Press release
Automotive Cockpit Electronics Market Size Forecasted To Achieve $62.22 Billion By 2029 With Steady Growth
Automotive Cockpit Electronics
What Is the Automotive Cockpit Electronics Market Size and Projected Growth Rate?
In previous years, the market size for automotive cockpit electronics has expanded significantly. Its growth is forecasted to increase from $41.22 billion in 2024 to hit $44.86 billion in 2025, boasting a compound annual growth rate (CAGR) of 8.8%. The historic growth can be traced back to factors such as urbanization and traffic congestion, enhanced consumer awareness, an upsurge in the demand for fuel-efficient vehicles, a rising grasp of air quality issues, and an improved infrastructure for hybrid and electric vehicles.
The market size of automotive cockpit electronics is projected to witness significant expansion in the upcoming years. It is predicted that it will reach a value of $62.22 billion in 2029 with a compound annual growth rate (CAGR) of 8.5%. Factors leading to growth during the forecasted period include the rising electrification of vehicles, urbanization expansion, incorporation of self-driving technologies, an increase in the adoption of 48v systems, and growth of charging infrastructure. The forecasted period will also see major trends such as research and innovation in hybrid technologies, collaboration between public and private sectors, a focus on customization and flexibility, progress in lightweight vehicle materials, and enhancements in customization and modularity.
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What Are the Major Segments in the Automotive Cockpit Electronics Market?
The automotive cockpit electronics market covered in this report is segmented -
1) By Product: Head-up Display (HUD), Information Display, Infotainment And Navigation, Instrument Cluster, Telematics, Other Products
2) By Technology: Touchscreen Technology, Voice Recognition Systems, Advanced Driver Assistance Systems (ADAS), Connectivity Solutions
3) By Propulsion: Internal Combustion Engine (ICE) Vehicles, Electric and Hybrid Vehicles
4) By Vehicle Type: Passenger Cars, Commercial Vehicles
Subsegments:
1) By Head-up Display (HUD): Augmented Reality HUD (AR-HUD), Combiner HUD, Windshield HUD
2) By Information Display: Central Information Display, Rear Seat Display, Touchscreen Display
3) By Infotainment and Navigation: Integrated Infotainment Systems, Standalone Infotainment Systems, Navigation Systems
4) By Instrument Cluster: Analog Instrument Cluster, Digital Instrument Cluster, Hybrid Instrument Cluster
5) By Telematics: Vehicle-to-Everything (V2X) Telematics, Embedded Telematics Systems, Smartphone-Connected Telematics
6) By Other Products: HVAC Control Systems, Gesture Control Systems, Voice Recognition Systems
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What Are The Driving Automotive Cockpit Electronics Market Evolution?
The rising number of vehicles is predicted to boost the expansion of the automotive cockpit electronics market. This increase in vehicle sales can be linked to economic growth, a consumer inclination towards vehicle ownership, the launch of new models, advancements in vehicle technology, and appealing financing options. The value of automotive cockpit electronics lies in their advancement of vehicle safety, convenience, and comfort through providing intuitive controls, timely information and advanced driver aid features, improving the whole driving experience. For example, data from the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association, based in Japan, reveal that 4,779,086 new cars were sold in Japan in 2023, a rise of 13.8% from the previous year. Therefore, the rising count of vehicles is fueling the expansion of the automotive cockpit electronics market.
Which Firms Dominate The Automotive Cockpit Electronics Market Segments?
Major companies operating in the automotive cockpit electronics market are Robert Bosch GmbH, Hitachi Automotive Systems Ltd., Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis Co Ltd., Mitsubishi Electric Corporation, Aisin Seiki Co. Ltd., Fujitsu Ten Ltd., Valeo, Texas Instruments, Aptiv plc, Parker Hannifin Corporation, Nidec Corporation, Schaeffler AG, TRW Automotive, BorgWarner Inc., Hella GmbH & Co. KGaA, Rheinmetall Automotive AG, GKN Automotive, Mando Corporation, Kostal Ltd., Sungwoo Hitech Co. Ltd., SEG Automotive, Mahle GmbH, IAV Automotive Engineering, Delphi Technologies, Magneti Marelli
What Trends Are Expected to Dominate the Amnion Patch Market in the Next 5 Years?
Leading corporations in the automotive cockpit electronics sector are partnering with artificial intelligence (AI) platforms to engineer cutting-edge in-vehicle infotainment (IVI) systems. The inclusion of AI technology in these systems significantly improves the user experience with features like customized interactions, better safety measures via advanced driver aid, and real-time information analysis for system efficiency. Case in point, MediaTek, a semiconductor company from Taiwan, collaborated with NVIDIA, a US software company, to introduce the Dimensity auto cockpit platform in March 2024. This joint venture is focused on integrating superior AI technology into vehicles to elevate in-cabin experiences for drivers and passengers alike. The Dimensity Auto Cockpit portfolio brings to the table an AI-powered in-cabin experience for the upcoming batch of smart vehicles. This versatile platform includes four new automotive SoCs: the dimensity auto cockpit C-X1, C-Y1, C-M1, and C-V1, covering a range from premium (C-X1) to entry-level (C-V1) segments in a comprehensive manner.
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Which Is The Largest Region In The Automotive Cockpit Electronics Market?
Asia-Pacific was the largest region in the automotive cockpit electronics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive cockpit electronics 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 Cockpit Electronics Market?
2. What is the CAGR expected in the Automotive Cockpit Electronics Market?
3. What Are the Key Innovations Transforming the Automotive Cockpit Electronics Industry?
4. Which Region Is Leading the Automotive Cockpit Electronics Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the automotive cockpit electronics market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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