January 05, 2021
According to the research report titled ‘Global Automotive Digital Cockpit Market Analysis, 2020’, available with Market Study Report LLC, global automotive digital cockpit market is expected to grow with a CAGR of 14% during 2020-2025.
Technological breakthroughs such as development of holographic displays is one of the key factors driving the growth of global automotive digital cockpit market.
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A digital cockpit basically provides the driver with safety information, for instance through a HUD (Heads-up display) in direct field of vision. Thus, increasing production and sales of autonomous as well as electric vehicles coupled with high integration of driver assistance systems is also aiding the overall market expansion.
The report states that rapid commercialization intelligent devices have reduced the prices of LCD screens significantly, further lowering the overall cost associated with human-machine interface (HMI). This has allowed manufacturers to quickly integrate LCD technologies in vehicles at minimal costs, thereby stimulating global automotive digital cockpit industry outlook.
Focus among OEMs towards using automotive digital cockpits in mid-sized vehicles coupled with proliferating sales of premium cars is also adding traction to the overall market size. However, high costs associated with head-up display could potentially hamper global automotive digital cockpit industry remuneration.
In terms of component type, the industry is split into micro electrical mechanical system, camera & GPS/GNSS receiver, inertial navigation system, and laser segments. The report cites that global automotive digital cockpit industry share from camera & GPS/GNSS receiver segment is predicted to expand significantly during the forecast period.
From the regional point of view, Europe and North America are the leading revenue generators for global automotive digital cockpit industry. Strict regulatory outlook regarding driver safety have augmented the demand for automotive digital cockpits, which in turn is facilitating the business scenario across the two regions.
Denso Corporation, Nvidia Corp., Luxoft, Harman International Industries Inc., Pioneer Corporation, Continental AG, Visteon Corp., Aptiv plc, Faurecia, and Robert Bosch GmbH are the leading companies operating in global automotive digital cockpit market.