Overview and Scope
An automotive digital cockpit solution refers to digital interfaces that OEMs can use to overcome the limitations of traditional analog instrument clusters inside their cars, such as parallax error of meter, which happens due to the viewing angle, and offer real-time data with digital interference. It is used for digital experiences within a car, encompassing multiple screens, digital assistants, and different input methods.
Sizing and Forecast
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 in the historic period can be attributed to consumer demand for connectivity, in-car entertainment, government regulations, competitive differentiation, globalization of automotive markets, government regulations.
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%. The growth in the forecast period can be attributed to cybersecurity concerns, health and wellness monitoring, rise of mobility-as-a-service (MaaS), sustainable mobility, smart city integration. Major trends in the forecast period include advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization and personalization, digital assistants and voice recognition, integration of biometric sensors, haptic feedback and touch controls.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
The increasing number of connected vehicles is expected to propel the growth of the automotive digital cockpit market going forward. A connected vehicle refers to a vehicle that has an inbuilt system of connectivity that makes it possible to access the internet and connect wirelessly to nearby devices. The automotive digital cockpit helps connected vehicles unlock future connected car experiences and is envisioned as the key technology trend. For instance, in March 2022, according to the Scania Report 2021, a Sweden-based manufacturing company, Scania had around 560,000 connected vehicles (64% of its 10-year rolling fleet) and that number is rapidly increasing. Therefore, an increasing number of connected vehicles is driving the growth of the growth of the automotive digital cockpit market.
Key Industry Players
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
The automotive digital cockpit market report table of contents includes:
1. Executive Summary
2. Automotive Digital Cockpit Market Characteristics
3. Automotive Digital Cockpit Market Trends And Strategies
4. Automotive Digital Cockpit Market – Macro Economic Scenario
5. Global Automotive Digital Cockpit Market Size and Growth
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32. Global Automotive Digital Cockpit Market Competitive Benchmarking
33. Global Automotive Digital Cockpit Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Digital Cockpit Market
35. Automotive Digital Cockpit Market Future Outlook and Potential Analysis
36. Appendix
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