Center Stack Display Market 2020 and Forecast 2021-2027

  • TBI228706
  • November 05, 2020
  • Global
  • 135 pages
  • IFF Market Research
                                              

Report Overview: Center Stack Display Market

The global center stack display market size was valued at USD 4.59 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 12.3% from 2021 to 2027. Demand for center stack displays was pegged at 72.39 million units in 2019. The market for center stack displays is expected to witness significant growth in the forthcoming years owing to increasing demand for gesture controls, advanced infotainment systems, and central controllers that are being widely used in passenger vehicles for luxury, safety, comfort, and security benefits. The automobiles are outfitted with center stack systems on the dashboard of the vehicle that consists of the control systems, such as music and audio system and temperature display, and supports reverse rearview camera system. Furthermore, rising consumer demand for convenience features and in-vehicle comfort and growing trend of connected vehicles are fueling the market growth. Customers are leaning more towards the vehicles that are equipped with multiple electronic gadgets and in-vehicle infotainment technology. For instance, smartphones can be connected to the in-vehicle infotainment system. This integration of the smartphone function with the in-vehicle infotainment system allows users to make calls using the in-vehicle touchscreen infotainment display. Thus, the ease and flexibility offered by the implementation of center stack systems is anticipated to escalate market growth. Increase in the sales of passenger vehicles pre-equipped with audio and visual entertainment in the form of infotainment units, coupled with features such as real-time traffic and navigation, is bolstering the market growth. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), in 2019, the sales of passenger cars in Asia Pacific accounted for 35,959,799 units. However, in 2018, the sales of passenger vehicles in the region accounted for 39,296,980 units. Thus, increase in the sales of the passenger vehicles in the region is expected to drive the market for center stack display over the forecast period 2021-2027. Additionally, a number of vehicle OEMs are offering advanced center stack display solutions in economic and mid-segment vehicle variants. However, the cost of equipping a vehicle with center stack display solutions impacts the overall cost of the vehicle. Thus, a major challenge for OEMs is to lower the cost of center stack systems to reduce its impact on the overall cost of the vehicle. For instance, in the cost-sensitive markets such as China and India, consumers purchasing economic and mid-segment vehicles prefer to purchase a vehicle with no additional costs for value-added features. Hence, high cost of the vehicles equipped with center stack display solutions is expected hinder the market growth. Therefore, the price of center stack systems needs to be reduced considerably in order to make center stack display solution a basic feature in passenger cars. Display

Technology Insights: Center Stack Display Market

Based on display technology, the market for center stack display is segmented into TFT LCD and OLED. The TFT LCD segment led the market and accounted for over 80.0% share of the overall revenue in 2019. The TFT LCD systems are being widely adopted by the center stack display manufacturers owing to their benefits, such as high resolution, low power consumption, and lightweight. Moreover, the low cost of these center stack systems as compared to the other technologies has resulted in growth of the segment. The OLED segment is anticipated to register the fastest revenue-based CAGR of 15.7% over the forecast period. This growth is attributed to factors such as better picture quality, visibility, and sharpness than TFT LCD screens. Additionally, the OLED displays are highly responsive to touch and have flexible design specifications, resulting in the inclination of OEMs towards OLED technology.

Display Size Insights: Center Stack Display Market

Based on display size, the market is segmented into up to 7-inch and more than 7-inch. The up to 7-inch segment lead the market for center stack display in 2019 with more than 54.0% share of the global volume. The up to 7-inch center stack displays are majorly equipped in the economic and mid-segment vehicles. Thus, growing demand for these type of vehicles in developing countries, such as China and India, is anticipated to drive the segment over the forecast period. The more than 7-inch segment is anticipated to expand at the fastest revenue-based CAGR of 13.2% over the forecast period. The growth of autonomous and semi-autonomous cars is expected to create opportunities for the more than 7-inch segment as these types of vehicles require large size center stack displays for infotainment and driver-vehicle communication. However, more than 7-inch center stack displays have already been implemented in the high-end luxury vehicles as these center stack displays make available suspension settings, climate control, and other driver-controlled functions at the touch of the screen.

Regional Insights: Center Stack Display Market

Asia Pacific lead the market and is expected to exhibit the highest volume-based CAGR of 15.9% during the forecast period. This growth is attributed to a rise in the number of sales of passenger vehicles in the region. China accounted for around 60% of the passenger vehicle sales in the region. The country was the leader in passenger car production and sales with 23.5 million and 23.7 million, respectively, in 2018. Moreover, some of the key players in the region are Panasonic Corporation; Alpine Electronics, Inc.; and Hyundai Mobis. The limited number of manufacturers creates significant investment opportunities for regional suppliers to capitalize on the local demand, thus making the region an attractive place for investors. Europe is projected to expand at the second-highest CAGR of 13.9% in terms of volume over the forecast period. The presence of large technology companies and significant investments made in the R&D of center stack displays are the major factors fueling the growth of the market in Europe. Moreover, some of the players operating in the region are Continental AG, Robert Bosch GmbH, Preh GmbH, and MTA S.p.A. Additionally, presence of major vehicle OEMs in the region is anticipated to boost the regional market growth.

Key Companies & Market Share Insights: Center Stack Display Market

The market for center stack display has been characterized by high competition owing to the presence of several dominant players. Manufacturers are focusing on entering into certain considerable inventory procurement contracts with suppliers that specify determinable products and quantities and long-term delivery timeframes. These players have the capability to deliver high volume of components without compromising on the quality and leverage their extensive product portfolio, along with their existing contracts with the OEMs. Additionally, the market players are investing in R&D to offer advanced center stack display solution to the vehicle OEMs. Key market players are also focusing on adopting various strategies, such as mergers and acquisitions, partnerships, and joint ventures in order to sustain competition. Implementation of these strategies helps companies in geographical expansion, increasing sales in a particular region, and enhancing their offerings in certain geographies. Moreover, they are launching new products and service lines and ensuring competitive prices. For instance, in January 2019, Panasonic Corporation launched SPYDR 3.0, a cockpit domain control platform. The SPYDR 3.0 is enabled with In-vehicle Infotainment (IVI) system, which features 4K resolution for the infotainment display. Key players in the center stack display market include:

Key companies Profiled: Center Stack Display Market Report

  • Alpine Electronics, Inc.
  • Continental AG
  • HARMAN International
  • HYUNDAI MOBIS
  • MTA S.p.A
  • Panasonic Corporation
  • Preh GmbH
  • Robert Bosch GmbH
  • Texas Instruments Incorporated
  • Visteon Corporation
The report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global center stack display market report based on display technology, display size, and region:

Display Technology Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)

  • TFT LCD
  • OLED

Display Size Outlook (Volume, Million Units; Revenue, USD Million, 2016 - 2027)

  • Up to 7-inch
  • More than 7-inch

Table of Contents
Chapter 1. Methodology and Scope
   1.1. Research Methodology
   1.2. Research Scope and Assumptions
   1.3. List of Data SourcesChapter 2. Executive Summary
   2.1. Center Stack Display- Industry Snapshot & Key Buying Criteria, 2016 - 2027Chapter 3. Center Stack Display Industry Outlook
   3.1. Market Segmentation
   3.2. Market Size and Growth Prospects, 2016 - 2027
   3.3. Value Chain Analysis
   3
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