“Increasing number of connected cars, hardware consolidation, and intervention of innovative technologies for advanced user interface (UI) to fuel the demand for the automotive digital cockpit market”
The global automotive digital cockpit market is estimated to grow at a CAGR of 13.59% during the forecast period, from USD 14.7 billion in 2018 to USD 35.9 billion by 2025. The intervention of innovative technologies for advanced user interface (UI) and rising demand for electric vehicles are driving the market for automotive digital cockpit. The increasing number of connected cars and hardware consolidation is also driving the growth of the automotive digital cockpit market. Moreover, technological advancements in autonomous vehicles and connected vehicles are expected to create opportunities for the automotive digital cockpit market in the coming years. However, the rising trend of BYOD and cybersecurity threats to domain controllers can restrain the growth of the automotive digital cockpit market. The consolidation of ECUs and the high cost of the advanced head-up display also pose challenges for the automotive digital cockpit market.
“Camera-based driver monitoring segment to grow at a significant rate during the forecast period”
Camera-based driver monitoring is estimated to be the fastest growing segment, by value, of the automotive digital cockpit market from 2018 to 2025. The growth of this segment can be attributed to the increasing trend of human machine interface inside the vehicle. A number of accidents occur due to driver fatigue and drowsiness. Camera-based driver monitoring system detects the driver’s condition and signals him/her about the drowsiness. Thus, the growth of camera-based driver monitoring is likely to fuel the digital cockpit market.
“The passenger car segment is estimated to be the largest market, in terms of value, in the automotive digital cockpit market”
The passenger vehicle segment is estimated to hold the largest market share. The rising demand for connected car features in a passenger vehicle and the advent of semi-autonomous and autonomous vehicles are expected to drive the market growth in this segment. OEM’s push towards offering an enhanced user experience to their customer is boosting the demand for a digital cockpit. In addition, OEMs now offer digital cockpit features in economy and mid-sized vehicles as well. Increasing production of economy and mid-sized vehicles is likely to increase the market for automotive digital cockpit.
“Rest of the World is estimated to be the fastest growing market for automotive digital cockpit during the forecast period”
The Rest of the World automotive digital cockpit market is estimated to grow at the highest CAGR during the forecast period. Developing countries such as Brazil and Iran have witnessed increased consumer demand for advanced user experience in vehicles. OEMs are promoting digital cockpit functions as some of the most advanced features. The increasing adoption of these features in mid-priced and economy segment passenger cars is expected to fuel the growth of the automotive digital cockpit market in the RoW region.
The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs. The break-up of the primaries is as follows-
- By Company Type- Tier 1- 55%, Tier 2- 25%, Tier 3 - 20%
- By Designation- C level- 48%, Director level- 28%, Others- 24%
- By Region- North America- 23%, Europe- 23%, Asia Pacific- 46%, RoW-8%
Major players profiled in the report are-
- Visteon (US)
- Robert Bosch (Germany)
- Continental (Germany)
- Denso (Japan)
- Panasonic (Japan)
- Magneti Marelli (Italy)
- Hyundai Mobis (South Korea)
- Garmin (US)
- Nippon Seiki (Japan)
- Pioneer (Japan)
- Faurecia (France)
- Aptiv (Ireland)
- The report segments the automotive digital cockpit market, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and the Rest of the World), equipment (Digital Instrument Cluster, Advanced Head Unit, Head-Up Display, Camera-Based Driver Monitoring System), vehicle type and class (passenger vehicle and commercial vehicle), and electric vehicle type (BEV, HEV, and PHEV).
- The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive digital cockpit market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons To Buy the Report-
- The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share.
- Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.
The report provides insights into the following points-
- Market Penetration- The report offers comprehensive information about the automotive digital cockpit market and the top players in the market.
- Product Development/Innovation- The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive digital cockpit market.
- Market Development- The report offers comprehensive information about the automotive digital cockpit market. The report analyzes the automotive digital cockpit market across regions and provides comprehensive information about lucrative emerging markets.
- Market Diversification- The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive digital cockpit market.