The Worldwide Automotive Digital Cockpit Industry is Likely to Reach $37.6 Billion by 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Automotive Digital Cockpit Market: Analysis By Equipment, By Vehicle Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.

The global automotive digital cockpit market in 2021 was valued at US$20.94 billion, and is likely to reach US$37.65 billion by 2026.

As vehicles evolve into moving data terminals, the rising penetration of intelligent cockpit, which consists of heads-up display (HUD), domain control unit (DCU), in-vehicle infotainment (IVI), digital instrument cluster (DIC), and digital mirror among others can be seen. The digital cockpit is an all-digital, software-defined dashboard system that assists drivers and passengers with critical driving operations. The digital cockpit integrates instrument clusters, infotainment, navigation, ADAS, proactive AI, comfort controls, and more into a single platform via multi-modal interfaces.

Increased use of in-vehicle telematics, infotainment systems, safety and pollution sensors, navigation, and the internet of things is a major driver of demand for the automotive digital cockpit market in recent years. As passenger automobiles evolve, the next generation of automobiles will be more autonomous, networked, electric, and software dependent.

This is anticipated to raise demand for the in-car experience in newly redesigned automobiles. The automotive digital cockpit market is projected to grow at a CAGR of 13.22% during the forecast period of 2022-2026.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic had a negative impact on the global automotive digital cockpit market. As a result of the pandemic and 2019 recession, there was a heightened fall in demand for automobiles which resulted in lower production rate of automobiles across the globe.

Further, supply disruption created major gaps in the manufacturing of automobiles. In the coming years, the market is predicted to grow at a faster rate, owing to changes created during the pandemic. Some changes would be observed in the post-COVID era, such as widespread loss of consumer confidence on purchasing advanced and luxurious car features, redirection resources to support ongoing operations, more R&D funds, etc.

Market Dynamics

Drivers

• Increased Disposable Income of Intended Audience
• Growing Production of Automobiles
• Improved ADAS Functionalities
• Rise in demand for In-Vehicle Infotainment System (IVI)
• Transformation of Digital Cockpit Architecture
• Autonomous Driving

Challenges

• Constant Pressure of Improving User Experience
• Cyber Security Threats

Trends

• In-Car Commerce and On-demand Connected Car Services
• Intelligent Cockpit Content per Vehicle to More than Double from Current in China
• 5G Upgrades
• Personalized Smart Digital Cockpit
• Rise in Android Automotive Operating System
• Fall in Prices due to Intense Competition
• Software-defined Vehicles

Market Segmentation Analysis:

• By Equipment: The report splits the global automotive digital cockpit market into three different segments based on the type of equipment: driving monitoring system, digital instrument cluster and head-up display. The driving monitoring system segment accounted for about half of the automotive digital cockpit market in 2021, owing to the growing emphasis on passenger safety and comfort while driving. This emphasis on passenger/driver safety is demonstrated by actions made by automotive manufacturers, such as the incorporation of seat belts, airbags, and ABS (anti-lock braking) in vehicles, as well as government laws mandating such systems.
• By Vehicle Type: The market report has segmented the global automotive digital cockpit market into two segments on the basis of type: passenger vehicle, and commercial vehicle. Passenger vehicle segment held around 79% of the share in automotive digital cockpit market in 2021, while also being the fastest growing segment during the forecast period, due to several countries in the Asia Pacific, North America, and Europe have introduced regulations that mandate the integration of several types of safety measures in the passenger car segment.
• By Region: According to this report, the global market can be divided into five major regions, on the basis of geographical areas: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. The Asia Pacific automotive digital cockpit market enjoyed the major share of 41% of the total of the global market share in 2021, primarily owing to the increasing production and sales of passenger vehicles, and the high demand for automobiles and increasing income levels have resulted in the rising growth of mid-sized premium and luxury car segments in the region. The region is the emerging region in the global market, growing at a CAGR of 14.2% due to India and China which are the Asia-Pacific region's fastest expanding economies, signaling abundant growth potential for the development of the connected car industry.

Companies Mentioned

• Aptiv PLC
• Business Overview
• Business Strategy
• Continental AG
• Denso Corporation
• DXC Technology Company (Luxoft Holding Inc.)
• Forvia
• Gramin Ltd.
• Hyundai Motor Company (Hyundai Mobis)
• Nippon Seiki Co. Ltd.
• Operating Segment
• Panasonic Corporation (Panasonic Automotive Systems Europe)
• Pioneer Corporation
• Rbert Bosch GmbH
• Samsung Electronics (Harman International)
• Visteon Corporation

For more information about this report visit https://www.researchandmarkets.com/r/olazgx