The global automotive smart display market is projected to witness a CAGR of 8.48% during the forecast period 2024–2031, growing from USD 11.1 billion in 2023 to USD 21.29 billion in 2031. Higher penetration of digitalization, the internet in vehicles, and advanced navigation in smart vehicles are transforming the overall automotive sector. The multi-display setup in vehicles is increasing the demand for smart displays in cars. Integrated technologies such as connected car systems, artificial intelligence, and multiple sensor and camera systems are adding value to the global automotive smart display market. The upcoming range of vehicles with multi-functional displays comprising entertainment, music player, vehicle data, and safety monitoring. Furthermore, the utilization of smart displays through advanced blind spots, back cameras, and head-up displays also fuels the demand for the same. The rising competition among competitors is pushing automakers to introduce smart displays in mid and lower-pricing segments of vehicles, transforming the overall market dynamics.
The basic LCD interface has transformed into a multifunctional control point that offers lightweight, flexible computing (local and tethered) with increased security and more intuitive and efficient ways to interact with a wider range of devices. This evolution is made possible by new technological innovations in fields such as artificial intelligence, wireless connectivity, touch, video processing, and display drivers. New vehicle diagnostics solutions also demand smart displays to gather information and show possible results. The future holds higher opportunities for the market as key players introduce innovative projects.
For instance, in January 2024, Continental unveiled the first transparent automotive display using Swarovski crystal technology at the Consumer Electronic Show (CES) 2024. The company collaborates with Swarovski Mobility to design a 10-inch see-through car display with a frameless and semi-transparent appearance. It looks transparent due to MicroLED technology, which enhances the screen’s contrast and brightness for clear, comfortable viewing.
Integrated Smartphone Connectivity and Adoption of OLED to Fuel Market Expansion
The quicker operating systems such as Apple CarPlay and Android Auto are advancing the overall vehicle interior. The integration of smartphones with vehicles, allowing vehicle transmission to give smartphone control is also being highly adopted by the end users. Hence, the automakers are collaborating with equipment producers, and software and hardware solution vendors to add ease in user experience. For instance, in September 2023, LG Display Co. delivered an organic light-emitting diode (OLED) display to Merecedes-Benz Group AG’s new E-class model. The display also comprises the industry’s first switchable privacy mode.
Apart from the software and hardware supply, smartphone connectivity plays a crucial role in the market expansion. Voice recognition and gesture recognition services integrated with the smart display deliver ease and enable drivers to focus on the road. The trends in automotive smart displays are driven by the increasing demand for advanced options like multimedia systems, connected vehicle functions, driver assistance, navigation, and enhanced communication between the driver and the vehicle.
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Vehicles with ADAS, EV Boost, and Integrated Technologies to Thrive Market Growth
The growing number of cars with advanced infotainment systems and advanced driving assistance systems (ADAS) installed. The display registers voice commands, displays sensory alerts, and reflects lane assistance operation. Moreover, there is a greater need for multi-screen smart cockpits due to the growing popularity of electric vehicles. Multiple screens with distinct functions are being incorporated into mid- and high-range electric vehicles. Some of the features of data-based solutions, such as cloud computing, navigation, and real-time monitoring, are also displayed on smart automotive displays. The market is expected to grow as a result of an increase in sales of cars equipped with high-end features such as camera setups, artificial intelligence, and connected car technology. Modern infotainment systems, head-up displays, telematics, central controllers, gesture control systems, and steering-mounted controls are just a few of the technologies that are being utilized in passenger cars for reasons of luxury, safety, comfort, and security.
For instance, in July 2023, MINI introduced the latest operating system for its upcoming generation models considering new requirements. The company also launched its next-generation Mini models with a round OLED screen and animated assistant. In partnership with Samsung, BHTC created a ground-breaking circular OLED central display that skillfully blends old and new technologies. These displays are powered by the same operating system.
Government Compliance Policies to Fuel Market Growth
Government around the world focuses on enhancing vehicle quality in terms of security and safety. The addition of a smart display adds value to vehicle security and hence government authorities support automakers and equipment manufacturers through production-linked schemes. The emerging economies also expand focus on moto industrialists and help them production lines. This involves programs such as Invest India and Make in India, promoting new and innovative automotive systems. Furthermore, the governments also invest to promote EV adoption, fuelling the overall automotive smart display market.
For instance, in July 2023, 9,500 electric cars were intended to be purchased by United States government agencies during the 2023 fiscal year which is three times as many as those obtained in the previous fiscal year. The Government Accountability Office states that 26 departments that have authorized EV acquisition plans estimated that they would require over USD 470 million to purchase vehicles and about USD 300 million to build and construct the required infrastructure, in addition to additional expenses.
Higher Adoption, Better Compatibility, and Compact Size to Fuel Segmental Growth
Based on display size, the sector with display sizes less than 5″ held the highest revenue share. The increasing need for services such as navigation, multimedia support, driving assistance, and driver-to-vehicle communication is predicted to promote the uptake of less than 5″ smart screens. In addition, there is an increasing demand for displays that are more information-rich while occupying less space in cars as they get smaller and more sophisticated. This issue can be effectively resolved with smaller smart screens because they can still offer a variety of features and information in confined locations. Furthermore, the > 10″ display segment is accelerating in the market with advanced instrument clusters and central navigation systems. The EV boost has also given birth to multi-screen infotainment systems, accelerating the segment’s growth.
For instance, in August 2023, Hyundai Motor Company unveiled the all-new Santa FE SUV. The first-in-class 12.3-inch Panoramic Curved Display for SANTA FE, which includes an infotainment system and digital cluster to improve driver sight and add a luxurious touch, is allegedly included with the redesigned interiors.
Asia-Pacific Region Leads in the Global Automotive Smart Display Market
The increased sales of personal vehicles with the increasing per capita income and new automotive brands entering the market are anticipated to fuel the market growth. The new manufacturing units with innovative aftermarket products along with the automakers focusing on research and development are garnering the market growth. Foreign investment in potential markets such as India and China is also transforming the regional dynamics. New local players along with the EV boom are projected to add value to the market. The technologically advanced giants in the region are also collaborating with other automotive companies to advance smart displays.
For instance, in April 2023, Samsung Display signed a memorandum of understanding (MOU) with Ferrari at Samsung Display’s Asan campus in Korea to develop a display solution for implementation in Ferrari’s next-generation models. Through this MOU, Samsung Display will help Ferrari’s seamless digital transition by creating an innovative vehicle display solution that is suited for a luxury supercar brand and uses cutting-edge OLED technology.
Future Market Scenario (2024–2031F)
- The increased sales of electric vehicles along with the new screen technology is expected to flourish the market growth.
- Rising sales of passenger vehicles in emerging economies are anticipated to garner market expansion.
- Increased internet penetration in automobiles, new operating systems, and automotive research and development are likely to propel market growth.
The Evolution of Automotive Smart Displays: Gone are the days of traditional analog gauges and basic infotainment systems. Today’s automotive landscape is characterized by an increasing integration of digital displays, touchscreens, and augmented reality interfaces. This evolution has been driven by a confluence of factors, including advancements in display technology, the proliferation of connected vehicles, and shifting consumer expectations for seamless digital experiences on the road.
Key Trends Shaping the Market:
- Rise of Connected Cars: The advent of connected car technology has fueled the demand for smart displays that can seamlessly integrate with other onboard systems and external data sources. From real-time navigation updates to remote vehicle diagnostics, connected smart displays offer drivers unprecedented access to information and services, enhancing convenience, safety, and connectivity on the road.
- Increasing Demand for In-Vehicle Entertainment: With consumers spending more time in their vehicles, there is a growing demand for sophisticated in-vehicle entertainment systems. Automotive smart displays serve as multimedia hubs, providing access to streaming services, gaming applications, and personalized content, transforming the vehicle interior into a mobile entertainment center.
- Advancements in Augmented Reality (AR) Displays: Augmented reality displays represent the next frontier in automotive smart display technology, overlaying digital information onto the real-world environment to enhance situational awareness and driving safety. From heads-up displays (HUDs) that project navigation cues onto the windshield to AR-enabled instrument clusters that highlight potential hazards, AR displays are redefining how drivers perceive and interact with their surroundings.
Challenges and Opportunities:
- User Interface Design and Ergonomics: Designing intuitive and user-friendly interfaces for automotive smart displays remains a significant challenge for manufacturers. Balancing functionality with simplicity, while minimizing driver distraction, requires careful attention to user interface design principles and ergonomic considerations.
- Cybersecurity Concerns: As vehicles become increasingly connected and reliant on software-driven systems, cybersecurity emerges as a critical concern for automotive smart displays. Protecting sensitive vehicle data and preventing unauthorized access to onboard systems require robust cybersecurity measures and continuous vigilance against evolving cyber threats.
- Regulatory Compliance: Regulatory standards and safety guidelines play a crucial role in shaping the development and deployment of automotive smart display technology. Ensuring compliance with existing regulations, such as distraction guidelines for in-vehicle displays, while anticipating future regulatory requirements, requires proactive engagement with regulatory authorities and industry stakeholders.
Future Outlook: The automotive smart display market is poised for continued growth and innovation as automakers, technology providers, and consumers embrace the potential of connected, digital-driven vehicles. From advancements in display resolution and clarity to the integration of artificial intelligence and machine learning capabilities, the future of automotive smart displays holds promise for enhancing the driving experience and shaping the future of mobility.
Conclusion: As automotive technology continues to advance at a rapid pace, smart displays are playing an increasingly integral role in shaping the future of mobility. By harnessing the power of connected, digital-driven vehicles, automotive smart displays have the potential to redefine the driving experience, offering drivers unprecedented access to information, entertainment, and safety features on the road ahead.
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