SOUTHFIELD, Mich. The primary automotive display systems market will reach $11.6 billion in tier one supplier revenue globally in 2017, according to new analysis from business information provider IHS Markit (Nasdaq: INFO).
The market is set to increase drastically over the next few years, says the latest Automotive Display Systems Forecasts from IHS Markit. The most valuable are the Center Stack Displays and Instrument Cluster Displays, representing global revenues of $6.1 and $4.8 billion respectively. Head-Up Displays (HUD) account for only $731 million today, but show the largest growth potential in terms of percentage going forward through 2022. In 2022, combined value from the Center Stack Display, Instrument Cluster Display and Head-Up Display system markets total more than $20.8 billion, an increase of $9.2 billion in annual revenue in just five years, according to IHS Markit.
Continental is expected to be the top supplier of primary automotive display systems in 2017 based on global revenue forecasts, the IHS Markit research says. Visteon follows closely behind, as the only other supplier with a double-digit market share in this space. Panasonic, Denso and Bosch round out the remaining market share leaders in the top five. Combined, these suppliers account for more than $6 billion in revenue resulting from Center Stack Display, Instrument Cluster Display and Head-Up Display systems in 2017.
Thin film transistor liquid crystal display (TFT LCD) automotive display panel market shipments are expected to grow from 135 million units in 2016 to 200 million units in 2022. This technology will represent more than 67 percent share of total automotive display shipments, according to the Automotive Display Market Tracker from IHS Markit.
“The market growth momentum has shifted from center stack display, rear seat entertainment and other infotainment displays, to safety system displays, namely instrument cluster display, head-up display and eMirror systems,” said Stacy Wu, principal analyst for IHS Markit. While today’s volumes are large for infotainment display panels, safety-critical display panels will see double-digit growth through 2022, according to IHS Markit forecasts.
Based on the latest findings from IHS Markit, Japan Display, Innolux, Sharp, AU Optronics and LG Display are the top five TFT LCD automotive display panel manufacturers, representing more than 65 percent of the market in 2016.
IHS Markit (Nasdaq: INFO) is the automotive industry’s leading source for market-wide insight, expertise and advanced planning solutions. With a reputation of enabling better decisions and better results for nearly a century, the world’s leading OEMs, suppliers and their transportation partners rely on IHS Markit to power growth, improve efficiency and drive a sustainable competitive advantage.
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