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.
The implementation of internet of things is expected to raise the growth potential of smart displays in automobiles the coming years. The availability of tech-enabled cars is predicted to have a significant bearing on the automotive smart display market in the upcoming period. Furthermore, the upsurge in innovation in safety technologies and vehicle connectivity is predicted to encourage the growth of the market for automotive smart display in the forecast period.
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The segmentation of the automotive smart display market is carried out on the basis of display technology, driving level, vehicle type, and region. On the basis of Display technology, the automotive smart display market is segmented into TFI-LCD, LCD, and other advanced technology. Based on Driving Level, the automotive smart display market is segmented into semi-autonomous and Conventional. On the basis of vehicle type, the automotive smart display market is segmented into Passenger vehicle and Commercial vehicle. The regions included in the automotive smart display market are North America, Europe, APAC and the rest of the world.
Detailed Regional Analysis
The regional analysis of the automotive smart display market comprises of regions such as North America, Europe, APAC and rest of the world. The Asia Pacific region is projected to lead the smart display market for automobiles throughout the forecast period. The development of the automotive manufacturing industries in the emerging economies such as China and India is running the market for automotive smart display. The market in emerging countries is mainly driven by economic development and constant industrialization, which benefits in the production of vehicles. Furthermore, the elevated production of vehicles, reduced manufacturing cost and the accessibility to inexpensive labor are a few of the factors that are boosting the market in the Asia Pacific region.
The progress capability of the market is bolstered by the accretive nature of the assets available in the market. The market is projected to accomplish an absolute lead in the market place owing to improved strategies in specific areas. The advancement of the market is upgraded chiefly due to the reduction in promotional and miscellaneous expenses. An intensified growth pace is observed due to the productive effect exerted by the market forces both externally and internally. Additionally, the deals being coined in the market are likely to additionally inspire the development of the market in the impending years. The absorbed expenses in the market are readily dispensed with, opening more room for the development in the market. The companies functioning in the market are persistently taking on the hindrances to progress and are forming strategies that are projected to guide to a beneficial outcome on the market’s advancement.
The chief competitors operating in the automotive smart display market globally are Continental AG (Germany), Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), Denso Corporation (Japan), Visteon Corporation (U.S.), LG Display (South Korea), Valeo SA (France), Alpine Electronics Inc. (Japan), Magna International Inc. (Canada) and Delphi Automotive PLC (U.K.).
Sep 2018 Hyundai Motor Company, a leader in the Automobile sector recently announced investment in WayRay AG, a Zurich-based technology startup to advance Holographic AR display system for the succeeding generation of connected vehicles. The company did not reveal the investment sum or stake details. The Korean carmaker is proposing to implement this technology to its mass-production vehicles by 2020.
Jan 2019 Qualcomm is displaying some of its in-vehicle expertise with the presentation of a multi-tiered third-generation Snapdragon Automotive Cockpit platforms that consists of premiere, performance, and paramount classes. The new Snapdragon automotive cockpit platforms are the first scalable AI-based platforms according to Qualcomm and are intended to alter in-vehicle experiences.
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