What Has Been the Growth Trajectory of the Automotive Digital Cockpit Market?
The automotive digital cockpit market has seen considerable growth due to a variety of factors.
• The market size of the automotive digital cockpit has seen a fast-paced expansion in the past few years. The projected growth is from $26.09 billion in 2024, escalating to $28.84 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%.
The surge in growth during the historic period can be credited to factors such as consumer desire for in-car connectivity and entertainment, government policies, the need for competitive differentiation, and the globalization of the automotive industry.
What Is the Forecasted Market Size and Growth Rate for The Automotive Digital Cockpit Market?
The automotive digital cockpit market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations indicate a swift expansion of the automotive digital cockpit market in the forthcoming years. By 2029, it's projected to rise to $42.93 billion, with a compound annual growth rate (CAGR) of 10.5%.
The predicted surge in the forecast period could stem from elements such as concerns over cybersecurity, health and wellbeing monitoring, the emergence of mobility-as-a-service (MaaS), smart city integration, and sustainable mobility. Key trends within the forecast period include the incorporation of advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), bespoke and personalized features, digital assistants, voice recognition, biometric sensor integration, and the implementation of haptic feedback and touch controls.
What Are The Primary Growth Drivers In The Automotive Digital Cockpit Market?
The automotive digital cockpit market is predicted to expand, driven by the rising number of connected vehicles. Connected vehicles are vehicles equipped with an integrated connectivity system that facilitates internet accessibility and wireless connection to nearby devices. The central technology trend in enabling future experiences for connected vehicles is the automotive digital cockpit. For instance, the Insurance Institute for Highway Safety, a non-profit organization based in the U.S., published a report in December 2022 projecting that by 2025, 3.5 million autonomous vehicles will be traversing American roads. By 2030, they expect that number to reach 4.5 million. Hence, the growth of the automotive digital cockpit market is being fueled by the increasing prevalence of connected vehicles.
What Are The Main Segments Of The Global Automotive Digital Cockpit Market?
The automotive digital cockpit market covered in this report is segmented –
1) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
2) By Equipment: Digital Instrument Cluster, Driving Monitoring System, Heads-Up Display
3) By Display: LCD, TFT-LCD, OLED
Subsegments:
1) By Passenger Vehicle: Sedans, SUVs (Sport Utility Vehicles), Hatchbacks, Coupes, Electric Vehicles (EVs)
2) By Commercial Vehicle: Light Commercial Vehicles, Heavy Commercial Vehicles, Specialty Vehicles, Fleet Vehicles
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What Emerging Trends Are Influencing The Growth Of The Automotive Digital Cockpit Market?
Technological advancements are emerging as a significant trend in the automotive digital cockpit market. Key players in this market are working to maintain their influence by introducing innovative technologies such as 5G low latency. For example, Canalys, a tech market analysis company based in Singapore, launched a Digital Cockpit Analysis service in April 2022. Future vehicles are projected to be more autonomous, interconnected, electric, and reliant on software. The digital cockpit is being reinvented and restructured around the in-car experience of new vehicles, along with an automotive OS. This new system offers an all-digital, software-controlled dashboard inside vehicles to support both drivers and passengers with essential functions. The digital cockpit combines instrument clusters, ADAS, infotainment, pro-active AI, navigation, comfort controls, etc., using multi-modal interfaces on a singular platform.
Who Are the Key Players in the Automotive Digital Cockpit Market?
Major companies operating in the automotive digital cockpit market include:
• Volkswagen Group
• Bayerische Motoren Werke AG
• Daimler AG
• Robert Bosch GmbH
• Pioneer Corporation
• LG Electronics Inc.
• Panasonic Corporation
• ZF Friedrichshafen AG
• Denso Corporation
• Continental AG
• Hyundai Mobis Co. Ltd.
• Magna International Inc.
• NVIDIA Corporation
• Valeo S.A.
• Geely Automobile Holdings Limited
• Texas Instruments Incorporated
• Aptiv PLC
• Yazaki Corporation
• Renesas Electronics Corporation
• Harman International Industries Incorporated
• Alps Alpine Co. Ltd.
• Garmin Ltd.
• Visteon Corporation
• Altran Technologies SA
• Nippon Seiki Co. Ltd.
• Preh GmbH
• Gentex Corporation
• Faurecia Clarion Electronics
• Tata Elxsi
• Clarion Co. Ltd.
• Adient plc
• Sony Corporation
• BorgWarner Inc.
• HARMAN International Industries Incorporated
• E-Lead Electronic Co. Ltd.
• Tata Consultancy Services Limited
• SBD Automotive Limited
• Microchip Technology Inc.
• Toshiba Electronic Devices & Storage Corporation
• Ricardo plc
What Is The Most Dominant Region In The Automotive Digital Cockpit Market?
Asia-Pacific was the largest region in the automotive digital cockpit market in 2024. The regions covered in the automotive digital cockpit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
