Automotive Digital Cockpit Industry Growth:
The global Automotive Digital Cockpit Market is estimated to witness a 9.5% CAGR during the forecast period.
Automotive digital cockpits are installed to provide reliable safety information to the driver by accessing maps and media with instrumental clusters installed within a vehicle. In addition, digital cockpits enable drivers to improve their focus and attention on the road by utilizing HUD to display relevant driving information in their direct field of vision.
The automotive digital cockpit market has been growing pervasively. The market growth attributes to the introduction of innovative adaptive driver assistance systems (ADASs) that demand integration of digital cockpits with safety systems.
Digital cockpits, paired with a cluster of digital instruments and infotainment systems, provide better safety features to drivers, featuring one or more displays.
Major Players
Key players leading the global automotive digital cockpit market growth include Continental (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Faurecia (France), Panasonic Corporation (Japan), Aptiv (Ireland), Pioneer Corporation (Japan), Harman International (US), Visteon Corporation (US), and Nippon Seiki Co., Ltd (Japan), among others.
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Moreover, the demand for advanced automotive cabins escalates market growth. According to Market Research Future (MRFR), the global automotive digital cockpit market size is anticipated to grow at a 9.5% CAGR during the review period (2019 – 2025). The increasing awareness for safety features among consumers and advancements in technology act as a major driving force for the growth of the market.
Additionally, the rising sales of luxury and premium cars, along with the increase in traffic concerns, have led to increasing the demand for head-up displays. The emergence of augmented reality head-up displays influence market growth, making vehicles even more comfortable and safer. The increasing demand for HUDs to improve the consumer experience in vehicles to ensure safety boosts market growth.
Conversely, complex structures and low efficiency of optical systems are the major factors projected to impede the market growth. Also, the high cost associated with the installment and maintenance of digital cockpits is hindering the growth of the market. Nevertheless, constant advancements in infotainment system features would support market growth.
Automotive Digital Cockpit Market – Segments
The report is segmented into four dynamics;
By Equipment : Advanced Head Unit Display (HUD), Digital Instrument Cluster, Camera-Based Driver Monitoring System, and others.
By Vehicle Type: Passenger Car (PC), Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV).
By Propulsion : Battery Electric Vehicle (BEV), Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
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Global Automotive Digital Cockpit Market – Regional Analysis
Europe dominates the global automotive digital cockpit market. The region is the global hub for expensive and high-end car manufacturers. The largest market share attributes to the augmenting demand for luxury or premium cars and SUV’s equipped with automotive digital cockpit systems. Besides, the presence of major automotive OEMs and tier-1 suppliers drive the growth of the regional market.
Moreover, constant developments in OEMs working on enhancing the conventional automotive cockpit foster the regional market growth. Germany houses the world’s largest luxury car brands, providing a considerable impetus to the regional market development. The European automotive digital cockpit market is projected to retain its dominance throughout the assessment period.
The Asia Pacific region stands second in the global automotive digital cockpit market share. The demand for automotive digital cockpits in the region is gradually growing with the strengthening economy in India, China, and Southeast Asian countries. Additionally, the market is driven by the continual demand for advanced user experience in luxury cars and the mid-priced and economy segment passenger cars.
Technological advances in autonomous driving, cockpit platform, and digital interfaces, alongside the increasing number of OEMs and aftermarket parts companies, boost the regional market growth. Also, improving socio-economic conditions in the region propel the adoption of automotive digital cockpits. Furthermore, rapidly shifting digital cockpit manufacturing plants to emerging economies of the region provide a huge impetus to the market growth.
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North America is emerging as a promising market for automotive digital cockpits globally. The region is a promising market for luxury vehicles. Factors such as stringent safety norms and increasing awareness about the safety systems installed in an automotive system influence the regional market growth.
Vast technological upgrades and the constant rise in the automotive industry impact the regional market growth positively. With a more extensive fleet of premium and luxury passenger cars, the US accounts for a substantial share in the regional market. The North American automobile digital cockpit market is estimated to create a notable revenue pocket.
Automotive Digital Cockpit Market – Competitive Analysis
Highly competitive, the automotive digital cockpit market appears to be fragmented, characterized by the presence of several major well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, technology launch, and expansion to gain a competitive edge. Strategic alliances between these players support the growth and expansion plans.
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