Automotive Digital Cockpit Market Size To Exceed USD 36.1 Billion By 2028Posted by rahul nikade on October 3rd, 2022 Automotive Digital Cockpit Industry Overview The global automotive digital cockpit market size was valued at USD 19.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028. The Covid-19 pandemic has affected the overall automotive industry, leading to a subsequent decline in the growth of the market as a result of low automotive sales and new requirements. However, the increased adoption of in-vehicle telematics, infotainment system, safety and pollution sensors, navigation, and the internet of things is a prominent factor driving the demand for automotive digital cockpit solutions. Furthermore, the growing demand for improved comfort, safety, and convenience in vehicles, especially in emerging and developed economies, is anticipated to boost the growth of the market over the forecast period. The growing luxury and high-end car segment and rising use of autonomous vehicle technology are also likely to contribute to market growth. Gather more insights about the market drivers, restrains and growth of the Global Automotive Digital Cockpit Market The market for the automotive digital cockpit is growing at a rapid rate. With the shifting mobility market, digital cockpit systems are evolving to offer vehicle occupants new functionalities and safety capabilities along with improved entertainment experience options. A digital cockpit solution in an automobile consists of digital interfaces that allow OEMs to overcome the limitations of an analog instrument cluster. It offers a digital experience in a car covering digital assistants, multiple screens, and various input means. With digital interfaces, automotive OEMs and suppliers have the freedom to design interfaces that deliver a more appropriate illustration of real-time data. The digital interfaces also extend the scope to support multiple safety-critical features, including ADAS. Technologies such as advanced infotainment systems, heads-up displays, gesture control systems, central controllers, telematics, and steering-mounted controls are used in passenger vehicles on a large scale for luxury, comfort, safety, and security benefits. Governments in several countries globally are putting in place regulations pertaining to vehicle security and safety. This has prompted the demand for automotive electronic devices, including digital cockpits, across the globe. The demand for connected infotainment solutions and digital cockpits is increasing in the automotive market. As per estimates, over 90% of passenger cars on the road will be connected to the internet with the help of 3G/4G connectivity by the end of 2022. The rising usage and acceptance of Apple’s CarPlay and Google’s Android Auto standards is a trend that is expected to continue as technology advances. Moreover, the popularity of digital cockpits is expected to gain traction over the forecast period, creating favorable opportunities for market growth. Major car manufacturers are coming up with more sophisticated digital cockpit solutions. The Volkswagen Group and Audi provide virtual cockpits in models such as Audi TT, Audi A6, RS 6 Avant, RS Q8, and Lamborghini Huracan. BMW provides its customers with a Digital Live system, whereas Mercedes provides MBUX. The COVID-19 pandemic has changed the business dynamics in 2020, which is expected to impact the overall business scenario over the next few years. Lockdowns implemented in various parts of the world to curb the spread of the virus have led to disruptions in the supply chains and the temporary ceasing of production at several production facilities. As a result, shipments got delayed and production volumes were plummeted, taking a severe toll on automotive production. The dwindling demand for commercial and passenger vehicles has had a subsequent impact on the market as well. The overall automotive production volumes have declined globally on a year-on-year basis, mainly due to the decline in production volumes in Europe and North America, among other regions. Global car sales have dropped by about 33.3% over the year from January 2020 to April 2020, with around 9 million fewer cars sold as compared to January 2019 to April 2019. In the U.S., the sales of passenger cars dropped roughly by 50% year-on-year as compared to 2019. Browse through Grand View Research's Automotive & Transportation Industry Research Reports.
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)
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)
Market Share Insights
Key Companies profiled: Some of the prominent players in the automotive digital cockpit market include:
Order a free sample PDF of the Automotive Digital Cockpit Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Web: https://www.grandviewresearch.com
Like it? Share it! More by this author |