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Automotive Digital Cockpit Market Trends That Will Shape the Next Decade: Insights from Tech Advancements Drive Automotive Digital Cockpit Market Growth By Embracing Next-Gen Innovations
Automotive Digital Cockpit Market
How Large Will the Automotive Digital Cockpit Market Size By 2025?
The market for automotive digital cockpits has seen significant expansion in the past few years. The market value is projected to increase from $26.09 billion in 2024 to $28.39 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.8%. Factors leading to the growth during the historic period include customer desires for connectivity and in-car entertainment, governmental regulations, competitive differentiation, and the globalization of automotive markets.
How Big Is the Automotive Digital Cockpit Market Size Expected to Grow by 2029?
In the upcoming years, the automotive digital cockpit market is predicted to experience significant growth. By 2029, it's anticipated to escalate to $41.4 billion, exhibiting a compound annual growth rate (CAGR) of 9.9%. Factors contributing to this projected growth during the forecast period include issues surrounding cybersecurity, health and wellness monitoring, the emergence of mobility-as-a-service (MaaS), sustainable mobility, and smart city integration. The forecast period is expected to witness trends like advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), enhanced customization and personalization, digital assistants and voice recognition, the inclusion of biometric sensors, as well as haptic feedback and touch controls.
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Which Key Market Drivers Powering Automotive Digital Cockpit Market Expansion and Growth?
The surge in the number of interconnected automobiles is set to drive the expansion of the automotive digital cockpit market. The term connected vehicle refers to a vehicle equipped with an integrated connectivity system, enabling internet access and wireless connections to nearby devices. The automotive digital cockpit plays a crucial role in paving the way for future connected car experiences, seen as a major technological trend. For example, a report by the Insurance Institute for Highway Safety, a non-profit organization based in the US, predicted in December 2022 that by 2025, there would be around 3.5 million autonomous vehicles on US streets. Moreover, by 2030, this number is expected to rise to 4.5 million autonomous vehicles. Thus, the burgeoning number of connected vehicles is the driving force behind the growth of the automotive digital cockpit market.
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What Long-Term Trends Will Define the Future of the Automotive Digital Cockpit Market?
Prominent advancements in technology are becoming a significant trend in the automotive digital cockpit market. To maintain their standing in this market, major firms are rolling out innovative technological solutions like low latency 5G technologies. For example, a technology market analysis company based in Singapore, Canalys, unveiled its Digital Cockpit Analysis service in April 2022. The future generation of vehicles will lean more towards being autonomous, connected, electric and software-reliant. The in-car experience is being redesigned around a digital cockpit and an automotive OS in these new vehicles. The digital cockpit is a fully digitalized, software-driven dashboard system in the vehicle, designed to assist drivers and passengers with essential driving operations. This digital cockpit includes instrument clusters, infotainment, navigation, ADAS, proactive AI, comfort controls, among others, using multi-modal interfaces on a single platform.
What Are the Emerging 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 Global Leaders 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
Which are the Top Profitable Regional Markets for the Automotive Digital Cockpit Industry?
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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