Automotive LCD Display Market Research, 2031
The global automotive LCD display market was valued at $7.2 billion in 2021, and is projected to reach $12.2 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.
According to Vaishnavi Mate Lead Analyst, Semiconductor and Electronics, at Allied Market Research, the automotive LCD display Market is expected to showcase remarkable growth during the forecast period of 2022-2031. The report contains a thorough examination of the market size, automotive LCD display market trends, key market players, sales analysis, major driving factors, and key investment pockets. The report on the global automotive LCD display market provides an overview of the market as well as market definition and scope.
Automotive LCD displays are used to display vehicle information to driver and passengers. This display is also used for multimedia visualization. The emergence of advanced functions, including navigation, multimedia systems, driver assistance, and connected car features, and the improving driver-to-vehicle communication are anticipated to boost the use of the LCD display in the automotive sector. 3D displays are in trend in automotive sector. Also, LCD display technologies witness popularity at a high pace. In addition, the LCD display technology has gained increased importance in automotive products. Moreover, automotive manufacturers plan to incorporate LCD displays to attract the consumers. These automotive displays are highly customizable according to customer requirements. This display increases brand value of the vehicle. Hence, the expansion of production LCD displays is expected to drive the growth of the automotive LCD display market in this country.
The automotive lcd display market is segmented into Display Size and Vehicle Type.Factors such as growth in cloud computing, surge in edge computing, and rise in government regulations regarding localization of data centers fuel the growth of the automotive LCD display market size. However, restricted view angle of LCD displays may hamper the growth of the market. Furthermore, increase in AR and VR devices in displays is expected to offer lucrative opportunity for automotive LCD display market outlook.
On the basis of display size, the market is classified into upto 7 inch and more than7 inch. The upto 7 inch segment was the highest revenue contributor to the market and is expected to follow the same trend during the forecast period.
On the basis of vehicle type, it is categorized into passenger car, light commercial vehicle, and heavy commercial vehicle. Passenger car segment dominated the market in 2021.
On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries. Asia-Pacific accounted for the largest market share in 2021. Major organizations and government institutions in the country are intensely putting resources into the technology to develop and deploy advanced technology solutions in the automotive.
COMPETITION ANALYSIS
Competitive analysis and profiles of the major global automotive LCD display players that have been provided in the report Continental AG, LG Display Corporation, Denso Corporation, Socionext, Yazaki, Japan Display Inc., Visteon Corporation, Samsung, Panasonic Corporation, Robert Bosch, and Sharp Corporation. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration and business expansion to increase the automotive LCD display market share during the forecast period.
COUNTRY ANALYSIS
Country-wise, the China acquired a prime share in the automotive LCD display industry in the Asia Pacific region and is expected to grow at a significant CAGR during the forecast period of 2019-2031.China holds major market share in terms of revenue generation from the sale of LCD display module because of the higher presence of presence of the automotive manufacturers.
In Europe, the UK, dominated the automotive LCD display market, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period. However, Germany is expected to emerge as the fastest-growing country in Europe's automotive LCD display with a notable CAGR, due to advancement in the automotive industry which drives the usage of microelectronics in the country and thus creates lucrative growth automotive LCD display market opportunity in Germany.
In North America, U.S. is expected to emerge as a significant market for the automotive LCD display industry, owing to new developments in touch screen technologies has led to shift from single touch screen to sensitive multitouch screens. Continuous advancements in display technology help improve the quality of touch screen. Innovation in touch screen displays is the key driver expected to boost the market growth during the forecast period.
By LAMEA region, the Latin America country garner significant market share in 2021 due to the adoption of new technologies, digital transformation and connectivity are reshaping the future of automotive and the consumer electronics industry in Latin America. Moreover, the Middle East region is expected to grow at a significant CAGR from 2022 to 2031, owing to shifts in artificial intelligence, industry 4.0, and smart technological changes in recent years, which is expected to reshape the automotive LCD display market growth in the Middle East.
TOP IMPACTING FACTORS
The significant factors impacting the automotive LCD display market include upsurge in adoption of Automotive LCD Monitor and LCD modules for automotive in touch screen devices. Rise in need for AR/VR devices and commercialization of autonomous vehicles is expected to create lucrative growth opportunities for the automotive LCD display market in the near future. However, restricted view angle of LCD displays restricts the market growth up to a certain level.
IMPACT OF COVID-19 OUTBREAK
The semiconductor industry globally has been impacted by the spread of Covid-19 and improvements are expected to be completed in the upcoming years with more efficiency in order to make up for lost opportunities during lockdowns.
HISTORICAL DATA & INFORMATION
The global automotive LCD display market is highly competitive, owing to the strong presence of existing vendors. Vendors of the automotive LCD display market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to increase as technological innovations, product extensions, and different strategies adopted by key vendors increase.
KEY DEVELOPMENTS/ STRATEGIES
Continental AG, LG Display Corporation, Japan Display Inc., Visteon Corporation, Samsung, Panasonic Corporation, and Sharp Corporation are the top 5 companies holding a prime share in the automotive LCD display market. Top market players have adopted various strategies, such as product launches, contracts, and others to expand their foothold in the automotive LCD display market analysis.
- In August 2022, LG Display Co Ltd extended their liquid crystal display (LCD) production, as panel prices continue to rise on robust demand.
- In May 2021, Japan Display Inc. (JDI) developed a 21.3-inch 5mega-pixel monochrome LCD (2048 × 2560ppi) with High-brightness and High-contrast ratio TFT display made by Dual-cell technology.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global automotive LCD display market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive LCD display market.
- The report includes the market share of key vendors and global automotive LCD display Market trends.
Automotive LCD Display Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 12.2 billion |
 Growth Rate | CAGR of 5.6% |
 Forecast period | 2021 - 2031 |
 Report Pages | 178 |
 By Display Size |
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 By Vehicle Type |
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 By Region |
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 Key Market Players | Robert Bosch, Yazaki Corp, Denso Corporation, Sharp Corporation, Socionext us, Continental AG, LG Display Co Ltd, JAPAN DISPLAY INC, Panasonic Corporation, Visteon Corporation, Samsung Electronics Co Ltd |
Analyst Review
The automotive LCD display market possesses high potential for the automotive industry. In the current business scenario, the demand for displays, particularly in the developing regions, is witnessing a significant increase, owing to rise in trend of touch-based devices and increase in adoption of electronic components in the automotive sector. Thus, companies operating in display industry adopt various innovative techniques to provide customers with advanced and innovative product offerings.
Technological advancements have augmented the overall industrial development within a wide range of industries. In May 2021, Japan Display Inc. (JDI) developed a 21.3-inch 5mega-pixel monochrome LCD (2048 × 2560ppi) with High-brightness and High-contrast ratio TFT display made by Dual-cell technology. High demand for more than 7 inch display in the automotive drive this market. In the near future, adoption of the AR/VR devices and commercialization of autonomous vehicles is expected to create lucrative opportunities for the key players operating in the automotive LCD display market.
Asia-Pacific is projected to dominate the market during the forecast period due to development of several displays and increase in number of touch screen devices. China is a major hub for display shipments across the globe, which boosts the growth of the automotive LCD display market in the region.
The automotive LCD display market will grow at a CAGR of 5.56% from 2022 to 2031
The global automotive LCD display market was valued at $12,185.2 million in 2031.
The key factors driving the market include upsurge in adoption of automotive LCD displays in touch screen devices. Rise in need for AR/VR devices and commercialization of autonomous vehicles.
Continental AG, LG Display Corporation, Japan Display Inc., Visteon Corporation, Samsung, Panasonic Corporation, and Sharp Corporation are the leading players in Automotive LCD Display Market.
The key growth strategies of automotive LCD display market players are business development and acquisition.
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