The report presents a comprehensive research of the global automotive display system market by end-user that includes OEMs and aftermarket. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: expansion of the global electronics industry
The global automotive electronics industry is witnessing rapid growth due to the increased use of advanced and lightweight materials, miniaturization, and the advent of intelligent technologies. Integration of ADAS, connected vehicle technologies, and energy-efficient technologies in automobiles are further driving the growth of automotive electronics. This leads to a corresponding growth in the global automotive display system market. Advancements in automotive electronics enhance the efficiency and demand for automotive display systems as well.
According to a senior analyst at Technavio for automotive electronics research, “North America, Europe, and Japan are considered the major market regions in the global automotive electronics market. These geographies are characterized by stringent fuel-safety norms. The on-going developments in the consumer electronics space have increased the demand for advanced entertainment systems, connectivity solutions, and automotive display solutions. Electrification of vehicle systems and components facilitates the use of advanced materials for automotive displays. These factors positively impact the demand for automotive display systems.”
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Market trend: development of camera-based rearview mirrors
The development of autonomous vehicles has resulted in the development of camera-based rearview mirrors. In the last few years, the developments in the field of camera-based rearview mirrors have considerably increased. The camera-based outside rear view mirror technology is gaining popularity among automakers because it aids in weight reduction and lowering the drag coefficient. The technology also assists in improving the design aspects of the vehicle. This leads to increased fuel efficiency. The technology has been commercially adopted in some of the advanced developed automotive economies.
Market challenge: high R&D and developmental costs
The rising advancements in display solutions and connectivity solutions indicate a corresponding increase in the cost of development of display systems. The development of advanced display solutions for automotive applications leads to increased R&D investments, product development costs, and testing costs. Advancements in automotive display systems add to the intricacies associated with the development of such systems.
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