Establishing Future Car Display Consortium... Strategy to Capture 15 Trillion Won Market

MOU Signed to Secure Future Vehicle Market Position

[Asia Economy Reporter Park Sun-mi] A strategic council has been established to secure a leading position in the future car display market, which is expected to grow to 15 trillion KRW by 2029.

On the 17th, the Korea Display Industry Association announced that four organizations?the Korea Automobile Manufacturers Association, the Korea Automobile Industry Cooperative, the Korea Automotive Research Institute, and itself?held a signing ceremony for a memorandum of understanding (MOU) to form a strategic council for future car displays. This is significant as it creates a cooperation channel between the display and automobile industries, which previously had no points of contact, and unites representative organizations from different sectors to devise strategies for the future car display market.

At the MOU signing ceremony, the four participating organizations mutually agreed to promote activities such as building a domestic ecosystem for vehicle displays, analyzing industrial supply chains to secure new markets, establishing infrastructure, discovering joint research and development (R&D) projects, and cooperating on inter-industry exhibitions and forums. The Display Association plans to conduct demand surveys on industry difficulties and suggestions, develop detailed corporate support strategies, and actively promote council activities including hosting convergence forums to expand inter-industry exchange opportunities.

This year, the vehicle display market has established itself as an important sector, accounting for 8% of the total display market with a value of 9.1 billion USD. It is expected to reach 11.6 billion USD (approximately 15 trillion KRW) by 2029. Experts predict that when Level 4 fully autonomous driving is commercialized in 2027, the display area applied to vehicles will exceed 100 inches.

Lee Dong-wook, Vice Chairman of the Korea Display Industry Association, said, "In future cars, displays will be used not only for instrument panels but also on front and side windows and sunroofs, with the total display area per vehicle exceeding 100 inches," adding, "The vehicle display market, reborn as a moving entertainment space, will become a new growth engine for the display industry." He added, "Through this MOU, we hope to secure a new focal point connecting the automobile and display industries and technologies, laying the foundation to lead the global market."