The new report by Expert Market Research titled, ‘Global Automotive Digital Cockpit Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive digital cockpit market, assessing the market based on its segments such as equipments, display technologies, vehicle types, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 11.8%
The global automotive digital cockpit market is likely to be driven by demand for superior driving experience, AI-powered high-performance computing, enhanced system-on-chip (SoC) architecture with visualisation, scalability with a unified software framework, improved safety, smarter navigation, rich visual experiences, and superior audio. Factors such as the growing production of automobiles, rising sales of electric vehicles, demand for advanced user experience in vehicles, and growing concerns over driver and passenger safety are further driving the market growth.
The automotive digital cockpit market is benefiting from OEMs’ promotion of digital cockpit functionalities as some of the most advanced features and their adoption in the mid-priced and economy segment passenger cars. The rising number of connected vehicles and technological advancements in-vehicle human-machine interface, along with growth in awareness and demand for enhanced personalised user experience and convenience features, is anticipated to propel the growth of the automotive digital cockpit industry.
Industry Definition and Major Segments
A digital cockpit is a set of digital instruments in a vehicle that includes an infotainment system with one or two digital screens and knobs that provide the driver with trustworthy safety information. The digital cockpit also provides a driver with access to media and maps via instrumental clusters, HMI applications, and wireless connectivity in the vehicle, enhancing the driver’s attention, focus, and driving experience.
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By equipment, the market is segmented into:
• Camera Based Driver Monitoring System
• Head-Up Display (HUD)
• Advanced Head Unit
• Digital Instrument Cluster
• Others
Based on display technology, the market is segmented into:
• LCD
• OLED
• TFT-LCD
By vehicle type, the market is classified into:
• Passenger Cars
• Commercial Vehicles
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The emerging economies, increase in disposable income of middle-class group, growth in popularity of electric vehicles, and increase in the introduction of the holographic display are providing opportunities for the market’s growth. Over the forecast period, the global market is expected to increase due to the rising demand for improved comfort, safety, and convenience in automobiles, particularly in emerging and developed nations.
The developing luxury and high-end automotive segment and increased adoption of autonomous vehicle technologies are also expected to contribute to market expansion. Several governments around the world are enacting legislation relating to vehicle security and safety. This has sparked a global demand for electronic vehicle equipment, such as digital cockpits. The growing demand for commercial vehicles, and automotive manufacturers’ increasing focus on adding vehicle-to-vehicle communications in cars for fleet management, are projected to drive demand for automotive digital cockpit solutions, propelling the market forward.
Key Market Players
The major players in the market are Pioneer Corporation, Harman International Industries, Incorporated, Continental AG, Denso Corporation, Garmin Ltd., Robert Bosch GmbH, Visteon Corporation, and Japan Display, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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