Automotive Cockpit Electronics Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Europe |
| CAGR: | 8.7 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Cockpit Electronics Market Analysis
The automotive cockpit electronics market was valued at USD 36.63 Billion and is projected to grow to a value of USD 60.43 Billion in 2027 and is anticipated to register a CAGR of over 8.7% during the forecast period (2022-2027).
The COVID-19 pandemic had a massive impact on the market studied as lockdowns and trade restrictions have led to supply chain disruptions and a halt of vehicle production across the world. However, as restrictions eased, players started focusing on mitigating such risks and developments to create momentum in the market during the forecast period.
Growing production of vehicles with integrated ADAS features in the wake of rising awareness toward comfort and safety of passengers and government regulations mandating safety features are expected to drive demand in the market. Moreover, the rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market.
The rising demand for digitization and connectivity to enhance safety and comfort features has been driving the market for cockpit electronics in vehicles. In addition to consumer demand, the stringent regulatory norms posed by various governments and safety organizations have been further boosting the growth of the automotive cockpit electronics market.
North America was the largest market for automotive cockpit electronics until 2019, followed by Asia-Pacific and Western Europe. However, the Asian region is estimated to become the key market for the manufacturing and usage of automotive cockpit electronics systems, with India gradually expanding its automotive parts and components-manufacturing hubs across the country.
The increasing demand for automotive control functions, which are accessible by the driver, has been growing in automobiles due to the wide-ranging use of sensors and modern automotive control amenities in passenger cars.
Automotive Cockpit Electronics Industry Segmentation
The Automotive Cockpit Electronics Market is segmented based on Product. The market is segmented into Head-up display, Information display, Infotainment and Navigation, Instrument clusters, Telematics, and Other Products. Based on Vehicle Type. the market is segmented into Passenger Cars and Commercial Vehicles, and based on Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The report covers the market size in value (USD Billion) for all the above segments.
The automotive cockpit electronics market covers the increasing demand for enhanced user experience and convenience features and also the rise in connected vehicles, and the integration of smartphones with vehicles.
| Product | |
| Head-up Display | |
| Information Display | |
| Instrument Cluster | |
| Infotainment and Navigation | |
| Telematics | |
| Other Products |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
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Automotive Cockpit Electronics Market Trends
This section covers the major market trends shaping the Automotive Cockpit Electronics Market according to our research experts:
Increasing Customer Preference for In-Dash Navigation System
Autonomous cars and connected vehicles are gaining consumers’ interest and are anticipated to gain wider acceptance over the forecast period. Such advanced features are expected to diminish the penetration gap between traditional cars and tomorrow’s cars. Moreover, With the rising technological advancements in the automotive industry, end users are ready to spend more on the latest technologies, which enhance the driving experience and increase the safety of drivers and riders. Major technological development in vehicles, such as collision warning, lane assistance, blind spot detection, etc., have a significant impact on consumer behavior and are expected to enhance vehicles' performance by reducing vehicle downtime by alerting the owner of any faults in the vehicle.
In-dash navigation receivers are highly suitable for travelers as they are very versatile and can put one in command of a variety of information, entertainment, and communication sources, through a single device. Apart from accessing music through discs, files, or the radio, passengers have been able to access the music and road-ready apps on their smartphones in many cases.
Moreover, the receiver's built-in GPS guidance is often much more reliable than smartphone mapping apps, especially if passengers have been traveling through areas with spotty cell coverage.
With the rise in smartphone Integration, most in-dash navigation receivers offer touch screen control, and they can be used to match certain smartphone features, including access to help travel and streaming music apps. Many receivers now feature "app mode" that allows some degree of control over select apps through the receiver's display. In some cases, there can be a two-way control between the smartphone and receiver for selecting music and performing other functions; however, the app functionality differs from receiver to receiver. Apple iPhone and Android smartphone users can now take advantage of the Apple CarPlay and Android Auto platforms through select navigation receivers.
Thus, owing to the aforementioned benefits, the demand and preference for in-dash navigation systems have been increasing, thereby driving the demand for the automotive cockpit electronics market.
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North America Holds a Significant Share in the Cockpit Electronics Market
The United States witnessed a continuous decline in passenger car sales from 2015-2018. However, owing to the rising demand for light commercial vehicles, the total vehicle sales have been witnessing positive growth.
In addition, the government of the United States regulates many ADAS systems in new vehicles, such as adaptive cruise control, rear cross-path detection, and front pedestrian detection. Additionally, the Insurance Institute for Highway Safety (IIHS) announced that automatic emergency braking (AEB) would be included in all new passenger vehicles by 2022.
Furthermore, the increasing focus of the automotive companies to add vehicle-to-vehicle communications in all the new cars in the country is expected to boost the demand for cock electronic systems, which, in turn, is likely to propel the growth of the market studied. The connected car and vehicle infotainment system features have been at the forefront, thereby enhancing the need for increasingly complex software-driven functionality.
However, even though all these features look attractive, automotive manufacturers have been faced with the challenge of providing security for these features, owing to the increasing rate of cyberattacks, which may slightly hinder the growth of the market studied.
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Automotive Cockpit Electronics Industry Overview
The automotive cockpit electronics market is dominated by several players, such as Visteon Corporation, Alpine Electronics Inc., Panasonic Corporation, Continental AG, Harman International Industries Inc., Delphi Automotive (Aptiv PLC), Clarion Co. Ltd, and Luxoft Holding Inc. These companies have been expanding their business by new innovative products so that they can have the edge over their competitors.
- In January 2020, at the Consumer Electronics Show 2020, Samsung Electronics unveiled Digital Cockpit 2020, which utilizes 5G to link features inside and outside the vehicle and provide connected experiences for drivers and passengers alike.
- In July 2019, Harman International Industries Inc., one of the world's largest manufacturers of car audio and connected car solutions, announced an investment of INR 350 crores at the Chakan plant in Pune, India. By 2021, the company is expected to triple its production capacity. Additionally, the company also plans to increase the capacity from 200,000 units a year to 2.5 million units a year over the next three years. The Digital Cockpit units (DCU) and Telematics control units (TCU) represent 12% of the total production of the company.
Automotive Cockpit Electronics Market Leaders
Visteon Corporation
Panasonic Corporation
Harman International Industries, Inc.
Clarion Co., Ltd
Alpine Electronics, Inc.
*Disclaimer: Major Players sorted in no particular order
Automotive Cockpit Electronics Market News
- In January 2020, Panasonic Corporation developed their Next Generation Connected eCockpit. The technology platform integrates Panasonic’s proprietary SkipGen 3.0 in-vehicle infotainment (IVI) system with Google’s Android Automotive OS running on Android 10.
- In January 2020, Visteon Corporation introduced its newest SmartCore—the first production cockpit domain controller with a third-generation Qualcomm Snapdragon Automotive Cockpit Platform.
Automotive Cockpit Electronics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Head-up Display
5.1.2 Information Display
5.1.3 Instrument Cluster
5.1.4 Infotainment and Navigation
5.1.5 Telematics
5.1.6 Other Products
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Visteon Corporation
6.2.2 Panasonic Corporation
6.2.3 Harman International Industries Inc.
6.2.4 Clarion Co. Ltd
6.2.5 Alpine Electronics Inc.
6.2.6 Continental AG
6.2.7 Magneti Marelli SPA
6.2.8 Yazaki Corporation
6.2.9 Denso Corporation
6.2.10 Garmin Ltd
6.2.11 Nippon-Seiki Co. Ltd
6.2.12 Tomtom International BV
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Automotive Cockpit Electronics Market Research FAQs
What is the study period of this market?
The Automotive Cockpit Electronics Market is studied from 2018 - 2028.
What is the growth rate of Automotive Cockpit Electronics Market?
The Automotive Cockpit Electronics Market is growing at a CAGR of 8.7% over the next 5 years.
What is Automotive Cockpit Electronics Market size in 2018?
The Automotive Cockpit Electronics Market is valued at 36 Billion USD in 2018.
What is Automotive Cockpit Electronics Market size in 2028?
The Automotive Cockpit Electronics Market is valued at 60 Billion USD in 2028.
Which region has highest growth rate in Automotive Cockpit Electronics Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Automotive Cockpit Electronics Market?
Europe holds highest share in 2021.
Who are the key players in Automotive Cockpit Electronics Market?
Visteon Corporation, Panasonic Corporation, Harman International Industries, Inc., Clarion Co., Ltd, Alpine Electronics, Inc. are the major companies operating in Automotive Cockpit Electronics Market.
Automotive Cockpit Electronics Industry Report
Statistics for the 2023 Automotive Cockpit Electronics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Cockpit Electronics analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
