Press release
Global Automotive Cockpit Electronics Market will multiply at an impressive CAGR of 8.7% by 2024 & Top Key Players Robert Bosch GmbH, Visteon Corporation, Alpine Electronics Inc., Panasonic Corporation, Continental AG, Garmin Ltd., Denso Corporation.
The automotive cockpit electronics market finds its applications in entertainment system, passenger comfort, active safety and driver assistance among other applications and is segmented by vehicle type into economic passenger car, mid-priced passenger car and luxury passenger car. Among these segments, the luxury passenger car is anticipated to dominate the market owing to the availability of advanced features in it. Further, the head up display in product type is expected to dominate the automotive cockpit electronics market owing to it safety features and its spiked demand in vehicles. In addition to that, better efficiency, high quality and integration of cockpit connected devices and smart devices are anticipated to drive the growth of the automotive cockpit electronics market during the forecast period.
The Global Automotive Cockpit Electronics Market was valued at USD 33.9 Billion in 2016 and is expected to reach significant market valuation by the end of 2024 by witnessing compound annual growth rate of 8.7% over the forecast period. Factors such as rising trend of integration of automotive with smart devices and convenience features are expected to foster the growth of the market. Further, demand from consumers for better user-experience is anticipated to drive the market’s growth with notable revenue by the end of forecast period.
In the regional segment, North America held the largest market share in 2016 and is anticipated to behold its positive growth over the forecast period which can be attributed to rising disposable income and increasing sales of automotive in the region. After North America, Europe is expected to hold second position in automotive cockpit electronics market owing to presence of major automotive companies in the region. Further, Asia Pacific automotive cockpit electronics market is anticipated to grow with highest pace by the end of 2024.
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Safety Regulations & Technological Advancements to Boom the Market
The growth of the market is rising on the back of increasing disposable income, growing sales of automotive combined with growing safety concerns among customers. Additionally, technological advancements and stringent government regulations for the safety of passengers are expected to benefit the expansion of the market around the globe. However, high cost of automotive cockpit electronics combined with its high maintenance cost is likely to inhibit the growth of the automotive cockpit electronics market in the near future.
The report titled “Automotive Cockpit Electronics Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the automotive cockpit electronics market in terms of market segmentation by product type, by application, by vehicle and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the automotive cockpit electronics market which includes company profiling of Robert Bosch GmbH, Visteon Corporation, Alpine Electronics Inc., Panasonic Corporation, Continental AG, Garmin Ltd., Denso Corporation, Harman International Industries Inc., Clarion Company Ltd. and Delphi Automotive PLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the automotive cockpit electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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