A market research firm can assist one in learning about new goods and services. Prioritizing the identification of market needs might give companies the chance to steer clear of costly errors. These elements help identify the most significant clients and take into account what the business can provide its clients. The use of SWOT analysis to define, present, and analyze the competitive landscape in the market is heavily emphasized in the Pillar To Pillar Display Market study report. The best industry knowledge, practical solutions, talent solutions, and cutting-edge technology were combined to produce this excellent study.
Fact.MR, a market research and competitive intelligence provider, has published a report, which reveals that the global pillar to pillar display market is valued at US$ 36 million in 2022 and is set to balloon at a CAGR of 46.2% through 2032. The market is benefitting due to the surge in demand for smart displays in car cockpits that can allow access to auto-infotainment systems.
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With the rising usage of advanced infotainment systems and integration with ADAS systems for autonomous vehicles in car cockpits, connectivity and display requirements are skyrocketing. Increasing luxury vehicles penetration, rising sales of EVs, technological upgradation, product development, and rise in OEMs and aftermarkets are enabling the market to enjoy significant growth.
Connected car are the new norm in the automobile industry where we can connect our cars through the Internet via Wireless Local Area Network (WLAN). Increasing road accidents has become the primary factor for consumer demand for smart displays in cockpits. Pillar to pillar displays enhance automotive infotainment systems by providing detailed information on fuel status, navigation, and car condition, along with entertainment such as music and audio.
Owing to technological developments in the display market, demand for pillar to pillar displays, due to their high resolution and premium look, is expected to witness significant growth over the coming years.
Key Takeaways from Market Study
- The global pillar to pillar display market is projected to grow 46X and reach US$ 1.65 billion by 2032.
- The market will showcase growth at 20.6% CAGR between 2024 and 2032.
- S display type dominated the market with 52% share in 2021.
- Together, the Americas and EMEA are likely to represent 86% market share in 2022.
- Sales of pillar to pillar displays are expected to increase at CAGRs of 42.3% and 46.3%, respectively, in APAC and the Americas.
“Advanced smart car cockpits provide a route to scaling pillar to pillar displays, especially for premium cars,” says a Fact.MR analyst.
Pillar to pillar displays are at the developing stage as the commercialization of the product is yet to boom. Manufacturers such as Continental, LG, and Denso are leading the race to capture a significant market share through collaborations with leading automakers.
- For example, LG collaborated with Mercedes for the Mercedes-Benz User Experience (MBUX) Hyperscreen, to provide a top-notch look and unmatchable stability.
- Similarly, Continental has entered into a partnership with a leading automaker to commercialise the product by 2024.
The market is expected to take a leap post-adoption by market leaders, while tier-2 car brands will be following the trend with the inclusion of pillar to pillar display OLED technology.
The market will be highly consolidated with only a limited numbers of players operating in the space till 2026. However, it is anticipated that mass production and competitive pricing would lead to an increase in the number of market entrants after that.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global pillar to pillar display market, presenting forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of display type (S, V, C, L) and sales channel (OEMs, aftermarket), across major regions of the world (Americas, EMEA, Asia Pacific).