PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485818
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485818
Automotive Cockpit Electronics Market size was valued at USD 46,409.43 Million in 2023, expanding at a CAGR of 8.91% from 2024 to 2032.
Automotive cockpit electronics refer to the various electronic components and systems integrated into the dashboard area or cockpit of a vehicle. These electronics play a crucial role in providing entertainment, connectivity, information, and control features to occupants, enhancing the driving experience and comfort. Automotive cockpit electronics play a vital role in modern vehicles, offering a wide range of features and functionalities to enhance the driving experience, safety, and convenience of occupants. The integration of advanced technologies and connectivity features continues to drive innovation in this space, making vehicles more connected, intelligent, and enjoyable to drive.
Automotive Cockpit Electronics Market- Market Dynamics
The increasing demand for advanced safety features and the rising trend of connected cars are expected to drive the growth of the market
The automotive industry is currently undergoing a significant transformation as it embraces advanced safety features and connectivity in vehicles. This shift is primarily driven by consumer demand for improved safety, convenience, and connectivity options in their cars. According to Kelly Blue Book, research indicates that advanced car safety features can potentially reduce the risk of serious accidents by 49% and lower the chances of injuries by 53%. Additionally, the increasing popularity of connected cars, which offer features like infotainment systems, navigation services, real-time vehicle diagnostics, and over-the-air updates, is further propelling the growth of the automotive cockpit electronics market. In fact, in 2020, connected cars accounted for more than 90% of all new car sales in the USA alone. SAP Insight predicts that by 2025, 5G cars will make up over a quarter of global connected car sales. Furthermore, the development of autonomous vehicles and advancements in Human-Machine Interface (HMI) technology present new opportunities for cockpit electronics manufacturers. However, the market growth may be hindered by concerns over cybersecurity and the need to comply with stringent regulatory requirements.
Automotive Cockpit Electronics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.91% over the forecast period (2024-2032)
Based on product type segmentation, the Infotainment System was predicted to show maximum market share in the year 2023
Based on Vehicle Type segmentation, Passenger Vehicle was the leading type in 2023
Based on Propulsion segmentation, Internal Combustion Engine (ICE) Vehicles were the leading type in 2023
Based on Sales Channel segmentation, OEMs were the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Automotive Cockpit Electronics Market is segmented based on Product Type, Vehicle Type, Propulsion, Sales Channel, and Region.
The market is segmented into twelve distinct categories according to the type of product they offer. These categories include Head-Up Display, Infotainment System, Cockpit Integration Platform, Display and Integration System, Driver Information Display, Central Display, Passenger Display, Controls and Integration Elements, Climate Control System, Telematics, Audio System, Dash Cameras, and Others. Among these categories, the Infotainment System holds a dominant position in the market. Infotainment systems serve as the central hub for entertainment, navigation, connectivity, and even vehicle control in modern cars. However, as these systems continue to advance, there is a growing concern about the potential distraction they may pose to drivers.
The market is segmented into two divisions according to Vehicle Type: Commercial Vehicles and Passenger Vehicles. Passenger Vehicle holds the majority share in the market. The automotive cockpit electronics sector within passenger vehicles is distinguished by advancements in infotainment systems, connectivity options, digital instrument clusters, driver assistance technologies, customization capabilities, integration with vehicle systems, and an increasing emphasis on sustainability and effectiveness.
The market is segmented into two categories according to Propulsion: Internal Combustion Engine (ICE) Vehicles and Electric and Hybrid Vehicles. Internal Combustion Engine (ICE) Vehicles currently hold the majority share of the market. The automotive cockpit electronics sector within internal combustion engine (ICE) vehicles is experiencing notable changes, propelled by technological advancements, connectivity, and the growing consumer desire for improved driving experiences.
The market is categorized into two segments, namely OEM and Aftermarket, based on Sales Channel. The dominant force in the market is the OEM segment. OEMs hold a crucial position in influencing the automotive cockpit electronics market through their commitment to innovation, safety and regulatory compliance, brand differentiation, and providing customers with engaging user experiences.
Automotive Cockpit Electronics Market- Geographical Insights
Geographically, this market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The North American region dominates the market due to the increasing production of vehicles with integrated ADAS features. This is driven by the growing awareness towards passenger comfort and safety. ADAS features such as adaptive cruise control, lane departure warning, and automatic emergency braking are becoming standard in many vehicles manufactured in North America. However, it is expected to take several decades for these features to fully penetrate the existing passenger vehicle fleet, considering the rapid expansion of ADAS features in new vehicles. The average age of passenger vehicles in the United States has increased by 9.6% in the last 10 years, with the current average age being 12.5 years. Given the significant number of older vehicles on U.S. roads, it will take years to fully realize the safety benefits of ADAS technologies. Europe holds the second largest region for market growth, driven by the increasing demand for digitization and connectivity to enhance safety and comfort features.
The automotive cockpit electronics market is characterized by fierce competition, fueled by technological advancements, market needs, and the quest for market dominance. Some companies specialize in specific areas within this market and excel in providing tailored solutions. Apart from global competitors, regional players also participate in the automotive cockpit electronics market, catering to specific geographical markets or vehicle segments. This competition drives continuous innovation, resulting in the development of increasingly sophisticated and feature-rich systems for vehicles. Original Equipment Manufacturers (OEMs) benefit from a wide range of suppliers offering diverse solutions to meet their specific requirements and cater to the demands of discerning consumers.
During CES, Harman, a technology supplier under Samsung Electronics, the fourth-largest tech company globally, introduced a range of cutting-edge cockpit technologies aimed at improving safety, and comfort, and providing new entertainment options for both drivers and passengers. The company highlights that all the latest products have undergone consumer validation and are now prepared for integration by OEMs.
GLOBAL AUTOMOTIVE COCKPIT ELECTRONICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
HARMAN International.
Continental AG
Robert Bosch GmbH.
Panasonic Holdings Corporation
LG Electronics
DESAY Industry.
Aptiv
Visteon Corporation.
Denso Corporation
Huawei Technologies Co., Ltd.
Valeo SA
Marelli
ART SPA
ALPS ALPINE CO., LTD.
Others