With the increase in disposable income and globalization, consumers are heading for technologically advanced products, such as automotive smart display. Automotive smart display consist of indicators and other displays in the instrument panel, and can even be provided for the rear seat passengers. Nowadays, interiors of automotive including both commercial and passenger vehicles are drawing significant attention from the makers as well as users, in terms of quality and comfort. Comfort and security features that the automotive smart display brings are attracting consumers towards them.
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Automotive vehicle manufacturers nowadays have started focusing on developing and innovating slim looking interiors, dashboards, and display, which are easier, safer, and controlled to use. Automotive smart display is one of these innovative developments, highly demanded by customers nowadays. Automotive smart display is expected to replace the traditional automobile displays in the coming years. Automotive smart display consist of indicators and other displays in the instrument panel, and can even be provided for the rear seat passengers. Navigation systems, radio and audio, and board computers are also included within automotive smart display. The term ‘smart’ is used with these displays, because apart from providing all traditional display functions, these can also be connected to the internet via Wi-Fi. One of the best applications where automotive smart display is being used is in cabs and taxis. Nowadays, cabs are installed with automotive smart display for the purpose of navigation. A very popular acronym that is being used nowadays is V2E (Vehicle to Everything), which refers to the changing trends in the automobile industry, and automotive smart display is a huge part of this revolution. It is estimated that in the forecast period 2017 to 2022, the global Automotive Smart Display Market will grow at significantly high growth rate.
Growing demand for autonomous and semi-autonomous vehicles has fueled the market for automotive smart display. Also, the demand for comfort features as well as safety requirements is expected to push the growth of Automotive Smart Display Market. In many countries, the government has made regulations regarding automobile safety and mandatory in-vehicle GPS systems for commercial vehicles.
One of the major restraints that is likely to hinder the growth of Automotive Smart Display Market is the cost factor associated with it. Even though the average disposable income of people is increasing, most people are not able to afford the luxury. Being a new technology, the cost of setting up an automotive smart display in a vehicle is bound to be high.
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On the basis of the display technology type, Automotive Smart Display Market is segmented into TFT-LCD, and LCD.
On the basis of the region type, Automotive Smart Display Market is segmented into 7 key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle-East and Africa (MEA) and Japan.
Asia-Pacific region is estimated to be the region with highest growth in the Automotive Smart Display Market. This growth is attributed to the increasing cases of road accidents and the need for implementation of the measures related to road safety. Also, the Asia Pacific region is gradually being called the hub of automobile production. Apart from Asia-Pacific region, Japan is also expected to show a high growth rate in the Automotive Smart Display Market. The region comprises of a market that is technologically very advanced. Also, growing demand of consumers for smart products is fuelling the Automotive Smart Display Market in the Japan region.