PUBLISHER: The Business Research Company | PRODUCT CODE: 1435679
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435679
An automotive digital cockpit solution denotes digital interfaces designed by OEMs to address the constraints associated with conventional analog instrument clusters found inside vehicles. These solutions aim to mitigate issues such as parallax errors arising from viewing angles and provide real-time data through digital interfaces. They facilitate digital experiences within a vehicle by integrating multiple screens, digital assistants, and diverse input methods for enhanced functionality and usability.
The primary categories of automotive digital cockpits encompass passenger vehicles and commercial vehicles. Passenger cars, defined as road motor vehicles intended for passenger transportation and accommodating up to nine individuals (including the driver), feature several equipment elements such as a digital instrument cluster, driving monitoring system, and heads-up display. The displays utilized in these setups consist of technologies such as LCD, TFT-LCD, and OLED.
The automotive digital cockpit market research report is one of a series of new reports from The Business Research Company that provides automotive digital cockpit market statistics, including automotive digital cockpit industry global market size, regional shares, competitors with an automotive digital cockpit market share, detailed automotive digital cockpit market segments, market trends and opportunities, and any further data you may need to thrive in the automotive digital cockpit industry. This automotive digital cockpit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive digital cockpit market size has grown rapidly in recent years. It will grow from $23.82 billion in 2023 to $26.52 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historical period can be attributed to consumer demand for connectivity and in-car entertainment, government regulations, the pursuit of competitive differentiation, and the globalization of automotive markets.
The automotive digital cockpit market size is expected to see rapid growth in the next few years. It will grow to $39.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. Projected growth is driven by cybersecurity concerns, health and wellness monitoring, the rise of Mobility-as-a-Service (MaaS), sustainable mobility, and smart city integration. Key trends include advanced driver-assistance systems, AR head-up displays, customization and personalization, digital assistants and voice recognition, integration of biometric sensors, and haptic feedback with touch controls.
The anticipated growth of the automotive digital cockpit market is closely linked to the increasing number of connected vehicles. Connected vehicles are those equipped with built-in connectivity systems, enabling them to access the internet and establish wireless connections with nearby devices. The automotive digital cockpit plays a pivotal role in unlocking future connected car experiences and is considered a key technology trend. As of March 2022, data from the Scania Report 2021, a Sweden-based manufacturing company, reveals that Scania had approximately 560,000 connected vehicles, accounting for 64% of its 10-year rolling fleet. This number is on a rapid upward trajectory, highlighting the increasing prevalence of connected vehicles. Consequently, the surge in the number of connected vehicles stands as a significant driver propelling the growth of the automotive digital cockpit market.
The upward trajectory of electric luxury vehicles is anticipated to drive the growth of the automotive digital cockpit market. Electric luxury vehicles exclusively use battery-stored energy to be propelled by one or more electric traction motors. These vehicles leverage automotive digital cockpits to enhance the user experience, incorporating advanced technologies and intuitive interfaces that complement their innovative and eco-friendly characteristics. As of December 2022, data from Cox Automotive, a US-based automobile company, indicates a notable increase in the share of luxury vehicles, reaching 18.2% of overall sales in November, up from 17.8% in October. This surge in the popularity of electric luxury vehicles is a key factor propelling the growth of the automotive digital cockpit market, as these vehicles increasingly adopt sophisticated cockpit technologies to align with consumer expectations.
The automotive digital cockpit market is witnessing a significant trend with a focus on technological advances. Major companies in this market are strategically introducing innovative technologies, such as 5G low latency technologies, to maintain their competitive positions. An example is Canalys, a Singapore-based technology market analyst firm, which, in April 2022, launched the Digital Cockpit Analysis service. The evolving landscape of cars, characterized by increasing autonomy, connectivity, electrification, and software dependence, is reshaping the in-car experience. The digital cockpit, serving as an all-digital, software-defined, in-vehicle dashboard system, is pivotal in facilitating essential driving functions for both drivers and passengers. This comprehensive system integrates instrument clusters, infotainment, navigation, ADAS, proactive AI, comfort controls, and more through multi-modal interfaces on a unified platform. This strategic integration of advanced technologies reflects the industry's commitment to redefining the automotive digital cockpit and enhancing the overall driving experience.
Major companies within the automotive digital cockpit industry are adopting a strategic partnership approach to enhance integrated solutions and deliver innovative, user-centric in-vehicle experiences. This strategic partnership approach involves companies leveraging each other's strengths and resources to achieve mutual benefits and success. A notable example is the collaboration between AMD, a US-based semiconductor company, and ECARX, a China-based automotive technology provider. Announced in August 2022, this partnership aims to develop an immersive digital cockpit in-vehicle computing platform for next-gen electric vehicles. The platform is designed to offer advanced features, including driver information mode, heads-up display, multi-zone voice recognition, high-end gaming capabilities, and a full 3D user experience. This strategic collaboration underscores the industry's commitment to fostering innovation and delivering cutting-edge solutions through synergistic partnerships.
In February 2021, DXC Technology Company, a prominent US-based information technology services company, successfully acquired Luxoft for a deal amount totaling $2 billion. This strategic acquisition is intended to reinforce DXC Technology Company's digital capabilities for customers, solidifying its position in the market. Luxoft, headquartered in Switzerland, is a technology services provider specializing in digital cockpit solutions. Its offerings encompass the development, integration, testing, and support of digital cluster systems, head-unit systems, rear-seat entertainment systems, and head-up displays.
Major companies operating in the automotive digital cockpit market report are 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
Asia-Pacific was the largest region in the automotive digital cockpit market in 2023. The regions covered in the automotive digital cockpit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive digital cockpit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive digital cockpit market consists of revenues earned by entities by providing digital cockpit solutions such as safety-critical features, information, entertainment, navigation, ADAS, proactive artificial intelligence, and comfort controls. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive digital cockpit market also includes sales of head-up displays, infotainment systems, navigation systems, embedded visualizations, smart voice assistance, Wi-Fi cameras, and HVAC controllers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Digital Cockpit Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive digital cockpit market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive digital cockpit ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive digital cockpit market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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