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The automotive display system market share is expected to increase by 205.09 million units from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 9.77%.
This automotive display system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive display system market segmentations by end-user (OEM and aftermarket), type (instrument cluster display, center stack display, HUD, and rear-seat entertainment display), and geography (APAC, Europe, North America, South America, and MEA). The automotive display system market report also offers information on several market vendors, including Aptiv Plc, Continental AG, DENSO Corp., Garmin Ltd., LG Electronics Inc., Nippon Seiki Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Sony Corp., and Valeo SA among others.
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The growing uptake of automotive electronics is notably driving the automotive display system market growth, although factors such as sharp decline in automobile production and sales may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive display system market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Display System Market Driver
The growing penetration of automotive electronics is one of the major factors that are driving the growth of the automotive display system market in focus as the display systems used in automobiles use advanced electronics and software, which serve as the basis in the design and development of automotive display systems. With the advent of technological innovations in automobiles, the uptake of electronic components and sub-systems has increased in vehicles (especially passenger vehicles). In 2018, the penetration of automotive electronics was about three-fifths in an average automobile, which was about two-thirds during 2013-2014. In terms of value, automotive electronics contribute about 60% of the total vehicle value currently. The high adoption of automotive electronics is also driven by stringent regulatory norms and mandates, the growing focus on fuel efficiency, the demand for advanced safety, the growing need for connectivity systems, the increasing adoption of hybrid powertrains, and the electrification of components. The adoption of advanced automotive systems and technological innovations has become a standard globally, driven by OEMs, vendors, and suppliers.
Key Automotive Display System Market Trend
Advances in automotive display systems is the major trend influencing automotive display system market growth. This trend is expected to drive the market during the forecast period as a larger display system results in a high selling cost. Most of the vehicles in the early 2000s used to feature an analog instrument cluster and a binary display for the center music system. However, the developments in display technology, the penetration of automotive electronics, and the growing competition in the global automotive market have resulted in the high uptake of digital displays in instrument clusters and modern-day infotainment systems. In-vehicle display systems are slowly becoming full touchscreen systems. In addition, the size of display systems has increased over the years, especially in the last five years, as a few automakers are clubbing the HVAC system display and infotainment display system into one unit. The display size is playing an important role as a product differentiator as well, where OEMs are offering facelifts of vehicles with large infotainment screens.
Key Automotive Display System Market Challenge
Sharp decline in automobile production and sales is one of the key challenges hindering the automotive display system market growth. Since 2018, the global automotive market is registering a slump in terms of sales and production, which is leading to a decline in the demand for several automotive components. The sales of light vehicles in the US dropped by about 3.1% during January-March 2019 compared with the same period in the previous year. Automotive production in Germany, UK, and China, among other countries, has been declining since 2017. Automotive production in other major automotive manufacturing countries, such as India, Japan, and the US, registered growth during 2017-2018. However, a slowdown in the growth rate of the sales of vehicles in 2019 is increasing the inventory cost for OEMs and compelling them to reduce or temporarily stop production. This compelled automotive OEMs to temporarily stop production. Such factors that adversely affect automotive sales and production are reducing the demand for automotive components and parts, such as display systems, in the global automotive market and are hampering the growth of the global automotive display system market.
This automotive display system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive display system market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive display system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive display system market encompasses successful business strategies deployed by the key vendors. The automotive display system market is fragmented and the vendors are deploying organic and inorganic growth strategies such as to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive display system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automotive display system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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43% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for automotive display system market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
High demand for automobiles in countries such as China, Japan, South Korea, India, and Thailand will facilitate the automotive display system market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
However, the outbreak of COVID-19 in 2020 led to a temporary halt in the production and sales of automobiles and related components and accessories. This negatively impacted the export of automotive components from key APAC countries, such as China, India, and Taiwan in 2020. Therefore, the automotive display system market witnessed a slow growth in APAC in 2020. In addition, the second wave of the pandemic in the majority of the countries in APAC has obstructed auto sales and reduced the demand for automotive display systems in Q1 of 2021. However, the reopening of international boundaries for trade is likely to enhance the demand for automotive display systems in APAC during the forecast period.
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The automotive display system market share growth by the OEM will be significant during the forecast period. The high market share of this segment is attributed to the high penetration of OE-fitted display systems in automobiles. In addition, the growing use of HD displays in center consoles of vehicles and the increasing use of digital instrument clusters in vehicles are contributing to the revenue generation of this segment.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive display system market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Display System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.77% |
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Market growth 2021-2025 |
205.09 mn units |
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Market structure |
Fragmented |
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YoY growth (%) |
5.64 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 43% |
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Key consumer countries |
US, China, Germany, Japan, and South Korea (Republic of Korea) |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Aptiv Plc, Continental AG, DENSO Corp., Garmin Ltd., LG Electronics Inc., Nippon Seiki Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Sony Corp., and Valeo SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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