Automotive display system is transparent display used in automobiles that presents data to indicate any obstacles on road in order to enable a smooth and safe driving experience. Various types of automotive display systems include center stack display, camera information display, DID-NR, reconfigurable instrument cluster, rear seat entertainment, and head-up display. Technological advancement with increasing use of smart devices are major factors expected to drive the global market in the future.Global Automotive Display Systems Market Dynamics:
Rising demand for connected vehicles is the major factor driving growth of the global automotive display systems market. Additionally, increasing demand for larger displays is expected to drive growth of the market. In addition, decreasing prices of LCD and OLCDs, technological advancements and innovations in automotive industries, and increasing adoption of smart devices is driving growth of the global automotive display systems market. Customers currently purchase products that not only offer more functionality, but also focus on aesthetic appeal that best suits their individual tastes.
However, rising adoption of personal mobile devices, high cost of automotive display systems, and concerns regarding systems failure are some major factors restraining growth of the global automotive display systems market.
A major and growing trend, especially in developed countries, is increasing development of next-generation micro-display technology and rising adoption of AMOLED technologies.
The Americas market is expected to grow at a steady growth rate, while demand for automotive display systems in Europe region is foreseen to expand at moderate pace in near future. The market in developing countries in Africa and Asia Pacific is witnessing rapid growth for automotive display systems market. The growth in Asia Pacific region is driven by increasing demand for automotive display systems in countries such as India and China.
In 2016, Asia Pacific market accounted for the second largest revenue share contribution to the global automotive display systems market and expected to register highest CAGR over the forecast period. Increasing government initiatives towards road safety, and rising demand for passenger automobiles with advanced features such as display system are projected to drive the demand for automotive display systems products in next ten years in Asia Pacific region. Presence of prominent automotive display systems manufacturing companies such as Alpine Electronics, Inc., DENSO CORPORATION, FUJITSU, KYOCERA Display Corporation, Panasonic Corporation, and others is another factor expected to aid in growth of the Asia Pacific automotive display systems market over the forecast period.