iCrowd Newswire – Jul 9, 2020
The Automotive Smart Display Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Automotive Smart Display Market highlights the future prediction and the growth alternatives that can be created.
As per the latest study by Market Research Future Reports (MRFR), the worldwide automotive smart display market is projected to value USD 10 billion, thriving at a CAGR of 13% during the forecast period. The surging demand for safety features is the most significant driver of the global automotive smart display market 2020. The increasing population and higher standards of life have contributed significantly to augmenting the market. In addition, the increasing demand for autonomous vehicles and in-cart infotainment systems is further propelling the global market. Furthermore, the worldwide growth of luxury and premium automobiles is a significant factor resulting in market expansion. However, the threat of cybersecurity, high consumption of power, expensive cost of the display, and lack of luminance is considered to the restraining factors. It is estimated to rein in the market expansion.
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Also, the outbreak of COVID-19 has resulted in the daily business operations to come at a standstill. Several markets have come to stagnancy due to the observation of lockdown in several countries
The forefront players of the global automotive smart display market are Denso Corporation (Japan), Visteon Corporation (US), LG Display (South Korea), Valeo SA (France), Magna International Inc. (Canada), Alpine Electronics Inc. (Japan), Delphi Automotive PLC (UK), Nippon Seiki Co. Ltd (Japan), Robert Bosch GmbH (Germany), Yazaki Corporation (Japan), AU Optronics Corporation (Taiwan), Panasonic Corporation (Japan), Gentex Corporation (US), Continental AG (Germany), Garmin Ltd. (US), and a few others.
The worldwide automotive smart display market can be segregated on the basis of product type, sales channel, propulsion, driving level, vehicle type, display size, and region.
Based on product type, the worldwide automotive smart display market can be classified into thin-film transistor liquid crystal display (TFT-LCD), liquid crystal display (LCD), and others.
Based on the sales channel, the worldwide automotive smart display market can be classified into OEM and aftermarket.
Based on propulsion, the worldwide automotive smart display market can be classified into ICE and electric vehicles.
Based on the driving level, the worldwide automotive smart display market can be classified into conventional and semi-autonomous.
Based on vehicle type, the worldwide automotive smart display market can be classified into a passenger car and commercial vehicle.
Based on display size, the worldwide automotive smart display market can be classified into up to 5”, 5”-10”, and above10”.
Based on the region, the worldwide automotive smart display market can be classified into North America, Asia-Pacific, Europe, and the rest of the world.
The geographical analysis of North America, Asia-Pacific, Europe, and the rest of the world has been performed. As per the analysis, the global market is dominated by the APAC region. The APAC region is estimated to record the highest growth. The second and third position is attained by Europe and North America, respectively. The growth in the APAC region can be accredited to the increasing demand for connected vehicles and the advancement of electric vehicle infrastructure across the region. The region consists of the emerging economies like India and China, which given an upper hand to the region. The European market is estimated to expand during the forecast period due to the increasing demand for safety and security and smooth driving experience. On the other hand, the expansion in North America can be accredited by the surging development of connected cars in the region.
However, the outbreak of pandemic coronavirus has affected several regional markets. The constant observation of lockdown in several regions has changed the market dynamics.
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Keywords: Automotive Smart Display Market, Automotive Smart Display Market Size, COVID-19 Impact