Smart Display Market Size Overview
The growth in the implementation of artificial intelligence in automotive smart displays is anticipated to boost the market’s growth. Reports that evaluate the automobile industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is projected to develop at a CAGR of 12.56 % while gaining revenues worth USD 9.78 Billion in the forecast period.
Key players leading the global Smart Display Market Size include Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Visteon Corporation (US), LG Display (South Korea), Valeo SA (France), Alpine Electronics Inc. (Japan), Delphi Automotive PLC (UK), and Magna International Inc. (Canada) among others.
There are four key dynamics that the market is segmented into;
By Display Technology : LCD and TFI-LCD among other advanced technology.
By Driving Level : Conventional and Semi-autonomous.
By Vehicle Types : Passenger vehicle and Commercial vehicle.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
The Asia Pacific accounts for the leading region in the global Smart Display Market Size.
The burgeoning automotive sector, heading with the strengthening economy in countries, such as India, China, and South East Asian countries drives the demand for smart displays in the region.
Moreover, the development in the automotive manufacturing sectors in rapidly emerging economies such as China and India is driving the regional market. The rapid industrialization, which helps in the production of vehicles, propels the growth of the regional market.
Additionally, high production of vehicles, low manufacturing cost and availability of cost-competitive workforce are some of the factors that boost the APAC market. Furthermore, the huge technological advancements alongside the increasing number of OEM and aftermarket parts companies are driving the growth of the Smart Display Market Size in the region.
The adoption of automotive smart displays in mid-segment range cars led by the improving socio-economic conditions in the region impacts the regional market growth, positively. Furthermore, the increasing number of display manufacturers that have shifted their bases in the emerging APAC countries, recently is providing a huge impetus to the market growth.
Highly competitive, the Smart Display Market Size appears to be fragmented characterized by the presence of several major well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, technology launch, and expansion in order to maintain their positions in this market by gaining a competitive advantage. Strategic alliances between these players support the growth and expansion plans of the key players during the forecast period.
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