DUBLIN, Feb. 26, 2024 /PRNewswire/ — The “Automotive Cockpit Electronics – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Automotive Cockpit Electronics Market to Reach $49.1 Billion by 2030
The global market for Automotive Cockpit Electronics estimated at US$29 Billion in the year 2022, is projected to reach a revised size of US$49.1 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2022-2030. Infotainment & Navigation, one of the segments analyzed in the report, is projected to record a 7.3% CAGR and reach US$17.8 Billion by the end of the analysis period. Growth in the Information Display segment is estimated at 6.8% CAGR for the next 8-year period.
The global economic update sheds light on the prevailing economic conditions worldwide, including the impact of the pandemic on various industries. Specifically, in the automotive sector, the report highlights the competitive scenario within the automotive cockpit electronics market. Vendors are intensifying their focus on product innovation to gain a competitive edge in this market segment.
Amidst this competitive landscape, market participants are driving innovations and advancements in automotive cockpit electronics. These innovations aim to enhance safety and driving experiences for consumers. The report also provides insights into the market share of key competitors in the automotive cockpit electronics market, along with an analysis of their competitive presence globally.
An introduction to automotive electronics sets the stage for understanding the significance of cockpit electronics in advancing the automotive space. With factors favoring the adoption of automotive cockpit electronics, the market is poised for significant growth despite the challenges posed by the COVID-19 pandemic.
The U.S. Market is Estimated at $8.4 Billion, While China is Forecast to Grow at 8.2% CAGR
Infotainment and navigation systems remain crucial contributors to the automotive cockpit electronics market. Regional analysis reveals that the Asia-Pacific region is experiencing rapid growth in this market segment, outpacing North America.
The Automotive Cockpit Electronics market in the U.S. is estimated at US$8.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$10.5 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 5.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.8 Billion by the year 2030.
MARKET TRENDS & DRIVERS
- Encouraging Outlook for Automobile Production Despite Disruptions Bodes Well for the Automotive Cockpit Electronics Market
- Global Light Vehicle Production (In Million Units) for Years 2019 through 2025
- Smart Cockpits Gain Momentum, Automotive SiP Modules Facilitate the Trend
- Computing Capability of the Smart Cockpit: An Insight
- Vehicle Electronification Trends Aid Cockpit Electronics Market Sustain the Momentum
- Emphasis on Electric Vehicles to Fuel Robust Demand
- Autonomous Vehicles: Another Growth Vertical for Cockpit Electronics
- Connected Cars Solidify the Relevance of Integrated Cockpit Electronics
- How Developers of Connected Cars Are Responding to Evolving Customer Expectations
- Rising Interest in HUDs to Underpin Revenue Growth
- Augmented Reality Enabled Futuristic HUDs Seek Role
- Increasing Demand for On-Board Infotainment & Navigation Systems Bodes Well
- Emergence of Automotive Digital Cockpit Set to Transform In-Vehicle Experience
- Modern Infotainment Systems Enable Differentiated In-Vehicle Experience
- Growing Reliability of In-Car Internet & Networking to Fuel Demand for Infotainment Systems
- Advanced On-Board Infotainment Systems Make Their Way Into the Market
- Evolving Role of V2X to Further Enhance the Importance of Cockpit Electronics
- Cockpit Electronics Becomes Relevant in Electronic Toll Collection
- Telematics: Key Cockpit System in Modern Automotive Vehicles
- ITS Spurs Demand for Embedded Telematics ECU
- Smartphones Incorporate Additional Convenience in Cockpit Electronic Systems
- Smartphone Apps Improve Usability of Cockpit Systems
- 5G Cellular Connectivity to Widen Addressable Market for Cockpit Electronics
- New Generation Software Tools Widen Market Prospects
- Advancements in Semiconductor Technology Rev Up Market Opportunities
- Evolution in HMI Technology Instigates Amendments to Cockpit Electronics Design
- HMI Advancements Driven by Customer Expectations
- Altia Offers New HMI Platform for Advanced Automotive Cockpit Display Applications
- Instrument Panels and Control Panels Witness Design Enhancements
FOCUS ON SELECT PLAYERS (Total 71 Featured)
- Denso Corporation
- Daimler AG
- Continental AG
- Alps Alpine Co., Ltd.
- Pioneer Corporation
- HARMAN International Industries, Inc.
- JVCKENWOOD Corporation
- Garmin Ltd.
- Clarion Co., Ltd.
- Innolux Optoelectronics Co., Ltd.
- AvanStrate Inc.
- Peratech Holdco Ltd.
- Huizhou Desay SV Automotive Co., Ltd.
- Nippon Seiki Co Ltd
- Envisics
For more information about this report visit https://www.researchandmarkets.com/r/tlxdi9
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