Automotive Cockpit Electronics Market Global Demand Analysis & Opportunity Outlook 2033” delivers detailed overview of the automotive cockpit electronics market in terms of market segmentation by product type, by application, by vehicle and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The Automotive Cockpit Electronics Market finds its applications in entertainment system, passenger comfort, active safety and driver assistance among other applications and is segmented by vehicle type into economic passenger car, mid-priced passenger car and luxury passenger car. Among these segments, the luxury passenger car is anticipated to dominate the market owing to the availability of advanced features in it.
Automotive Cockpit Electronics Market Statistics
- USD 50 billion revenue in 2023
- Record USD 61 billion revenue by 2033
- The market size slated to observe 10% growth rate through 2023-2033
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Further, the head up display in product type is expected to dominate the automotive cockpit electronics market owing to it safety features and its spiked demand in vehicles. In addition to that, better efficiency, high quality and integration of cockpit connected devices and smart devices are anticipated to drive the growth of the automotive cockpit electronics market during the forecast period.
The global market of automotive cockpit electronics was valued at USD 33.9 Billion in 2016 and is expected to reach significant market valuation by the end of 2033 by witnessing compound annual growth rate of 8.7% over the forecast period. Factors such as rising trend of integration of automotive with smart devices and convenience features are expected to foster the growth of the market. Further, demand from consumers for better user-experience is anticipated to drive the market’s growth with notable revenue by the end of forecast period.
In the regional segment, North America held the largest market share in 2016 and is anticipated to behold its positive growth over the forecast period which can be attributed to rising disposable income and increasing sales of automotive in the region. After North America, Europe is expected to hold second position in automotive cockpit electronics market owing to presence of major automotive companies in the region. Further, Asia Pacific automotive cockpit electronics market is anticipated to grow with highest pace by the end of 2033.
Safety Regulations & Technological Advancements to Boom the Market
The growth of the market is rising on the back of increasing disposable income, growing sales of automotive combined with growing safety concerns among customers. Additionally, technological advancements and stringent government regulations for the safety of passengers are expected to benefit the expansion of the market around the globe.
According to recent study by Research Nester, the automotive cockpit electronics market size is anticipated to surpass USD 61 Bn by 2033 and is projected to expand at CAGR of over 10% from 2023 to 2033.
Major players include in the global Automotive Cockpit Electronics Market:
- Continental Automotive GmbH
- Robert Bosch GmbH
- Denso Corporation
- Faurecia Clarion
- Garmin
- Panasonic Corporation
- Visteon Corporation
- Alps Alpine Co., Ltd.
However, high cost of automotive cockpit electronics combined with its high maintenance cost is likely to inhibit the growth of the automotive cockpit electronics market in the near future.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the automotive cockpit electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
The detailed segments and sub-segment of the market are explained below:
By Equipment
- Digital Instrument Cluster
- Advanced Head Unit and Camera-Based Driver Monitoring System
- Infotainment & Navigation
- Telematics
By Application
- Entertainment System Application
- Passenger Comfort Application
- Driver Assistance Application
By End-User
- Economic Passenger Cars
- Mid-Priced Passenger Cars
- Luxury Passenger Cars
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