As flat panel displays become more prevalent in applications such as navigation, multi-functional in-console monitors and rear seat entertainment, shipments for the automotive segment are forecast to grow from 42 million units in 2011 to 62 million in 2015, according to DisplaySearch.

"The demand for automotive monitors continues to increase as displays play a growing role in an increasing number of applications for automobiles," said Hiroshi Hayase, DisplaySearch Vice President of Small/Medium Display Research. "With the growing production of hybrid and electric vehicles such as the Nissan Leaf, we forecast strong growth for this segment."

Displays used in vehicles are multi-functional, providing safety indications, energy information, entertainment and other conveniences while driving. In-car navigation, for instance, enables safer driving and saves time by allowing drivers to avoid traffic and accidents. And with increased performance requirements, including higher resolution and wider color gamut for maps and other information, TFT LCDs are gaining ground over passive matrix displays for console applications, DisplaySearch indicated.

Japan-based LCD manufacturers such as Sharp, Sony and Toshiba are all focused on the development of TFT LCDs for automotive monitors as they acknowledge the higher profit margin potential, DisplaySearch said. In this segment, Sharp led with a 24.5% share, followed by Sony with 18.9% and Toshiba 14.7%.