Automotive Digital Cockpit Market Size was valued at USD 24.14 billion in 2023 and is expected to reach USD 52.74 billion by 2031 and grow at a CAGR of 10.03% over the forecast period 2024-2031.
The Automotive Digital Cockpit Market is primed for substantial expansion, driven by a convergence of factors. Notably, heightened consumer demand for premium in-car experiences replete with entertainment, connectivity, and safety features is fueling the need for advanced digital cockpits. Concurrently, regulatory mandates such as the European Union's directive for the integration of advanced driver-assistance systems (ADAS) in new vehicles by 2022 are necessitating the deployment of sophisticated digital cockpit solutions to convey critical information effectively. Moreover, initiatives like China's "Made in China 2025" strategy, which allocates significant investments towards electric vehicles (EVs) with a focus on intelligent connectivity, are anticipated to significantly boost digital cockpit adoption in the largest automotive market globally.
This growth trajectory is further supported by substantial industry investments. In 2022 alone, automotive manufacturers committed a substantial USD 62.17 billion towards research and development initiatives, a trend that is expected to persist in the future.
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KEY DRIVERS:
Increasing the number of vehicles produced.
Electric vehicles are experiencing a surge in popularity.
An increasing need for vehicles with a better user experience.
Escalating worries about the safety of both drivers and passengers.
The industry benefits from OEMs' promotion as cutting-edge features and from consumer's use.
As advancements like heads-up displays and gesture control enrich the driving experience, concerns surrounding driver distraction and cyber threats compromising vehicle control have escalated. Consequently, a fundamental shift has occurred within the automotive industry, prompting substantial investments in resilient cybersecurity protocols and user-friendly interface design aimed at enhancing driver concentration. The future trajectory of this sector pivots on crafting an in-car experience that seamlessly blends safety and functionality, necessitating substantial allocations towards research and development. Striking a harmonious equilibrium between technological advancement and driver welfare is imperative for sustained growth and competitive edge in the market.
RESTRAINTS:
The high price of a digital cockpit.
The market is projected to be hampered by fluctuations in raw material prices.
OPPORTUNITIES:
Breakthroughs in in-car human-machine interface technology.
Rising middle-class incomes, and expanding economies.
Holographic displays, which are becoming increasingly common, offer growth prospects for the market.
Holographic displays, previously confined to the realms of science fiction, are swiftly transitioning into tangible features within automotive dashboards. These three-dimensional projections present a visually engaging and data-rich interface for drivers. With a shocking $1 billion poured into holographic display technology by 2022, and a projected market valuation soaring to $11.55 billion by 2027 according to SNS Insider, this emerging trend stands to profoundly influence the automotive digital cockpit market. Picture a speedometer seemingly suspended above the steering wheel, or navigation instructions seamlessly integrated onto the road ahead.
CHALLENGES:
As a result of the pandemic that is currently going on, the market might experience some difficulties.
Productivity and supply chains have been severely disrupted because of the global pandemic.
Supply chain disruptions, notably in the sourcing of critical resources like neon gas from Ukraine and palladium from Russia, are poised to impede innovation and hinder market expansion. Major automotive manufacturers are taking proactive measures in response; Volkswagen, for example, forecasts a reduction in production of 80,000 vehicles in 2023 due to chip scarcities. Consequently, companies may reassess their investment strategies, favoring the enhancement of existing digital cockpit features over the development of cutting-edge technologies. The long-term repercussions of the conflict depend heavily on the speed at which alternative supply chains can be established and production resumes in the affected region.
During an economic downturn, automakers may need to implement cost-saving measures, potentially leading to reduced investments in research and development (R&D) for cutting-edge digital cockpit technologies such as holographic displays and advanced driver assistance systems. Recent announcements by companies like Ford, which revealed a $3 billion spending cut in 2023, underscore this trend.
Nevertheless, amidst the economic challenges, there are opportunities for companies to thrive. As inflation squeezes consumer budgets, there is a growing demand for mid-range vehicles equipped with essential digital cockpit features like enhanced connectivity and in-car entertainment, offered at more accessible price points. This shift presents an opportunity for businesses capable of delivering cost-effective digital cockpit solutions to capture market share. To succeed in this evolving landscape, industry players must adapt their strategies to meet the changing preferences of budget-conscious consumers. Flexibility and innovation will be critical in navigating the complexities of the current economic climate and capitalizing on emerging market trends.
Based on the equipment segment, the global market has been divided into Digital Instrument Cluster, Driving Monitoring System, and Head-up Display (HUD). The driver monitoring system category accounted for 48.3% of the market for the vehicle digital cockpit in 2023. More than 11.7 percent volume-based CAGR is predicted for the head-up display market in the forecast period. In a head-up display (HUD), information is shown directly in the driver's line of vision.
The global market has been divided into LCD, TFT-LCD, and OLED based on the display technology segment. TFT-LCD displays dominated the vehicle digital cockpit market in 2023, accounting for 55.0% of revenue. TFT LCDs are utilized in digital cockpit displays to meet temperature and durability demands. The OLED display segment is expected to grow 12.0% from 2024-2031.
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The global market has been divided into passenger cars and commercial vehicles based on the vehicle type segment. Passenger cars accounted for more than 80% of the market for automotive digital cockpits in 2020, according to a new report. Passenger car demand for connected car features is likely to rise, as will the introduction of self-driving cars. A CAGR in excess of 10% is predicted for the commercial vehicle market throughout the forecast period.
By Equipment:
Digital Instrument Cluster
Driving Monitoring System
Head-up Display (HUD)
By Display Technology:
LCD
TFT-LCD
OLED
By Vehicle Type:
Passenger cars
Commercial vehicles
REGIONAL ANALYSIS:
The automobile digital cockpit market was dominated by the Asia Pacific in 2023, with a revenue share of 55.6%. Over the forecast period, it is expected to maintain its lead with a CAGR of more than 11%. The region's rising production and sales of passenger cars are to blame for this expansion. There is a growing need for automobiles in the region, which has led to an increase in the market for mid-sized premium and luxury car sectors. A significant portion of the overall automobile digital cockpit market has been taken in Europe. Automotive OEMs and high-end automobile manufacturers have a strong presence in the region. OEMs have invested heavily in the region's automotive manufacturing sector. The market is expected to be propelled forward by the presence of advanced automotive display features in the cars of the majority of luxury car manufacturers in the region.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Continental AG; Robert Bosch GmbH, Faurecia; Garmin Ltd.; Denso Corporation; HARMAN International; Hyundai Mobis; Panasonic Corporation, Pioneer Corporation; Visteon Corporation are some of the affluent competitors with significant market share in the Automotive Digital Cockpit Market.
HARMAN, a subsidiary of Samsung, is strategically prioritizes partnerships and acquisitions to enhance its portfolio of products, ensuring sustained competitiveness. This approach is anticipated to persist as the company seeks to maintain its leading position in the market.
Bosch, renowned for its expertise in driver monitoring systems, remains at the forefront of innovation within this domain. It is likely that Bosch is advancing its camera-based technology, possibly through refinement or integration with complementary features, to offer an even more sophisticated driver state detection system.
Denso Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 24.14 Billion |
| Market Size by 2031 | US$ 52.74 Billion |
| CAGR | CAGR of 10.03% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Equipment (Digital Instrument Cluster, Driving Monitoring System, Head-up Display (HUD)) • by Display Technology (LCD, TFT-LCD, OLED), by Vehicle Type (Passenger cars, Commercial vehicles) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Continental AG; Robert Bosch GmbH, Faurecia; Garmin Ltd.; Denso Corporation; HARMAN International; Hyundai Mobis; Panasonic Corporation, Pioneer Corporation; Visteon Corporation |
| Key Drivers | •Increasing the number of vehicles produced. •Electric vehicles are experiencing a surge in popularity. •An increasing need for vehicles with a better user experience. |
| RESTRAINTS | •The high price of a digital cockpit. •The market is projected to be hampered by fluctuations in raw material prices. |
A digital cockpit is a collection of digital instruments, such as an infotainment system, that are installed in a motor vehicle to provide the driver with trustworthy information regarding the vehicle's safety. These instruments often include one or more digital screens and knobs.
The market is expected to reach USD 50.42 billion by 2030.
Continental AG, Robert Bosch GmbH, Faurecia, Garmin Ltd.; Denso Corporation, HARMAN International, Hyundai Mobis, Panasonic Corporation, Pioneer Corporation, and others in final report.
The forecast period of Automotive Digital Cockpit Market 2023-2030.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Global Automotive Digital Cockpit Market Segmentation, By Equipment
9.1 Introduction
9.2 Trend Analysis
9.3 Digital Instrument Cluster
9.4 Driving Monitoring System
9.5 Head-up Display (HUD)
10. Global Automotive Digital Cockpit Market Segmentation, By Display Technology
10.1 Introduction
10.2 Trend Analysis
10.3 LCD
10.4 TFT-LCD
10.5 OLED
11. Global Automotive Digital Cockpit Market Segmentation, By Vehicle Type
11.1 Introduction
11.2 Trend Analysis
11.3 Passenger cars
11.4 Commercial vehicles
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 Faurecia,
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Continental AG
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Robert Bosch GmbH
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Garmin Ltd.
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Denso Corporation
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 HARMAN International
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Hyundai Mobis
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Panasonic Corporation
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Pioneer Corporation
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Others
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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