Automotive Digital Cockpit Market Overview:
Automotive Digital Cockpit Market is projected
to grow from USD 192.39 Billion in 2024 to USD 363.2 Billion by 2032, at a CAGR
of 8.26%
The automotive
digital cockpit market is garnering significant
traction. The introduction of innovative driver assistance systems (ADASs) that
demand the integration of digital cockpits with safety systems is a major
driving force. Moreover, the rising demand for advanced automotive cabins
escalates the digital cockpit market size. The scaling demand and AI evolutions
integrated with digital cockpit systems drive the market growth.
Key players active in the market are:
Robert
Bosch GmbH (Germany), Continental (Germany), Denso Corporation (Japan),
Panasonic Corporation (Japan), Faurecia (France), Aptiv (Ireland), Harman
International (US), Pioneer Corporation (Japan), Nippon Seiki Co., Ltd (Japan),
and Visteon Corporation (US), among others.
Get
Free Sample Report of Global Automotive Digital Cockpit Market
Automotive Digital Cockpit Competitive
Landscape:
The automotive digital cockpit market appears
highly competitive and fragmented, with several well-established players
forming a competitive landscape. These players incorporate approaches such as
strategic partnerships, mergers & acquisitions, expansion, collaboration,
and product/technology launch to gain a larger competitive share.
For instance, on Aug.16, 2021, Faurecia
(France), a leading automotive supplier, announced the acquisition of the
majority 60% equity stake in Hella, a lighting and electronics specialist. Thus,
the two companies would become the seventh-largest global automotive supplier,
combining their technologies and power. Faurecia also plans to acquire the
remaining equity share, which makes the 100% of Hella.
Rising Sales of Luxury & Premium Cars
Upend Market Demand
Digital cockpits are installed to gain reliable
safety information by accessing maps and media with instrumental clusters
installed within a vehicle. In addition, these cockpits enable the driver to
improve focus and attention on the road by utilizing HUD to access relevant
driving information in their direct field of vision.
Digital cockpits, along with a cluster of
digital instruments and infotainment systems, provide better safety features to
drivers, featuring one or more displays. Similarly, stringent government norms
for automotive safety features impact the adoption trends positively. Moreover,
technological advances and the increasing awareness for safety features
influence the growth of the market.
Technical Complexities Hamper Market
Growth
Despite vast prospects, the market still faces
some underlying setbacks, such as complex structures and the low efficiency of
optical systems. Also, the high costs associated with the installation and
maintenance of digital cockpits are some of the major factors impeding the
market growth.
Nevertheless, constant advancements in
infotainment systems would support market growth throughout the assessment
period. Advanced automobiles and luxury car industries worldwide define the
growing market landscape. Continually increasing demand for personalized
comfort features in a vehicle is expected to allow the market to register a
high growth rate.
Segmentation
The report is segmented into equipments,
vehicle types, propulsion, and regions. The equipment segment is sub-segmented
into head unit display (HUD), camera-based driver monitoring system, digital
instrument cluster, and others. The vehicle type segment is sub-segmented into
light commercial vehicles (LCV), heavy commercial vehicles (HCV),
and passenger cars (PC).
The propulsion segment is sub-segmented into
battery electric vehicle (BEV), hybrid electric vehicle (HEV), internal
combustion engine (ICE), plug-in hybrid electric vehicle (PHEV), and others.
The region segment is sub-segmented into Europe, Americas, Asia Pacific, and
the Rest-of-the-World.
Regional Analysis
Europe accounts for the largest automotive
digital cockpit market value globally. The region is the global hub for
luxuries, and high-end car manufacturers drive the automotive digital cockpit
market growth. Besides, the surging demand for luxury/ premium cars and SUVs
equipped with automotive digital cockpit systems substantiates the market
growth.
The vast presence of major automotive OEMs and
tier-1 suppliers positively impacts the automotive digital cockpit market
share. Additionally, OEMs constantly working on enhancing the conventional
cockpit fosters regional market growth. Germany accounts for the largest
automotive digital cockpit industry in the region, housing the world's largest
luxury car brands.
By combining their respective strengths,
Faurecia and Hella aim to further expand their market position, particularly in
the area of the cockpit of the future and key growth areas such as electric
mobility, automated driving, and vehicle interior design. The combined entity
would also further strengthen its position across customers and regions.
Read more:
No comments:
Post a Comment