MarkNtel Advisors recently published a detailed industry analysis of the Global Automotive Multifunction Display Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Automotive Multifunction Display Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Automotive Multifunction Display Market is projected to grow at a CAGR of around 5.57% during the forecast period, i.e., 2023-28.
What are the major Driver the Global Automotive Multifunction Display industry?
Convenient Driving is a Major Factor Pushing Multifunction Display Adoption - The use of a multifunction display within the automotive sector has resulted in convenient riding for drivers. It enables the driver to get all the information displayed easily through the fingertips, thereby enabling navigation, entertainment, and safety control for the driver. Along with it, the rising concern over road safety & safe driving has also boosted the adoption of multifunction displays, as it allows drivers real-time information & helps prevent accidents. For instance:
- In 2022, BeyonCa, a China-based electric vehicle startup, unveiled to launch of its smart premium EV car. The car is equipped with smart features, including the installation of a multifunction display to help the driver park the car. The system can also monitor & display the driver’s real-time health status & can automatically stop the vehicle to prevent accidents.
Further, with the advancement in technology, there has been growing usage of artificial intelligence (AI) & the internet of things (IoT). These tech advancements enable integration with other smart devices such as air conditioners, refrigerators, mobile phones, CCTV cameras, etc. This, in turn, generates the requirement for installing multifunction displays in cars & other automobiles to enable real-time monitoring of the connected devices. Thus, the advancement in technology has provided more convenience to the driver while riding a vehicle, resulting in the increased adoption of multifunction displays within the automotive sector. Consequently, creating a positive outlook for future growth in the market.
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What segments define the Global Automotive Multifunction Display market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
- By Display Size
- Less than 5’
- 5’-10’
- Greater than 10’
- By Display Type
- LCD
- TFT-LCD
- OLED
- LED
According to report, Out of all, LCD (Liquid Crystal Display)-based multifunction display holds a considerable share due to the luminous images display, better touch performance, and efficiency.
- By Type
- Conventional Display
- Touchscreen
- By Application
- Digital Instrument Cluster
- Centre Stack
- Head-up Display
- Rear Seat Entertainment
According to report, The Digital Instrument Cluster has the largest market share since this area of the display is required in every type of vehicle, like automobiles, SUVs, and others, as these displays give essential information to drivers, such as fuel usage, navigation, etc.
- By Demand Type
- Original Equipment Manufacturer (OEM)
- Replacement
- By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
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Geographical Analysis: Global Automotive Multifunction Display Market
North America
South America
Europe
The Middle East & Africa
Asia-Pacific
Global Automotive Multifunction Display Market Share & Competitive Landscape:
The Automotive Multifunction Display Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Global Automotive Multifunction Display Market are:
- Innolux Corp.
- Continental AG
- Denso
- Garmin Ltd.
- Nippon Seiki Ltd.
- Aptiv Inc.
- Pioneer Corporation
- Aspen Avionics
- Samtel Group
- Visteon Corporation
- Japan Display Inc.
- Futaba
- LG Display
- Socionext Inc.
- Yazaki
Recent Developments in the Global Automotive Multifunction Display Market
- 2022: Hyundai Mobis, developed adjustable display technology with ultra large curved screen for autonomous vehicle. The company has also applied for the patent for the swivel display arrangement technology & position control.
Questions Addressed in this Study
1.What factors are driving the Global Automotive Multifunction Display Market growth?
2.How is the Global Automotive Multifunction Display Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Global Automotive Multifunction Display Market?
4.What is the current size of the Global Automotive Multifunction Display Market, and how is it projected to change in the future?
6.What is the future outlook for the Global Automotive Multifunction Display Market in terms of technological advancements and market expansion?
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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