Tianma Automotive Regulations show that it has the largest global market share, and its automotive revenue in 2024 will exceed 40% year-on-year, continuing to lead the market
In 2024, driven by policy dividends and market demand, China's automobile market will achieve rapid development, leading to a significant improvement in the strength of the local supply chain. According to Omdia data, the total global shipments of automotive display panels will reach 232 million pieces in 2024, a year-on-year increase of 6.2%. Among them, the shipments of the original equipment market reached 202 million pieces, a year-on-year increase of 9.5%. The original equipment products need to pass the complete vehicle quality system requirements and strict reliability verification, which belongs to the real automotive field. As a leader in the field of automotive display, Tianma will continue to lead the automotive market in 2024, maintaining the first place in the global market share with an 18% market share, and achieving a 25% growth in shipments and a revenue growth of more than 40%. With the increase in shipments of high value-added and high-end products, the company's automotive display business revenue growth has exceeded the growth in shipments.
From the early layout in the late 1980s to the continuous cultivation of the in-vehicle display field, based on the technology accumulation and R&D innovation over the past 30 years, Tianma has achieved full coverage of product technology for various application scenarios, built a full technology map covering a-Si, LTPS, Oxide, OLED, Micro-LED, and realized diversified scene applications from traditional instruments, central control, head-up display, rear-seat entertainment, to co-pilot, armrest, rearview mirror, ceiling display, etc., to fully meet the diversified application needs of users.
At present, Tianma's in-vehicle display solutions have rich mass production experience for hundreds of brands and thousands of models, and its high market penetration rate is impressive-on average, 1 in every 4 cars in the world uses Tianma's instrument display products. In the field of in-vehicle display business, Tianma has maintained the world's first place in global automotive TFT-LCD and in-vehicle instrument display shipments for 5 consecutive years. In 2024, the in-vehicle head-up display (HUD) will top the world for the first time, fully demonstrating Tianma's leading strength in the field of in-vehicle display.
From the traditional fuel era to the new energy vehicle era, and then to the new stage of deep integration of electrification and intelligence, the continuous evolution of automotive display products is being accelerated, and smart in-vehicle display has become a new development trend. On the one hand, it injects new display genes into the smart cockpit, making human-vehicle interaction more convenient and satisfying consumers' pursuit of technology and intelligence; on the other hand, it also promotes the continuous expansion of in-vehicle display application scenarios, and comprehensively evolves towards a multi-screen interconnected ecosystem, from satisfying basic driving information display to immersive entertainment experience, to assisting intelligent driving and future office, learning, social networking, etc. With the evolution of multi-scenario applications in smart cockpits, the number of in-vehicle screens is also rising synchronously, bringing new value space to the in-vehicle display industry.
As a global leading in-vehicle display solution provider, Tianma has been keeping up with market trends, constantly breaking through technological boundaries, continuously optimizing the performance of in-vehicle display products, and enriching the in-vehicle product matrix. Today, a series of in-vehicle display products that are close to the needs of intelligent driving, including in-vehicle Mini-LED, HUD head-up display, electronic side mirrors, in-vehicle large screens, etc., have been delivered and launched, injecting momentum into the intelligent development of the automotive industry. In addition, Tianma also attaches great importance to driving safety. Its independently developed CIMUS perspective switching technology can effectively achieve non-interference between the information of the driver and the co-driver, thus playing an important role in ensuring safety during driving. Its intelligent hidden display can only observe the decorative texture integrated with the interior when the screen is off, allowing the driver to focus on safe driving. Once the touch or voice wakes up, the display screen emerges sensitively to meet the driver's and passengers' intelligent driving needs.
With the sweeping wave of intelligence and the outbreak of new energy vehicles, the automotive industry is undergoing a profound change. Tianma's in-vehicle display business has also taken advantage of this opportunity to usher in a broader development space. In 2024, Tianma's automotive electronics business for international head vehicle manufacturers has achieved large-scale delivery. While its share in the new energy market has also grown rapidly, its share in tier1 customers has also steadily increased, jointly driving the rapid growth of Tianma's in-vehicle display business, with revenue increasing by more than 40% year-on-year, showing a good trend of high-quality development as a whole, which will further consolidate its leading position in the field of in-vehicle displays and continue to create a smarter and safer driving experience for users.
