AutomotiveDigital Cockpit Market:
Automotivedigital cockpits are installed to provide reliable safety information to thedriver by accessing maps and media with instrumental clusters installed withina vehicle. In addition, digital cockpits enable drivers to improve their focusand attention on the road by utilizing HUD to display relevant drivinginformation in their direct field of vision.
The automotivedigital cockpit market has been growing pervasively. The market growthattributes to the introduction of innovative adaptive driver assistance systems(ADASs) that demand integration of digital cockpits with safety systems.
Digitalcockpits, paired with a cluster of digital instruments and infotainmentsystems, provide better safety features to drivers, featuring one or moredisplays.
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Moreover, thedemand for advanced automotive cabins escalates market growth. According toMarket Research Future (MRFR), the global automotive digital cockpit market isanticipated to grow at a 9.5% CAGR during the review period (2019 - 2025). Theincreasing awareness for safety features among consumers and advancements intechnology 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 trafficconcerns, have led to increasing the demand for head-up displays. The emergenceof augmented reality head-up displays influence market growth, making vehicleseven more comfortable and safer. The increasing demand for HUDs to improve theconsumer experience in vehicles to ensure safety boosts market growth.
Conversely,complex structures and low efficiency of optical systems are the major factorsprojected to impede the market growth. Also, the high cost associated with theinstallment and maintenance of digital cockpits is hindering the growth of themarket. Nevertheless, constant advancements in infotainment system featureswould support market growth.
AutomotiveDigital Cockpit Market - Segments
The report issegmented into four dynamics;
By Equipment : Advanced Head Unit Display (HUD), DigitalInstrument Cluster, Camera-Based Driver Monitoring System, and others.
By Vehicle Type:Passenger Car (PC), Light Commercial Vehicle (LCV), and Heavy CommercialVehicle (HCV).
By Propulsion : Battery Electric Vehicle (BEV), InternalCombustion Engine (ICE), Hybrid Electric Vehicle (HEV), Plug-In Hybrid ElectricVehicle (PHEV), and others.
By Regions : Americas, Europe,Asia Pacific, and the Rest-of-the-World.
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GlobalAutomotive Digital Cockpit Market -Regional Analysis
Europe dominatesthe global automotive digital cockpit market. The region is the global hub forexpensive and high-end car manufacturers. The largest market share attributesto the augmenting demand for luxury or premium cars and SUV's equipped withautomotive digital cockpit systems. Besides, the presence of major automotiveOEMs and tier-1 suppliers drive the growth of the regional market.
Moreover,constant developments in OEMs working on enhancing the conventional automotivecockpit foster the regional market growth. Germany houses the world's largestluxury car brands, providing a considerable impetus to the regional marketdevelopment. The European automotive digital cockpit market is projected toretain its dominance throughout the assessment period.
The Asia Pacificregion stands second in the global automotive digital cockpit market. Thedemand for automotive digital cockpits in the region is gradually growing withthe strengthening economy in India, China, and Southeast Asian countries.Additionally, the market is driven by the continual demand for advanced userexperience in luxury cars and the mid-priced and economy segment passengercars.
Technologicaladvances in autonomous driving, cockpit platform, and digital interfaces,alongside the increasing number of OEMs and aftermarket parts companies, boostthe regional market growth. Also,improving socio-economic conditions in the region propel the adoption ofautomotive digital cockpits. Furthermore, rapidly shifting digital cockpit manufacturing plants toemerging economies of the region provide a huge impetus to the market growth.
North America isemerging as a promising market for automotive digital cockpits globally. Theregion is a promising market for luxury vehicles. Factors such as stringentsafety norms and increasing awareness about the safety systems installed in anautomotive system influence the regional market growth.
Vasttechnological upgrades and the constant rise in the automotive industry impactthe regional market growth positively. With a more extensive fleet of premiumand luxury passenger cars, the US accounts for a substantial share in theregional market. The North American automobile digital cockpit market isestimated to create a notable revenue pocket.
AutomotiveDigital Cockpit Market - CompetitiveAnalysis
Highlycompetitive, the automotive digital cockpit market appears to be fragmented,characterized by the presence of several major well-established players. Theseplayers 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 expansionplans.
Major Players
Key playersleading the global automotive digital cockpit market 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 SeikiCo., Ltd (Japan), among others.
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