Automotive display market worth $9.8 billion by 2022, study says

July 19, 2017 //By Christoph Hammerschmidt
Automotive display market worth $9.8 billion by 2022, study says
GPS, center stacks, main display – an increasing number of displays are installed in cars. Reseach company MarketsandMarkets has scrutinized the status and future prospects of this market segment. Result: Extraordinary growth perspectives ahead, with an average annual growth of 12,8 percent through 2022. By that date, the market is expected to reach a volume of $9,8 billion.

Market drivers are factors such as progress in developing semi-autonomous and autonomous vehicles, increasing adoption of automotive display applications by OEMs, and increasing demand for safety and comfort features from consumers.

With advancement of technology, the automotive display applications have witnessed rapid evolution during the last decade. Growing in-vehicle safety and comfort functions have contributed to the growth of automotive display applications that are now offered by OEMs. In some countries, government regulations such as mandatory in-vehicle GPS systems for commercial vehicles and mandatory rear view sensors and back up cameras in passenger cars are expected to increase the market for advanced center stack touchscreen displays in vehicles, the experts from MarketsandMarkets write.

In case of commercial vehicles, display applications are used for navigation purpose and telematics. The market for center stack touchscreen displays will continue to grow at a steady pace, given their increasing use in premium light duty vehicles and heavy duty vehicles. The market would also be driven by the increase in consumer demand for center stack touchscreen displays in economic passenger cars in cost sensitive automotive markets of China, Brazil and India.

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