Press release
Automotive Cockpit Electronics Market to Record Robust CAGR During 2030
The automotive cockpit electronics market is being driven by the ever-increasing demand for comfort features and improved safety in the automobiles. Plus, a broad spectrum of sensors is being introduced with amenities for modern-day automotive control. As such, upgraded vehicle infotainment systems and connected cars are being emphasized on by market players. They are inclusive of Delphi Automotive Plc, Continental AG, Clarion Company Ltd., Visteon Corporation, Robert Bosch GmbH, DENSO Corporation, and Harman International Industries, Inc.As per PMR, the global automotive cockpit electronics market will witness a stupendous CAGR between 2020 and 2030.
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What are the Key Takeaways from automotive cockpit electronics market?
Head-up displays hold the largest market share with respect to value and volume due to an extensive demand for luxury and premium passenger cars.
By end-market, luxury passenger cars are expected to be the quickest growing sector. As stated above, hoards of OEMs are onto the mode of inclusion of windshield head-up display and high-end infotainment in luxury passenger cars.
By type of fuel, the BEVs (battery electric vehicles) are expected to grow at the fastest rate.
North America and Europe dominate the market. However, in future, it would be the Asia-Pacific taking the pie. This could be attributed to the rising awareness amongst the people regarding air pollution. Also, companies in countries like Japan, Korea, China, and India are looking forward to make better inroads to automotive cockpit electronics market.
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How is the automotive cockpit electronics market structured?
The key players in the automotive cockpit electronics market include Continental AG, Visteon Corporation, Robert Bosch GmbH, Harman International, and Delphi Automotive PLC. As of now, automotive OEMs like General Motors, Volkswagen AG, and Daimler AG employ automotive cockpit electronics.
The players mentioned above are onto the inorganic expansion mode to strengthen their foothold. At the same time, on the organic front, Harman Automotive has its constellation of connected vehicle solutions as well as services for motor vehicle and automotive industries.
Covid-19 Effect on Automotive Cockpit Electronics market
The outbreak of Covid-19 has left almost the entire world in a fix, and automotive cockpit electronics market is no exception. With partial/total lockdowns inflicted all across, the OEMs have curbed the functioning of automotive cockpit electronics as the end-users are also not into full operation. This scenario is likely to continue till mid-2021 (till Covid-19 vaccine would probably be in place).
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Analyst’s Viewpoint
“The global automotive cockpit electronics market is expected to go great guns in the wake of battery electric vehicles being in demand. However, to see this market re-flourishing, the Covid-19 phase needs to pass”.
Conclusion
The global automotive cockpit electronics market is expected to witness transition in terms of revenue generation post-Covid-19 era. Till then, sustenance would be needed in the form of strategic planning.
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