Press release
Automotive Digital Cockpit Market 2020 Size, Share, Growth Analysis, Industry Trends, Key Players - Robert Bosch GmbH, Continental, Denso Corporation, Panasonic Corporation
Automotive Digital Cockpit Market
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Key Boosters and Main Challenges
The COVID-19 outbreak has landed the automotive industry in a soup, with major companies shifting their manufacturing from China to other countries such as India. The global pandemic led to a strict lockdown across countries, following which manufacturing companies were forced to close down and curfews were imposed. This weakened the production level of several auto products, which also includes digital cockpits. The COVID-19 impact on the industry has been such that the consumer behavior has changed immensely, as they are forced to buy only essential products.
However, since digital cockpits ensure seamless connection between the application system and the vehicle, they are observing sustained demand among drivers that want to save time and boost their connected lifestyle in the vehicle. Further, autonomous vehicles have been quite useful in the battle against SARS-CoV-2, by transporting food as well as urgent medical supplies to infected locations, medical professionals. Autonomous vehicles have also been helping in disinfecting healthcare facilities and hospitals to control the spread of the novel coronavirus.
The emerging trends of hybridization, connected or autonomous vehicles and electrification can give rise to lucrative opportunities for the HMI software providers to develop and equip vehicles with completely digital instrument clusters coupled with top-resolution infotainment systems. Automotive OEMs are increasingly coming up with customized digital cockpits with voice-control, steering-wheel-mounted controls, touchscreen and various infotainment system features in vehicles, which facilitate better vehicle functionality as well as effortless driving experience. To cite a reference, in July 2020, Mercedes added new features to its MBUX infotainment system in the new S-class, which includes a 3D instrument cluster. The company says that this technological innovation was the outcome of the rising demand of the drivers for a more secure way of driving.
Impact of COVID-19 on Automotive Digital Cockpit Market
Market Segmentation
The digital cockpit market in the automotive industry has been considered for equipment, vehicle type and propulsion.
The market segments depending on equipment are digital instrument cluster display type, advanced head unit, head-up display (HUD) and camera-based driver monitoring system.
The primary vehicle types considered are light commercial vehicle, heavy commercial vehicle and passenger car.
Propulsion-wise, the market sections are battery electric vehicle (BEV), internal combustion engine (ICE), plug-in hybrid electric vehicle (PHEV) as well as hybrid electric vehicle (HEV).
Regional Study
The regional study of the automotive digital cockpit market throws light on Europe, APAC/Asia Pacific, North America, and RoW/the Rest of the World.
MRFR anticipates Europe to emerge as the clear winner in the global market, as the region holds a massive number of leading automotive OEMs along with tier-1 suppliers. Most of these OEMs are continuously striving to enhance the features of traditional automotive digital cockpit, while adopting IOT and telematics for better functioning. The escalating use of information, safety, navigation and remote diagnostics within connected vehicles is also inducing significant growth in the automotive digital cockpit market in Europe. The accelerated consumption of intelligent transportation systems and the rising use of innovative technologies in connected vehicles can also be favorable for the European market.
The APAC market is set to boom at a significant pace in the near future, thanks to the widespread demand for better driver experience in economy and mid-priced passenger cars. Being the biggest consumer and producer of vehicles, India and China offer attractive growth prospects to the automotive digital cockpit market.
Top Market Players
The top market players listed in the MRFR report are Aptiv (Ireland), Faurecia (France), Visteon Corporation (US), Panasonic Corporation (Japan), HARMAN International (US), Nippon Seiki Co., Ltd (Japan), Robert Bosch GmbH (Germany), Pioneer Corporation (Japan), Continental (Germany), Denso Corporation (Japan), to mention a few.
Latest News
June 2020
Cerence Inc., an AI-based vendor entered a partnership with e.solutions GmbH for the development of a highly advanced automotive digital cockpit. The speech recognition technology of Cerence has been used in the latest car model, which can be main communication point that provides access to the digital assistants belonging to e.solutions.
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Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
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