The recent report by Market Research Future (MRFR) states that the global automotive digital cockpit market is slated to attain a substantial market valuation at a moderate CAGR over the review period.
Drivers and Restraints
the introduction of an adaptive driver assistance system (ADAS) in automobiles for providing driver safety is pushing automotive OEMs to integrate digital cockpits with safety systems, which is driving the demand for innovative automotive cabins in cars. Ongoing trends such as hybridization electrification,, and introduction of connected or autonomous vehicles continuously creating opportunities for automotive Human-Machine Interface (HMI) software solutions providers to design and install completely digital instrument clusters along with high-resolution infotainment systems in automobiles. Moreover, automotive OEMs are focusing on providing modified digital cockpits with voice-control or steering-wheel-mounted controls and touchscreen, to operate the vehicle, thus providing ease in-vehicle functionality and effortless driving experience. The continuous advancements in vehicle safety and infotainment system features are poised to fuel the demand for digital cockpits, during the forecast period.
The global automotive digital cockpit market is analyzed on the basis of vehicle type, equipment, propulsion, and region.
Based on the equipment, the global automotive digital cockpit market has been segmented into the digital instrument cluster display type, advanced head unit, camera-based driver monitoring system, and head-up display (HUD). Camera-based driver monitoring is projected to be the fastest-growing segment, by value, of the automotive digital cockpit market from 2018 to 2025. The expansion of this segment can be accredited to the increasing trend of the human-machine interface inside the vehicle.
Based on the vehicle type, the global automotive digital cockpit market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger vehicle segment is poised to hold the major market share. The growing demand for connected car features in passenger vehicles and the advent of semi-autonomous and autonomous vehicles are poised to drive the market growth in this segment.
On the basis of propulsion, the global automotive digital cockpit market has been divided into a battery electric vehicle (BEV), internal combustion engine (ICE), hybrid electric vehicle (HEV), and plug-in hybrid electric vehicle (PHEV).
The geographical analysis of the global automotive digital cockpit market has been conducted in four major regions, namely the North America, Asia Pacific, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
Europe is projected to hold a major market share during the forecast period owing to the presence of significant automotive OEMs and tier-1 suppliers. These OEMs are continually working on enhancing the conventional automotive cockpit. On the other hand, Asia-Pacific is projected to witness substantial growth in the global market, as the consumer demand for superior user experience in the mid-priced and economy segment passenger cars is continuously increasing. The automotive digital cockpit market in the Rest of the World (RoW) is slated to grow at the fastest CAGR during the forecast period. Developing countries such as Brazil and Iran have observed increased consumer demand for superior user experience in vehicles. OEMs are indorsing digital cockpit functions as some of the most advanced structures. The increasing adoption of these features in the mid-priced and economy segment passenger cars is poised to propel the growth of the market for automotive digital cockpit in the RoW region over the review period.
The leading market players identified by MRFR in the global automotive digital cockpit market are Continental (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Faurecia (France), Panasonic Corporation (Japan), Aptiv (Ireland), HARMAN International (US), Nippon Seiki Co., Ltd (Japan), Pioneer Corporation (Japan), and Visteon Corporation (US). Visteon is anticipated to be a major market player in the automotive digital cockpit market. Visteon adopted the strategies of partnerships, new product development, and mergers & acquisitions to preserve its leading position in the automotive digital cockpit market. The company reinforced its product portfolio and increased its global presence by constructing consumer relationships. It has also increased its presence in developing markets such as China and India.