2022 “Intelligent Cockpit”— LCD Instrument Panel Market Research Report

Intelligence integration is a significant trend in the global automotive industry, and the intelligent cockpit, which incorporates a range of cutting-edge technologies, is one of the key areas of focus for ICV. In particular, ICV has researched the core intelligent hardware of passenger vehicle cockpits, including LCD instrument panels, in-vehicle infotainment display, and HUDs. This report presents research findings on LCD instrument panels.

The LCD instrument panel has become increasingly ubiquitous in modern automobiles, having essentially replaced traditional instrument panels. Compared with traditional instrument panels, LCD instrument panels can provide more detailed vehicle information and can maintain clarity under a variety of lighting conditions, making it easier for drivers to access vehicle information. Additionally, LCD instrument panels offer more flexible interfaces, allowing drivers to customize the panel display interface according to their personal driving habits.

Looking at the global passenger vehicle industry, the penetration rate of LCD instrument panels surpassed 90% in 2022, making it the highest-penetrated core hardware in intelligent cabins, with a growth rate of 9.8% compared to 2021. Currently, the relevant technology for LCD instrument panels has become relatively mature, and ICV expects its penetration rate to reach 99% by 2026.

In 2022, the global market size of LCD instrument panels in passenger vehicles reached $11.68 billion, an increase of nearly 6% from 2021. Due to the fact that the penetration rate of LCD instrument panels has reached 90%, ICV predicts that the market share of LCD instrument panels will maintain a relatively slow but steady growth rate. It is expected to reach $14.65 billion by 2027, with a 6-year CAGR of approximately 3.8%.

When studying the intelligent cockpit hardware, ICV divided the global market into five regional markets. China, as the highest sales market for passenger vehicles, had an LCD instrument panel market size of $4.88 billion in 2022, and is expected to reach $6.39 billion in 2027. The European market followed closely with an LCD instrument panel market value of approximately $2.77 billion in 2022, slightly lower than that of 2021, but it is expected that its market size will continue to grow steadily, possibly reaching $3.31 billion by 2027.

Report Link：2022 “Intelligent Cockpit”— LCD Instrument Panel Market Research Report

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