July 15, 2022 10:00 ET | Source: FACT.MR FACT.MR

United States, Rockville MD, July 15, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global center information display market is estimated at US$ 662.9 million in 2022 and is expected to expand at an impressive CAGR of 7.9% during the forecast years of 2022-2032. The market is set to grow along with the robust growth of the global automotive industry.

Center information displays come with a wide range features and multi-functions that provide the driver as well as passengers with proper informatics. These systems offer integrated navigation, which has become a vital element in transportation, multiple sources of entertainment, and smartphone connectivity, making it easier to communicate. The rise of electric cars is also pushing demand for information displays. Moreover, safety regulations are becoming stricter, with companies such as Tesla leading the way in self-driving and autonomous vehicles.

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The global automotive smart display market stood at US$ 7.2 billion in 2021 and is expected to witness significant growth at 5.1% CAGR over the forecast period. Center information systems are now commonly using TCT LED and OLED displays that look attractive in vehicles. The center information display market is estimated to grow 2.1X over the next ten years.

Why are LED Center Information Display Most Widely Used?

There has been rapid growth in electric vehicles and autonomous driving & connected cars, which has led to the growth of the automotive industry. LED technology completes entirely new design options for light sources and has gained huge interest among customers with the help of attractive looks and multi-functional devices in vehicles.

South Korea’s LG Electronics developed a premium in-vehicle infotainment system in the EQS luxury electric vehicle from Mercedes Benz AG. Thus, the integration of OLED center information displays has increased steadily, surpassing a valuation of US$ 430.4 million in 2021. Furthermore, with the mounting global automotive display market, the LED sub-segment is predicted to expand 2.3X by the end of 2032.

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Key Segments Covered in the Center Information Displays Industry Survey

Market development and growth strategies involve product launches, new product attributes, research & development of products, geographical expansions, partnerships, collaborations, and much more. Manufacturers are focusing on advanced technologies to meet specific application needs and requirements.

Furthermore, market players are channelizing their resources to increase their customer base by focusing on diverse features, depending on advancements in the display market for different regions. Moreover, leading market participants are focusing on expanding their product offerings by making R&D investments to offer advanced and smart center information displays for vehicles.

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Key players in Center Information Displays Market

Key Takeaways from Center Information Displays Market Study

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