IHS Markit predicts automotive suppliers' 2017 combined global revenue from the primary automotive display systems market will jump 17 percent to reach a combined $11.6 billion -- and continue to grow in the coming years.
An IHS Markit report released Thursday, called "Automotive Display Systems Forecasts," said the display systems market will "increase drastically" in the next few years. Center stack, instrument cluster and head-up displays will together bring in more than $20.8 billion in total 2022 revenue, up from $9.2 billion five years ago.
For 2017, the report says center stack and instrument cluster displays will lead the pack in terms of revenue -- center stacks will bring in $6.1 billion and Internet clusters, $4.8 billion. While head-up displays will account for only $731 million of total display revenue in 2017, this segment may see the most growth through 2022.
Brian Rhodes, automotive technology analyst for IHS Markit, attributed the growth to a couple different factors.
"First are simple volume increases, with more vehicles adding new displays to the instrument cluster and center stack, along with head-up display deployments becoming more common," Rhodes said. "The second area of growth is in the technology value itself, as these displays are becoming larger and more capable -- and therefore more expensive."