PUBLISHER: Market Research Future | PRODUCT CODE: 1484105
PUBLISHER: Market Research Future | PRODUCT CODE: 1484105
Global Automotive Cockpit Electronics Market Forecast to 2032
The Automotive Cockpit Electronics market is expected to expand at a compound annual growth rate (CAGR) of 8.08% between 2024 and 2032, from USD 45.72 billion in 2024 to USD 85.2 billion by 2032. Automotive Cockpit Electronics: One of the main factors propelling the market's expansion is consumers' growing preference for cars with opulent amenities, such as cutting-edge comfort electronics.
The Electronics Type segmentation of the Automotive Cockpit Electronics Market comprises the following: Climate Control System, Telematics, Audio System, Dash Cameras, Driver Information Display, {Central Display, Passenger Display, Controls, and Integration Elements}, Infotainment System, {Cockpit Integration Platform, Display, and Integration System}, and Head-Up Display.
The market is divided into two segments based on the kind of vehicle: commercial vehicles (LCVs, Trucks, and Buses) and passenger cars (Hatchback, Sedan, SUV & MUV, Sports & Hypercar, and Others).
The Automotive Cockpit Electronics Market is segmented into four categories based on the passenger car category: premium (88K-163K USD), luxury (above 163 K USD), mid-priced (44K-87 K USD), and economical (up to 43 K USD). The segmentation of the market is based on vehicle autonomy and includes conventional and semi-autonomous vehicles, ICE and electric vehicles, and OEM and aftermarket sales channels.
ICE and Electric Vehicles are included in the Automotive Cockpit Electronics Market classification based on Vehicle Autonomy.
OEM and Aftermarket are included in the Automotive Cockpit Electronics Market segmentation based on Vehicle Autonomy.
About 39% of the automotive cockpit electronics market in Asia Pacific was accounted for in 2022. The Automotive Cockpit has been growing significantly in the Asia-Pacific area. The region includes nations like China and India, which are important centers for the production and sales of automobiles.
The least expensive mode of transportation is the road. Consequently, there has been a noticeable increase in the number of cars on the road, which is the main cause of the rise in traffic accidents. A rise in traffic accidents prompts automakers to incorporate a variety of active and passive safety features, which help to reduce the number of accidents on the road. As a result, automakers must produce intelligent and crash-worthy cars in order to reduce the number of fatalities on the roads in developing nations, where laws governing vehicle safety are less stringent than in industrialized nations.
The market share that comes from North America is the second largest. North America is home to some of the largest automakers in the world, including Ford, General Motors, and Tesla. The development of cutting-edge technologies like infotainment and advanced driver assistance systems (ADAS) is being fueled by these companies' substantial investments, and as a result, the market for cockpit electronics is expanding. For instance, in FY2022, the US auto industry sold about 2.86 billion cars.
HARMAN International, Continental AG, Panasonic Holdings Corporation, Robert Bosch GmbH, LG Electronics, Aptiv, Visteon Corporation, DESAY Industry, Denso Corporation, Huawei Technologies Co., Ltd., ART SPA, and ALPS ALPINE CO., LTD. Valeo SA, Marelli, are some of the major players in the Automotive Cockpit Electronics market.