AUTOMOTIVE SMART DISPLAY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Size and Trends

The Automotive Smart Display Market is estimated to be valued at US$ 12.83 billion in 2024 and is expected to reach US$ 21.73 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2024 to 2031.

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The incorporation of advanced features such as navigation, Bluetooth connectivity, and voice recognition in automotive displays is expected to drive the demand. The automotive smart display market is expected to witness significant growth owing to the rising demand for enhanced user experience and convenience in vehicles. Various automotive manufacturers are focusing on developing innovative and integrated smart display solutions to improve safety, entertainment, and overall driving experience. Additionally, the growing demand for electric and autonomous vehicles is also contributing to the market trends.

Advanced safety features

The development and adoption of advanced driver assistance systems and autonomous vehicle technologies has created demand for sophisticated displays inside vehicles. Smart displays that can seamlessly integrate with ADAS functions allow drivers to stay informed of surroundings through rear view cameras, blind spot monitoring images, and other safety data streams. As sensors, cameras, and computer vision systems become more intelligent, the role of in-vehicle displays is evolving from basic instrumentation to become the primary human-machine interface. Display manufacturers are working closely with automakers to develop solutions that make critical safety information instantly readable while minimizing potential driver distraction. Over the coming years, smart displays are expected play an increasingly important safety role through features like advanced heads-up displays that overlay directions, traffic conditions, and potential hazards directly onto the windshield for at-a-glance awareness.

For instance, in August 2023, Hyundai Motor Company launched the all-new Santa Fe SUV, featuring a first-in-class 12.3-inch Panoramic Curved Display that integrates a digital cluster and infotainment system, enhancing driver visibility and luxury.

Along with advanced driver assistance systems, connectivity has also emerged as a focal point of innovation in the automotive sector. As vehicles add LTE modems and integrate with smart home devices and smartphones through app-based platforms, drivers and passengers expect in-car infotainment and productivity to behave similar to the always-connected experiences they are used to outside the vehicle. This has sharpened demand for high resolution smart displays that can smoothly run the latest in-vehicle app store features and integrate seamlessly with users' existing device ecosystems. Now capable of supporting advanced touch, gesture and voice controls, today's smart automotive displays go beyond basic multimedia to become portals to such functions as e-commerce, entertainment streaming, personal administration and live vehicle telemetry. Manufacturers are additionally equipping smart screens with sophisticated mechanical designs for easily accommodating future technology insertions through modular designs.

For instance, in May 2023, Nvidia a technology company and MediaTek announced a collaboration to enhance connected car technology, integrating Nvidia GPU chiplets and software into MediaTek’s system to power advanced vehicle infotainment systems capable of streaming video and interacting with drivers through AI and augmented reality.