Press release
Automotive Digital Cockpit Market Anticipated To Witness Robust Growth, Surpassing $42.93 Billion By 2029
Automotive Digital Cockpit
What Is the Current Automotive Digital Cockpit Market Size and Its Estimated Growth Rate?
The market size of the automotive digital cockpit has experienced a swift expansion in the past few years. The projection is for it to increase from $26.09 billion in 2024 to $28.84 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.5%. Several factors, including consumer desires for in-car connectivity and entertainment, governmental regulations, a need for competitive differentiation, and the global expansion of automotive markets are contributing to the growth observed in the historic period.
Over the coming years, the automotive digital cockpit market is anticipated to experience accelerated expansion. The market is forecasted to reach $42.93 billion in value by 2029, growing at a compound annual growth rate (CAGR) of 10.5%. The projected growth in this period can be ascribed to issues such as cybersecurity, health and wellness monitoring, the emergence of Mobility-as-a-Service (MaaS), sustainable mobility, and smart city integration. Noteworthy trends that will be prominent in this forecast period comprise advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization and personalization trends, digital assistants and voice recognition technologies, the incorporation of biometric sensors as well as haptic feedback and touch controls.
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How Are Emerging Segments Shaping the Automotive Digital Cockpit Market Landscape?
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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Which Growth Factors Are Influencing Automotive Digital Cockpit Market Expansion?
The surge in the number of vehicles equipped with connectivity is set to drive the expansion of the automotive digital cockpit market. A connected vehicle has a built-in connectivity system allowing it to wirelessly connect with surrounding devices and access the internet. The automotive digital cockpit plays a vital role in unlocking future connected car experiences and is perceived as a critical technological trend. For example, a report released in December 2022 by the Insurance Institute for Highway Safety - a non-profit organization in the US, forecasted that America's roads would host 3.5 million autonomous vehicles by 2025. Moreover, by 2030, this figure is projected to reach 4.5 million. Consequently, the escalating number of connected vehicles is propelling the progress of the automotive digital cockpit market.
Who Are the Dominant Players Across Different Automotive Digital Cockpit Market Segments?
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
What Are the Latest Developing Trends in the Automotive Digital Cockpit Market?
In the automotive digital cockpit market, the principal trend ripe for adoption is technological advancements. Renowned corporations participating in this market are employing cutting-edge innovations like 5G low latency technologies to maintain their dominance. For example, Canalys, a tech market analysis firm based in Singapore, inaugurated its Digital Cockpit Analysis service in April 2022. As we transition to the future, cars will rely more on automated systems, connectivity, electricity, and software. A reimagination and subsequent development of the in-car experience around a digital cockpit and an automotive OS is unfolding in new vehicles. The digital cockpit is an entirely digital, software-regulated, on-board dashboard system devised to assist drivers and passengers with vital driving tasks. This digital cockpit merges instrument clusters, infotainment, navigation, ADAS, proactive AI, comfort controls, and more, all accessible via multi-modal interfaces on a singular platform.
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Which Geographic Regions Are Expected to Dominate the Automotive Digital Cockpit Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Digital Cockpit Market?
2. What is the CAGR expected in the Automotive Digital Cockpit Market?
3. What Are the Key Innovations Transforming the Automotive Digital Cockpit Industry?
4. Which Region Is Leading the Automotive Digital Cockpit Market?
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