July 21, 2024

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General For All

Industry Size, Current Trend, Competitive Landscape, Regional and Global Forecast 2027

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The demand for cars is likely to increase over the forecast period due to reasons such as rising global income levels, which allows individuals to spend more on products and services that give luxury and safety. This will further create the new demand for automotive digital cockpit as market is being driven by an increase in demand for technologically enhanced applications and devices that enable ease of use while driving, as well as better connectivity and visual graphics for navigation while driving. The device also improves passenger safety by alerting the driver to the possibility of a collision. While driving, the digital cockpit alerts the driver to any abnormalities in the engine, preventing a serious breakdown. Due to the continuously increasing number of connected automobiles worldwide, the automotive digital cockpit market has a large potential to develop over the projected period of 2021 to 2027. Furthermore, the automotive digital cockpit market is largely influenced by the increased adoption of IoT, telematics, and the expanding use of navigation, information, safety, and remote diagnostics in linked vehicles. Another trend boosting the growth of the automotive digital cockpit market is the rising demand for intelligent transportation systems and effective use of sophisticated technology. Additionally, rising electric car sales will aid the growth of the automotive digital cockpit market throughout the forecast period. The global sales of electric vehicles increased by 160% in the first half of 2021 from a year earlier to 2.6 million units.

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According to UnivDatos Market Insights (UMI)’ research reportAutomotive Digital Cockpit Market”, the market is expected to witness a CAGR growth of around 11% during the forecast period 2021-2027F. Global Automotive Digital Cockpit Market is experiencing significant growth due to the increasing Adaption of telematics, internet of things, safety and pollution sensors, navigation and infotainment system in vehicles.

Based on Equipment, the market is segmented into Digital Instrument Cluster, Advanced Head Unit, Head-Up Display (HUD) and Camera-Based Driver Monitoring System. The Camera-Based Driver Monitoring System segment generated revenue of USD XX billion in 2020. The increasing trend of human machine contact inside the car might be attributed to the rise of this segment. Driver weariness and drowsiness are responsible for several accidents. The driver’s condition is detected by a camera-based driver monitoring system, which alerts him or her to the drowsiness. As a result, the digital cockpit market is projected to be fueled by the expansion of camera-based driver monitoring.

Based on Vehicle Type, the market is segmented into Passenger and Commercial. The Passenger segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. The market for connected car features in passenger vehicles is predicted to rise due to rising demand and the introduction of semi-autonomous and autonomous vehicles. The desire by OEMs to provide a better user experience for their customers has fuelled demand for a digital cockpit. Car demand is predicted to increase during the projection period due to reasons such as rising global income levels, which allows individuals to spend more on products and services that give luxury and safety.

Based on EV Type, the market is segmented in BEV, HEV and PHEV. The BEV segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. All three divisions are likely to be driven by an increase in demand for vehicles with low carbon emissions and tight carbon emission standards imposed by environmental regulatory authorities. During the projection period, significant effort in the field of fuel cell technology is expected to drive the sectors. Other variables influencing the categories include the increased demand for zero-emission transportation and the decrease of carbon emission requirements.

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Asia Pacific to Grab Lion’s Share

During the projection period of 2021-2027, Asia Pacific is expected to be the largest market. The Asia-Pacific Automotive Digital Cockpit market is dominated by China, which is the region’s largest manufacturer and exporter of Automotive Digital Cockpits. The increased manufacturing and sales of passenger vehicles in the region are responsible for this expansion. The region’s mid-sized premium and luxury car segments have seen increased growth as a result of high demand for automobiles and rising income levels. China will lead passenger car production in 2020, with around 20 million units. 

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Automotive Digital Cockpit Market are includes Robert Bosch GmbH, Continental AG, Denso Corporation, Garmin Ltd., HARMAN International, Panasonic Corporation, Visteon Corporation, Faurecia SE, Nvidia Corporation and Pioneer Corporation etc.

§ In February 2021, Visteon Corporation, ECARX and Qualcomm Technologies, Inc. announced an initiative to develop intelligent cockpit solutions across conventional and electric vehicle applications

§ In May 2020, Continental and the Pioneer Corporation have signed a strategic cooperation agreement. Their integrated infotainment solution means both partners create a holistic user experience that is specially aimed at the Asian market. Continental integrates Pioneer’s entire infotainment subdomain into its high-performance computer for vehicle cockpits as part of the agreement

§ In July 2019, Faurecia announced a collaboration with Microsoft to create disruptive, connected and personalized services inside the cockpit of the future. Combining expertise in edge-computing, artificial intelligence, cloud-based services, cockpit systems integration and consumer insights, Faurecia targets to collaborate with Microsoft to develop digital services based on Microsoft Connected Vehicle Platform to reinvent the on-board experience for all occupants

“Global Automotive Digital Cockpit Marketprovides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.     By Equipment (Digital Instrument Cluster, Advanced Head Unit, Head-Up Display (HUD)
and Camera-Based Driver Monitoring System)

2.     By Vehicle (Passenger and Commercial)

3.     By EV Type (BEV, HEV and PHEV)

4.     By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)

5.     By Company (Robert Bosch GmbH, Continental AG, Denso Corporation, Garmin Ltd., HARMAN International, Panasonic Corporation, Visteon Corporation, Faurecia SE, Nvidia Corporation and Pioneer Corporation)

Key questions answered in the study:

1.     What are the current and future trends of the Global Automotive Digital Cockpit industry?

2.     How the industry has been evolving in terms of end-user demand and product category?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the Global Automotive Digital Cockpit industry?

5.     What is the customer orientation, purchase behavior, and expectations from the Global Automotive Digital Cockpit suppliers across various countries?

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