Press release
Automotive Digital Cockpit Market 2024-2033: Future Outlook, Industry Share, Global Trends And Key Players Analysis
Automotive Digital Cockpit Market
The automotive digital cockpit market size is expected to see rapid growth in the next few years. It will grow to $39.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to cybersecurity concerns, health and wellness monitoring, rise of mobility-as-a-service (MaaS), sustainable mobility, smart city integration. Major trends in the forecast period include advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization and personalization, digital assistants and voice recognition, integration of biometric sensors, haptic feedback and touch controls.
Market Overview -
An automotive digital cockpit solution refers to digital interfaces that OEMs can use to overcome the limitations of traditional analog instrument clusters inside their cars, such as parallax error of meter, which happens due to the viewing angle, and offer real-time data with digital interference. It is used for digital experiences within a car, encompassing multiple screens, digital assistants, and different input methods.
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Rise Of Connected Vehicles Fueling Automotive Digital Cockpit Market Growth
The increasing number of connected vehicles is expected to propel the growth of the automotive digital cockpit market going forward. A connected vehicle refers to a vehicle that has an inbuilt system of connectivity that makes it possible to access the internet and connect wirelessly to nearby devices. The automotive digital cockpit helps connected vehicles unlock future connected car experiences and is envisioned as the key technology trend. For instance, in March 2022, according to the Scania Report 2021, a Sweden-based manufacturing company, Scania had around 560,000 connected vehicles (64% of its 10-year rolling fleet) and that number is rapidly increasing. Therefore, an increasing number of connected vehicles is driving the growth of the growth of the automotive digital cockpit market.
Competitive Landscape -
Major companies operating in the automotive digital cockpit market report are Volkswagen Group, Bayerische Motoren Werke AG, Daimler AG, Robert Bosch GmbH, Pioneer Corporation, LG Electronics Inc., Panasonic Corporation, ZF Friedrichshafen AG, Denso Corporation, Continental AG, Hyundai Mobis Co. Ltd., Magna International Inc., NVIDIA Corporation, Valeo S.A., Geely Automobile Holdings Limited, Texas Instruments Incorporated, Aptiv PLC, Yazaki Corporation, Renesas Electronics Corporation, Harman International Industries Incorporated, Alps Alpine Co. Ltd., Garmin Ltd., Visteon Corporation, Altran Technologies SA, Nippon Seiki Co. Ltd., Preh GmbH, Gentex Corporation, Faurecia Clarion Electronics, Tata Elxsi, Clarion Co. Ltd., Adient plc, Sony Corporation, BorgWarner Inc., HARMAN International Industries Incorporated, E-Lead Electronic Co. Ltd., Tata Consultancy Services Limited, SBD Automotive Limited, Microchip Technology Inc., Toshiba Electronic Devices & Storage Corporation, Ricardo plc
Tech Advancements Drive Automotive Digital Cockpit Market Growth By Embracing Next-Gen Innovations
Technological advances are the key trend gaining popularity in the automotive digital cockpit market. Major companies operating in the automotive digital cockpit market are introducing technological innovations such as 5G low latency technologies to sustain their position in the automotive digital cockpit market. For instance, in April 2022, Canalys, a Singapore-based technology market analyst firm, launched the Digital Cockpit Analysis service. The next generation of cars will be increasingly autonomous, connected, electric, and software-dependent. The in-car experience in new vehicles is being reimagined and built around a digital cockpit and an automotive OS. The digital cockpit is an all-digital, software-defined, in-vehicle dashboard system to aid drivers and passengers in performing crucial driving functions. The digital cockpit incorporates instrument clusters, infotainment, navigation, ADAS, proactive AI, comfort controls, and more using multi-modal interfaces on one platform.
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Key Segments -
The automotive digital cockpit market covered in this report is segmented -
1) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
2) By Equipment: Digital Instrument Cluster, Driving Monitoring System, Heads-Up Display
3) By Display: LCD, TFT-LCD, OLED
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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