What Has Been the Progress and Growth of the Automotive Multilayer Display Market in Recent Years?
The automotive multilayer display market has seen considerable growth due to a variety of factors.
• There has been a substantial growth in the size of the automotive multilayer display market in the past few years. The market is projected to escalate from a worth of $7.68 billion in 2024 to an anticipated $8.2 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
This significant growth during the historical period is primarily credited to the increase in consumer demands for high-tech features, government guidelines on in-vehicle safety systems, burgeoning consumer requirements, safety and connectivity necessities, along with the overall expansion of the automotive industry.
What Can Be Expected from the Automotive Multilayer Display Market Size?
The automotive multilayer display market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the automotive multilayer display market size is anticipated to experience robust growth, expanding to $10.04 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%.
Potential factors contributing to this growth during the predicted period include the incorporation of augmented reality (AR), trends in autonomous driving, customization and personalization, energy efficiency with a lightweight design, the adoption of AI and machine learning, as well as environmental sustainability. Key trends for this period encompass advancements in display technologies, AR integration, meeting regulatory compliance and safety standards, tackling supply chain challenges, customization and personalization, and environmental sustainability.
What Are the Critical Driver Fuelling The Automotive Multilayer Display Market's Growth?
The growth of the automotive multilayer display market is anticipated to accelerate in response to escalating demands for autonomous vehicles. These self-driving vehicles operate without human intervention, relying on automotive multilayer displays for aspects such as sensor fusion, navigation, regulation, prediction, HMI, fleet administration, and architecture. A report from December 2022, issued by the US-based non-profit organization, the Insurance Institute for Highway Safety, predicts that there will be 3.5 million autonomous vehicles on US roads by 2025, and this number is projected to increase to 4.5 million by 2030. As a consequence, rising demand for autonomous vehicles is a fundamental driving force for the expansion of the automotive multilayer display market. Growth in the automotive multilayer display market is also anticipated to accelerate as a result of increasing road accidents. Referring to any event on public or private roads involving at least one road user, such as a vehicle, pedestrian or cyclist, that results in unintended injuries or fatalities, road accidents are a major societal issue. Automotive multilayer displays can enhance driver awareness and potentially diminish accidents by making information like navigational guidance, speed restrictions, and alerts more discernible, even under conditions of intense sunlight or adverse weather. The World Health Organization, a specialized US-based health agency, stated in June 2022 that almost 1.3 million people succumb to road traffic injuries each year. Consequently, the upsurge in road accidents is a major impelling factor for the automotive multilayer display market's growth.
How Is The Automotive Multilayer Display Market segmented?
The automotive multilayer display market covered in this report is segmented –
1) By Type: Analog Display, Digital Display
2) By Vehicle Type: Light Commercial Vehicle, Heavy Commercial Vehicle, Passenger Car
3) By Application: Fuel Indicator, Speed Indicator, Acceleration Indicator
Subsegments:
1) By Analog Display: Pointer-based Analog Display, Hybrid Analog-Digital Display
2) By Digital Display: LCD Display, OLED Display, TFT Display, AMOLED Display
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How Are New Trends Impacting The Size Of The Automotive Multilayer Display Market?
Leading entities in the automotive multilayer display market are exploring new technologies like curved displays to attract more customers, boost their sales, and raise their revenue. An automotive curved ultrawide display offers a revolutionary in-vehicle infotainment and visualization mechanism featuring a large, wide, and curved screen. For example, in January 2023, Continental AG, a German automotive firm, introduced the Curved Ultrawide Display. The standout feature of this product is a 47.5-inch TFT display with a 7,680 by 660-pixel active area, lit by over 3,000 LEDs. The matrix backlight produces an excellent high-contrast image quality, providing users the ability to dim particular parts of the screen if required. This offers automakers the flexibility to create a futuristic cockpit design and display content across the continuous screen surface.
Who Are the Key Players In The Automotive Multilayer Display Market?
Major companies operating in the automotive multilayer display market report are:
• Mitsubishi Motors Corporation
• Bayerische Motoren Werke AG
• Robert Bosch GmbH
• Audi AG
• Renault SA
• Continental AG
• Panasonic Corporation
• Hyundai Mobis
• Johnson Controls
• Pioneer Corporation
• Skoda Auto
• Nippon Seiki Co. Ltd.
• LG Display Co. Ltd.
• Aptiv PLC
• KYOCERA Corporation
• AU Optronics Corp.
• HARMAN International
• Varitronix
• Yazaki Corporation
• Visteon Corporation
• Socionext America Inc.
• Alpine Electronics Inc.
• Denso Corporation
• SmartKem Ltd.
• PureDepth Inc.
What Is The Most Dominant Region In The Automotive Multilayer Display Market?
Asia Pacific was the largest region in the automotive multilayer display market in 2024. The regions covered in the automotive multilayer display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
