Press release
Automotive Digital Cockpit Market on Track for Strong Growth, Estimated to Grow at 10.5% CAGR Through 2029
Automotive Digital Cockpit Market
Automotive Digital Cockpit Market Size Growth Forecast: What to Expect by 2025?
The market size of the automotive digital cockpit has seen a swift expansion in the past few years. The market worth of $26.09 billion in 2024 is projected to escalate to $28.84 billion in 2025, experiencing a compound annual growth rate (CAGR) of 10.5%. Factors contributing to the growth in the historic period include demand from consumers for connectivity and in-car entertainment, government regulatory measures, competitive differentiating elements, and the globalization of automotive markets.
How Will the Automotive Digital Cockpit Market Size Evolve and Grow by 2029?
The size of the automotive digital cockpit market is set to increase swiftly in the upcoming years, reaching $42.93 billion in 2029 with a compound annual growth rate (CAGR) of 10.5%. Factors contributing to this growth during the projected timeline include the rise in cybersecurity considerations, health and wellness tracking, the emergence of mobility-as-a-service (MaaS), sustainable mobility, and the integration with smart cities. Future trends during this forecasted period involve the incorporation of advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization tools, digital assistants with voice recognition, use of biometric sensors, as well as haptic response and touch controls.
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What Drivers Are Propelling the Growth of Automotive Digital Cockpit Market Forward?
The automotive digital cockpit market is anticipated to grow due to the rising number of connected vehicles. A connected vehicle, equipped with a built-in connectivity system that provides internet access and wireless connection to nearby devices, uses an automotive digital cockpit for future connected car experiences. It's seen as a significant technological trend. For example, a report from the Insurance Institute for Highway Safety, a non-profit organization based in the US, in December 2022, predicted there will be 3.5 million autonomous vehicles in the US by 2025, and by 2030, the number will rise to 4.5 million. This growing presence of connected vehicles is a pivotal force propelling the automotive digital cockpit market's expansion.
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Which Emerging Trends Are Transforming the Automotive Digital Cockpit Market in 2025?
The trend of technological advancements is gaining significant momentum in the automobile digital cockpit market. Notable players in the automobile digital cockpit arena are incorporating technological breakthroughs such as low latency 5G technologies to maintain their market stature. For instance, in April 2022, Canalys, a technology market analysis agency based in Singapore, unveiled their Digital Cockpit Analysis service. The subsequent automobile generations will be characterised by increased autonomy, better connectivity, electric power, and dependency on software. The concept of in-vehicle experience is being redefined with the focus shifting towards an automobile operating system and a digital cockpit. The digital cockpit is an entirely digital, software-regulated in-vehicle dashboard system designed to assist drivers and occupants in carrying out important driving operations. This digital cockpit timelessly integrates components like instrument clusters, infotainment, navigation, ADAS, proactive AI, comfort controls, among others, using multi-modal interfaces on a single platform.
What Are the Key Segments in the Automotive Digital Cockpit Market?
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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Who Are the Key Players Shaping the Automotive Digital Cockpit Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive Digital Cockpit Market?
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.
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