Automotive Display Market Is Projected To Witness Significant Gains During 2022–2028

The automotive display market is projected to witness robust growth through 2028 owing to surging product demand in leading regions across the globe. In addition, increasing availability of technologically advanced products is slated to further support market expansion through the forecast timeline.
Recently, industry players have been focusing on adopting lucrative strategies to diversify their product portfolio, which has positively influenced the competitive landscape of the automotive display market. For instance, in February 2022, HARMAN International, a Samsung Electronics-subsidiary specializing in connected technologies in the automotive sector, announced the acquisition of Apostera, a German automotive technology expert. The takeover was intended to enable HARMAN to enhance its automotive product offerings with the integration of Apostera's mixed reality (MR) and augmented reality (AR) software solutions, thereby improving HARMAN's standing in the sphere of automotive AR/MR experience design.
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In another instance, in June 2021, Hyundai Mobis, a South Korea-based automotive parts company, introduced a "clusterless" head-up display, which claims to improve safety and convenience by raising necessary driving data at the eye level of the driver. The display is 15 inches-long and has been devised to boost the utilization of internal space. As a result, mounting development of advanced products has fostered industry outlook.
For comprehensive assessment, the automotive display market has been divided on the basis of product, screen size, display technology, and region. Based on product, the market has been categorized into instrument cluster display, center stack display, rear- seat entertainment display, and head-up display.
The instrument cluster display sub-segment is anticipated to grow at a robust CAGR to reach a sizable revenue by the end of 2028. Increased incorporation of advanced technologies in instrument cluster display is set to drive the growth of the segment in the forthcoming years.
With respect to screen size, the automotive display market has bene segregated into 5" to 10", below 5", and above 10". The above 10" sub-segment holds a sizable share in the market and is anticipated to exhibit notable growth through the study timeline. Shifting consumer focus towards enhancing the in-car experience is propelling the above 10" automotive display sales, which is likely to support segmental progress in the upcoming years.
By display technology, the market has been categorized into OLED and TFT-LCD. The automotive display industry share from the OLED sub-segment is foreseen to garner a considerable revenue by 2028, delivering a solid CAGR over the review period. OLED display supports high resolution and offers multiple interface compatibility, which is calculated to bolster segmental demand in the coming years.
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On the regional spectrum, the Latin America automotive display market is slated to expand at a steady pace to account for a considerable share in the overall industry revenue by the end of 2028. Significant expansion of manufacturing facilities by automotive OEMs, along with surging popularity of electric vehicles (EVs) in LATAM, is primed to fuel regional market growth in the future.