped with in-vehicle GPS to locate vehicles in the event of an emergency.
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One of the key factors challenging the automotive smart display market is the high cost factor of automotive smart displays. Despite average increase in disposable incomes, automotive smart display remains a luxury which is not affordable by most. Being a new technology, installation and maintenance cost of automotive smart display in a vehicle is high.
Some of the key players in the automotive smart display market are Nippon Seiki Co. Ltd., AU Optronics Corp. Yazaki Corporation, Continental AG, Panasonic Corporation, LG Display Inc., Japan Display Inc., Visteon Corporation, Denso Corporation, and Robert Bosch GmbH.