The global automotive smart display market size is expected to reach USD 16.98 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing demand for advanced safety features, automotive and cockpit electronics, and semi-autonomous and autonomous vehicles is expected to drive the market. The increasing demand for improved in-vehicle experience and the changing consumer buying behavior, along with the growth of luxury, premium, and high-end cars worldwide, are also expected to fuel the market demand over the forecast period.
The surge in demand for vehicle navigation and connectivity system in the automotive sector led to a growth in the usage of automotive visualization technology. The visualization technology has played a significant role in the advancement of the cockpit technology, which has led to the incorporation of interactive and smart displays in several vehicles launched by prominent automakers, such as Jaguar Land Rover, Mercedes-Benz, Volkswagen, Audi, and BMW. Moreover, the technology is gaining prominence among automotive display suppliers with an uptick in demand for automotive in-vehicle infotainment solutions as well as display solutions. An increase in the sales of passenger vehicles equipped with smart displays and in-vehicle infotainment systems, coupled with features such as navigation, driver assistance, and real-time traffic monitoring, is expected to bolster the market growth over the forecast period.
Asia Pacific held the largest share in 2020 owing to the presence of several key players, such as Panasonic Corporation (Japan), Yazaki (Japan), and Nippon Seiki (Japan) in the region. The region is characterized by the presence of developed nations such as Japan and South Korea, along with emerging economies such as China and India. In recent years, the region has emerged as a hub for automobile production.
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