The TFT-LCD display segment accounted for the largest share of 53.4% in 2020. LCD and TFT-LCDs are commonly used in display applications as they meet the durability and temperature standards. Depending on the range of temperature required and the function of the display, manufacturers use a combination of TFT and LCD in a vehicle. The basic instrument cluster, center stack touchscreen display, and rear-seat entertainment touchscreen display are equipped with LCD panels. Advanced applications are equipped with TFT-LCD owing to its enhanced visual quality.
Displays Technology Insights
The OLED display segment is expected to register the fastest CAGR of 10.3% from 2021 to 2028. Passenger cars with OLED displays are being showcased at various automotive exhibitions, however, the penetration rate is low compared to the LCDs in the consumer models. Moreover, OLED automotive smart display systems are expected to witness faster adoption in comparison to other display technologies over the forecast period. Most of the upcoming vehicles are equipped with OLED displays.
Displays Application Insights
The center stack display segment accounted for the largest share of over 40.0% in 2020. Center stack displays are infotainment systems that offer a range of interactive features, such as navigation, music, cabin temperature controls, and other information. Advancements in the field of self-driving and connected cars are expected to propel the demand for center stack displays in vehicles. Additionally, several vehicle OEMs are aiming at offering advanced center stack display solutions in mid-segment and economical vehicle variants, thereby driving the segment.
Displays Regional Insights
Asia Pacific accounted for the largest revenue share of over 50.0% in 2020 and is anticipated to witness the fastest growth over the forecast period. China accounted for around 50% of the passenger vehicle sales in the region. The country emerged as a leader in passenger car production and sales, with 21.3 million units and 21.4 million units, respectively, in 2019. Some of the region's key players include Alps Alpine Co., Ltd., Panasonic Corporation, and Hyundai Mobis. The presence of a limited number of manufacturers creates substantial investment opportunities for regional suppliers to take advantage of the local demand, making the region an attractive market for investors.
The European market accounted for a considerable share in 2020. The region is a manufacturing hub for prominent automotive OEMs and premium vehicle manufacturers. Production activity in the region has been propelled by investments made by OEMs, such as Daimler, Jaguar Land Rover, Volkswagen, BMW, Nissan, and Honda. A majority of premium vehicle manufacturers in the region installed advanced automotive electronics systems in vehicles, which is projected to drive the European market.
Various of Displays CDTech Can Provide You
The products developed by CDTech have the characteristics of high brightness, high stability, low power consumption and support for overall solution, and have been widely used in the fields of industrial control equipment, medical treatment, smarthome, on-board display, instruments, communication equipment and other information terminals. If you are looking for a reliable merchandise of displays, don't hesitate to contact us now!