"Vehicle Display Market to Exceed 16 Trillion Won by 2027"

The automotive display market is expected to grow at an average annual rate of 7.8%, surpassing 16 trillion KRW by 2027.

On the 2nd, the Korea Display Industry Association stated in its "Automotive Display Value Chain Analysis" report that the automotive display market is projected to grow from $8.86 billion last year to $12.63 billion (approximately 16.3 trillion KRW) by 2027, at an average annual growth rate of about 7.8%. It explained that automotive LCDs accounted for 97.2% of the market share last year but are currently on a declining trend due to increasing demand for large and high-resolution displays. Conversely, OLED market share is expected to expand from 2.8% last year to 17.2% by 2027.

The four Northeast Asian countries all participate in automotive LCD production. The market share by country is China (38.4%), Taiwan (33.7%), Japan (14.8%), and Korea (13.1%). Meanwhile, Korean companies are reducing their share of LCDs and focusing on OLEDs, which can implement new form factors such as slidable displays required by premium automobiles. The market share of automotive OLEDs is 93% for Korea and 7% for China, with Korea significantly ahead. However, China, increasing its market penetration through expanded OLED investments, rapidly grew its share from 0% in 2021 to 7.1% last year, indicating the possibility of intensified competition in the automotive OLED market in the future.

Meanwhile, due to changes in market demand, displays are undergoing a new transformation. Currently, with the highest level of autonomous driving in cars?conditional automated driving (Level 3)?being equipped, changes in the utilization of interior vehicle space are altering the display requirements of the automotive industry. In particular, the automotive industry demands displays that exceed sunlight reflection brightness levels (500~1000 nits), operate without impact under extreme temperature changes (-30~70℃), allow free design modifications, and maintain high-resolution performance.

OLED currently best meets these requirements. This is why the finished car industry is expanding OLED adoption mainly in premium lines.

The display industry is expected to further expand its automotive display business area. The advancement of electric vehicles and autonomous driving technologies is making the role of in-vehicle displays increasingly important. Displays installed in automobiles are used not only for simple screen video implementation but also as interfaces controlling automotive parts and interior/exterior materials, requiring high-quality technological implementation and consideration of convergence between existing automotive parts and display technologies.

Lee Dong-wook, Vice Chairman of the Korea Display Industry Association, said, “The global automotive industry is expanding differentiation factors into electronic components, and the importance of display technology in electronic components is increasingly gaining attention,” adding, “It is essential to establish a stable supply chain ecosystem strategy to support exports and investments in the rapidly emerging automotive display market.”

This content was produced with the assistance of AI translation services.