Press release
Global Automotive Digital Cockpit Market Projected to Surpass $42.93 Billion by 2029 with 10.5% Annual Growth
Automotive Digital Cockpit
The predicted rise in connected automobiles is likely to boost expansion in the automotive digital cockpit market. Connected vehicles are those equipped with in-built connectivity systems, allowing internet access and wireless connection to nearby equipment. The automotive digital cockpit plays a crucial role in enhancing connected car experiences, thus making it a significant technological trend. As per a report from the Insurance Institute for Highway Safety, a non-profit entity based in the US, it is estimated that by 2025, around 3.5 million autonomous vehicles will be on American streets, and by 2030, this number is expected to reach 4.5 million. Consequently, this upsurge in connected cars is fueling the expansion of the automotive digital cockpit market.
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What is the future CAGR of the automotive digital cockpit market, and how will it impact industry expansion?
The size of the automotive digital cockpit market has quickly expanded in the past few years. The market, which is anticipated to be valued at $26.09 billion in 2024, is predicted to increase to $28.84 billion in 2025, displaying a compound annual growth rate (CAGR) of 10.5%. Factors such as consumer appeal for connectivity and in-car entertainment, government regulations, competitive differentiation, as well as globalization of automotive markets, have contributed to growth during the historic period.
It is predicted that the automotive digital cockpit market will experience accelerated growth in the coming years. The market is projected to escalate to a total of $42.93 billion by 2029, experiencing a compound annual growth rate (CAGR) of 10.5%. The rise during the anticipated period can be credited to elements such as cybersecurity issues, health and wellness tracking, the emergence of mobility-as-a-service (MaaS), sustainable mobility, and the incorporation of smart cities. Key trends expected during this period are the introduction of advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization and personalization, digital assistants and voice recognition, the use of biometric sensors, and the development of haptic feedback and touch controls.
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What are the most significant trends transforming the automotive digital cockpit market today?
The emergence of technological breakthroughs is a major trend gaining traction in the automotive digital cockpit industry. Notably, primary corporations in this sector are incorporating novel technologies like 5G low latency to maintain their standing in the market. Take, for example, Canalys, a tech market analysis firm based in Singapore, which launched the Digital Cockpit Analysis service in April 2022. Future vehicles are expected to be more autonomous, connected, electrified, and reliant on software. The interior experience in new cars is being re-envisioned and developed with a focus on a digital cockpit and automotive Operating System (OS). The digital cockpit is a fully digital, software-based, in-car dashboard system that aids drivers and passengers in critical driving tasks. It integrates instrument clusters, infotainment, navigation, Advanced Driver Assistance Systems (ADAS), proactive AI, comfort controls, among others, using multi-modal interfaces on a single platform.
Which key market segments comprise the automotive digital cockpit market and drive its revenue growth?
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
Subsegments:
1) By Passenger Vehicle: Sedans, SUVs (Sport Utility Vehicles), Hatchbacks, Coupes, Electric Vehicles (EVs)
2) By Commercial Vehicle: Light Commercial Vehicles, Heavy Commercial Vehicles, Specialty Vehicles, Fleet Vehicles
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What regions are at the forefront of automotive digital cockpit market expansion?
Asia-Pacific was the largest region in the automotive digital cockpit market in 2024. The regions covered in the automotive digital cockpit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the automotive digital cockpit market?
Major companies operating in the automotive digital cockpit market include 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
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What Is Covered In The Automotive Digital Cockpit Global Market Report?
• Market Size Forecast: Examine the automotive digital cockpit market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive digital cockpit market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive digital cockpit market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive digital cockpit market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive digital cockpit market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive digital cockpit market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive digital cockpit market.
• Competitive Landscape: Review strategic developments in the automotive digital cockpit market, including expansions, agreements, and new product launches.
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