The "Automotive Digital Cockpit Market - Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Digital Cockpit Market is anticipated to register a CAGR of about 13% during the forecast period (2020-2025).
The major factor that will drive the growth in automotive digital cockpit market are adaption of telematics, internet of things, safety and pollution sensors, navigation and infotainment system.
The luxury car segment provides high level of comfort and convenience to the end user and the major players in the luxury car segment are implementing digital cockpits in their automobiles to increase the demand as the target audience in the segment expects their vehicle to be equipped with latest comfort and safety features. The luxury car segment is expected to grow with a rate of 6% during the forecast period and this will drive the demand in the market.
The advancement of technology, connected cars, autonomous vehicles will be one of the future technologies, digital cockpit will be very helpful in capturing the details of all the connected cars and autonomous vehicles while driving on the roads, to avoid collisions and accidents. The automotive cockpit system includes human machine interface applications, infotainment platforms and wireless connectivity in vehicle which enhances the driving experience.
With the inclusion of digital cockpit systems, the overall cost of vehicles is expected to rise substantially. Digital cockpit is a digital screen in place of the traditional instrumental cluster. Basically, it is used to give digital experience for the car users through multiple screens, voice assistant and other means of input. In price sensitive regions like India where the demand of vehicles is high, digital cockpit systems are not expected to be very popular among end users.
Key Market Trends
Passenger Cars Expected to be the Largest Market
The demand of cars is expected to rise during the forecast period owing to the factors such as rise in income level of the people around the world, this is allowing them to spend more on devices and services that provides luxury and safety. In India, the sales of luxury cars were around 40,000 in the year 2018. The rise in demand for applications and devices that are technologically advanced and provides ease while driving and better connectivity and visual graphics for navigation during driving are driving the market. The system also provides better safety to the passenger as it notifies the driver of any possible collision. The digital cockpit provides indication while driving regarding any abnormality in engine which avoids any major breakdown in the engine.
In April 2019, Samsung Electronics revealed the Digital Cockpit 2019, a revamped version of the platform incorporating insight from research and consumer feedback.
Asia Pacific Expected to be the Largest Market Over the Forecast Period
With the majority of population resident in the region about 65%, the vehicle production in the region is expected to be the highest in the world, because of the high demand and increasing income levels of the people living in the region, which enhance the demand in mid-sized premium and luxury car segment in the region.
The premium car makers, such as Audi, Mercedes-Benz, BMW, Lexus, and Volvo have always maintained positive growth in the Chinese luxury car market. In 2019, luxury cars in the country accounted for more than 9% of the overall passenger cars sales. There are many sensors which includes the digital display cockpit systems. Hence, during the forecast period it is expected that the Asia pacific region will be the largest growing market. Many OEMs are present in the region which are implementing latest technology to attract new customers and forming strategic partnership with major players in the market to gain strategic advantage.
In October 2019, Audi introduced A6 model in the Indian market with its signature Audi virtual cockpit with full HD resolution and controls placed on the steering wheel as well. The car comes with a touch screen with a 10-inch display, audio system and wireless charging of smartphone. The infotainment system features integration for both Apple and Android smartphones.
The Automotive Digital Cockpit market is moderately fragmented, with several players accounting for significant amounts of shares in the market. Some of the prominent companies in the Automotive Digital Cockpit market are Robert Bosch, Denso, Visteon, Aptiv, Hyundai Mobis and others. The major players are investing heavily in R&D of products and incorporation of new technologies
In July 2019, Faurecia announced a collaboration with Microsoft to create disruptive, connected and personalized services inside the Cockpit. This type of technology will be one of its kind and premium car manufacturers will want their cars to have such technology which will enhance their customers' driving experience.
In January 2020, Visteon introduced next-generation digital cockpit technology platforms at CES 2020. This system includes infotainment solution for connected cars which is an Android infotainment solution for seamless connectivity including seamless integration with Android Auto and Apple CarPlay technologies for smartphone projection.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Equipment Type
5.1.1 Heads-up Display
5.1.2 Camera Based Driving Monitoring Systme
5.1.3 Digital Instruments Cluster
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3.1 North America
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Robert Bosch GmbH
6.2.2 DENSO Corporation
6.2.3 Visteon Corporation
6.2.4 Panasonic Corporation
6.2.5 Nippon Seiki Co. Ltd.
6.2.6 Aptiv PLC
6.2.7 Hyundai Mobis
6.2.9 Harman International Industries, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200814005200/en/
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