Surging Demand & Integration of Digital Cockpits are Major Market Trends
Automotive Digital Cockpit Competitive
Landscape:
The automotive digital cockpit market
appears highly competitive and fragmented, with several well-established
players forming a competitive landscape. These players incorporate approaches
such as strategic partnerships, mergers & acquisitions, expansion,
collaboration, and product/technology launch to gain a larger competitive
share.
For instance, on Aug.16, 2021, Faurecia
(France), a leading automotive supplier, announced the acquisition of the
majority 60% equity stake in Hella, a lighting and electronics specialist. Thus,
the two companies would become the seventh-largest global automotive supplier,
combining their technologies and power. Faurecia also plans to acquire the
remaining equity share, which makes the 100% of Hella.
Global Automotive Digital Cockpit Market
Overview:
The automotive
digital cockpit market is garnering significant traction. The introduction
of innovative driver assistance systems (ADASs) that demand the integration of
digital cockpits with safety systems is a major driving force. Moreover, the
rising demand for advanced automotive cabins escalates the digital cockpit
market size. The scaling demand and AI evolutions integrated with digital
cockpit systems drive the market growth.
With the proliferation of infotainment
systems, the market is projected to reach significant heights. In this regard,
Market Research Future (MRFR) states that the global automotive digital cockpit
market is estimated to create a substantial revenue pocket by 2030, growing at
a phenomenal CAGR during the assessment period (2023 – 2030). Rising uptake of
digital cockpit systems in high-end cars boosts the market size.
Rising Sales of Luxury & Premium
Cars Upend Market Demand
Digital cockpits are installed to gain
reliable safety information by accessing maps and media with instrumental
clusters installed within a vehicle. In addition, these cockpits enable the
driver to improve focus and attention on the road by utilizing HUD to access
relevant driving information in their direct field of vision.
Digital cockpits, along with a cluster of
digital instruments and infotainment systems, provide better safety features to
drivers, featuring one or more displays. Similarly, stringent government norms for
automotive safety features impact the adoption trends positively. Moreover,
technological advances and the increasing awareness for safety features
influence the growth of the market.
Technical Complexities Hamper Market
Growth
Despite vast prospects, the market still
faces some underlying setbacks, such as complex structures and the low
efficiency of optical systems. Also, the high costs associated with the
installation and maintenance of digital cockpits are some of the major factors
impeding the market growth.
Nevertheless, constant advancements in
infotainment systems would support market growth throughout the assessment
period. Advanced automobiles and luxury car industries worldwide define the
growing market landscape. Continually increasing demand for personalized
comfort features in a vehicle is expected to allow the market to register a
high growth rate.
COVID- 19 Impacts
The COVID- 19 pandemic affected the
automotive digital cockpit industry severely. Pandemic-led logistics problems
posed major challenges to industry players, such as obtaining raw components
required to develop an automotive voice recognition system, attracting
workforce from quarantine, and delivering end products. However, the automotive
digital cockpit market is gradually picking up and is expected to grow
exponentially during the assessment period.
Segmentation
The report is segmented into equipments,
vehicle types, propulsion, and regions. The equipment segment is sub-segmented
into head unit display (HUD), camera-based driver monitoring system, digital
instrument cluster, and others. The vehicle type segment is sub-segmented into
light commercial vehicles (LCV), heavy commercial vehicles (HCV),
and passenger cars (PC).
The propulsion segment is sub-segmented
into battery electric vehicle (BEV), hybrid electric vehicle (HEV), internal
combustion engine (ICE), plug-in hybrid electric vehicle (PHEV), and others.
The region segment is sub-segmented into Europe, Americas, Asia Pacific, and
the Rest-of-the-World.
Regional Analysis
Europe accounts for the largest automotive
digital cockpit market value globally. The region is the global hub for
luxuries, and high-end car manufacturers drive the automotive digital cockpit
market growth. Besides, the surging demand for luxury/ premium cars and SUVs
equipped with automotive digital cockpit systems substantiates the market
growth.
The vast presence of major automotive OEMs
and tier-1 suppliers positively impacts the automotive digital cockpit market
share. Additionally, OEMs constantly working on enhancing the conventional
cockpit fosters regional market growth. Germany accounts for the largest
automotive digital cockpit industry in the region, housing the world's largest
luxury car brands.
By combining their respective strengths, Faurecia
and Hella aim to further expand their market position, particularly in the area
of the cockpit of the future and key growth areas such as electric mobility,
automated driving, and vehicle interior design. The combined entity would also
further strengthen its position across customers and regions.
Key players active in the market are Robert
Bosch GmbH (Germany), Continental (Germany), Denso Corporation (Japan),
Panasonic Corporation (Japan), Faurecia (France), Aptiv (Ireland), Harman
International (US), Pioneer Corporation (Japan), Nippon Seiki Co., Ltd (Japan),
and Visteon Corporation (US), among others.
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