According to the research report titled ‘Global Cockpit Electronics Market Size study with COVID-19 impact, by Product (Head-up Display, Information Display, Instrument Cluster, Infotainment and Navigation, Telematics and Other Products), by Vehicle type (Passenger Cars and Commercial Vehicles), and Regional Forecasts 2020-2027‘, available with Market Study Report, global cockpit electronics market accounted for USD 40.24 billion in 2019 and is predicted to grow with a CAGR of 8.60% during 2020-2027.
 

Global cockpit electronics market is witnessing significant gains owing to ability of the product to provide safety to the driver from fatal accidents along with displaying additional relevant information on the instrument panel. Also, presence of strict government norms associated with telematics is driving the industry growth.
 

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For those unfamiliar, cockpit electronics is the area dedicated for providing information to driver and center stack electronics. It contains high definition radio receivers, steering, braking, traction, a navigation system, and other advent devices to ensure driver’s safety. According to the World Health Organization (WHO), approximately 1.25 million individuals die in road crashes annually with an average of 3,287 deaths a day, resulting in a loss of around USD 518 billion globally.
 

However, high price of advanced cockpit electronic systems may hamper the growth of market over the forecast years. Also, rising prevalence of COVID 19 has caused disruptions in raw material supply and temporary shutdowns of automotive production across the globe, thereby negatively impacting the global cockpit electronics industry growth in recent times.
 

In terms of product gamut, global cockpit electronics market is bifurcated into telematics, head-up display, instrument cluster, information display, infotainment & navigation, and other products. Considering the vehicle type, the market is divided into commercial vehicles, and passenger cars.
 

From a regional frame of reference, worldwide cockpit electronics industry is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. North America market is projected to record significant growth during the study period, mainly due to presence of favorable government regulations associated with telematics.
 

Whereas, Asia-Pacific cockpit electronics market size is anticipated to expand rapidly over 2020-2027, owing to increasing production of commercial and passenger vehicles, alongside rise in fatal incidents in the region.
 

Major players operating in global cockpit electronics industry sphere include Robert Bosch GmbH, Nippon-Seiki Co. Ltd., Denso Corporation, Harman International Industries Inc., Delphi Automotive PLC, Magneti Marelli S.p.A., Visteon Corporation, Continental AG, Panasonic Corporation (formerly known as the Matsushita Electric Industrial Co. Ltd.), and Yazaki Corporation.