Automotive Digital Cockpit Market Growth & Trends
The global automotive digital cockpit market size is expected to reach USD 36.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.8% from 2021 to 2028. The rising demand for automotive cockpit electronics, autonomous vehicle technology, and advanced safety features such as advanced driver assistance systems is expected to drive market growth. The changing consumer buying behavior and increasing demand for enhanced in-vehicle experience, coupled with the global growth of the high-end, premium, and luxury car segments, are also expected to fuel the growth of the market.
The surge in demand for vehicle connectivity and navigation system in the automotive sector has led to the increasing usage of visualization technology. Modern-day cars are highly influenced by unique consumer demands and advancements in digital technologies. The automotive industry is focused on offering more personalized experiences to drivers and vehicle occupants. Moreover, companies are developing innovative solutions to ensure seamless connectivity between the vehicle and external devices. The integration of vehicle systems can be considered as the most significant development. The digital cockpit architecture has become more capable and robust owing to the integration of the Advanced Driver Assistance Systems (ADAS) functionality for enhanced safety and security and cloud-based services.
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In the wake of the coronavirus pandemic, lockdowns and social distancing norms have been implemented globally. The overall automotive production volumes have declined globally on a year-on-year basis, mainly due to decreased production volumes in North America and Europe, among other regions. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), automobile production globally dropped by more than 15%, i.e., 77.6 million units in 2020 compared to 91.7 million units in 2019. However, as restrictions ease in various economies, the market can expect a period of respite for the short-term owing to the increased demand for passenger cars from the middle-class population, in turn, is increasing the demand for automotive digital cockpit over the forecast period.
Automotive Digital Cockpit Market Report Highlights
The head-up display segment is expected to register the highest CAGR of over 15.0% from 2021 to 2028 owing to the integration of augmented reality for enhanced safety and driving experience
The LCD-TFT segment dominated the market in 2020 and is anticipated to generate revenue over USD 19.0 billion by the end of the forecast period, owing to the temperature and durability standards provided by LCD-TFT displays
The passenger car segment accounted for the largest revenue share of around 80.0% of the overall market in 2020. The increasing demand for connected car features in passenger vehicles and the onset of autonomous vehicles is expected to drive the segment
In Asia Pacific, the market is accounted for the largest revenue share in 2020. This growth can be attributed to the increased production and sales of passenger vehicles in the region
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Automotive Digital Cockpit Market Segmentation
Grand View Research has segmented the global automotive digital cockpit market on the basis of equipment, display technology, vehicle type, and region:
Automotive Digital Cockpit Equipment Outlook (Volume, Units; Revenue, USD Billion, 2016 – 2028)
Digital Instrument Cluster
Driving Monitoring System
Head-up Display (HUD)
Automotive Digital Cockpit Display Technology Outlook (Volume, Units; Revenue, USD Billion, 2016 – 2028)
Automotive Digital Cockpit Vehicle Type Outlook (Volume, Units; Revenue, USD Billion, 2016 – 2028)
Automotive Digital Cockpit Regional Outlook (Volume, Units; Revenue, USD Billion, 2016 – 2028)
Middle East and Africa
Key Players of Automotive Digital Cockpit Market
Panasonic Corporation (Panasonic Automotive Systems Europe GmbH)
Robert Bosch GmbH
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