Automotive Cockpit Electronics Market Exhibits High Growth Rate by 2025, Driven by Rising Demand For Safety and Comfort Features in Vehicles

Automotive Cockpit Electronics  Market
  • Report code : PMRREP2837 |
  • Industry : Automotive |
  • Published On : Jan-2015 |
  • Pages : 77 Pages |
  • Format : Automotive Cockpit Electronics  Market Automotive Cockpit Electronics  Market Automotive Cockpit Electronics  Market Automotive Cockpit Electronics  Market

The automotive cockpit electronics market is poised to witness a high growth rate by the end of 2025. This growth is primarily driven by the escalating demand for enhanced safety and comfort features in vehicles.  The market also gets impetus from government regulations formed for safety in the automotive sector. The introduction of a wide range of sensors along with modern automotive control amenities play a vital role in introducing developments in the automotive cockpit electronics.

The stagnant automotive sector in the COVID-19 pandemic has negatively influenced the global market, halting its progress. The growth is estimated to resume with initialization of normal manufacturing activities in different sectors.Owing to the high demand for high-end features in vehicles, North America is expected to attain a significant position in the market by the end of the forecast period.  The surge in applications such as vehicle to vehicle communication is projected to escalate the development of the market in the region.                                                      

Market players are exploring opportunities in raging functionalities such as connected cars and advanced vehicle infotainment systems.  Established players in the global market include Harman International Industries, Inc., Delphi Automotive Plc, DENSO CORPORATION., Robert Bosch GmbH., Visteon Corporation., Clarion Company, Ltd., Garmin, Ltd., and Continental AG.

The global cockpit electronics market comprises of luxury goods that are focused on enhancing driving experience by creating comfortable atmosphere inside the vehicle. The market is also concerned with the electronics that improves the safety of the driver and passengers. For building a suitable balance between comfort, safety and entertainment, the global cockpit electronics market provides solutions that offer display systems, optimal design, ergonomics and the overall feel of the cockpit. The global automotive cockpit electronics market registered revenues worth USD 31.1 Bn in 2013, which are expected to raise up to USD 61.5 Bn by the end of 2020. Over the forecast period 2014-2020, the global automotive cockpit electronics market will expand at a healthy CAGR of 12.0%. 

Key Market Dynamics 

Some of the major drivers contributing to the overall growth of the automotive cockpit electronics market include increasing consumer awareness regarding advanced technologies, increasing per capita income of consumers, growing demand for technically advanced cars, and changing demand for vehicle electronics from analog to digital. Advancements in technology have given rise to market competition owing to which major leading organizations are heavily investing in R&D activities. However, complicated hardware and software designs and high expenditure in terms of manufacturing are challenges to the automotive cockpit electronics market. 

Segment Analysis 

Based on the product type, the global automotive cockpit electronics market is segmented into market size and forecast (by value), infotainment & navigation and audio & connectivity. Among these, the market size and forecast is fragmented as information and controls (electronic power assisted steering (EPAS) and tire pressure monitoring systems (TPMS), head-up display). Also, the segment of infotainment and navigation is further bifurcated as rear-seat entertainment and navigation. Moreover, the segment of audio and connectivity is classified as audio systems and wireless systems. 

Regional Analysis 

Based on geographical region, the global automotive cockpit electronics market is segmented into North America, Europe, Asia Pacific, and rest of the world. According to the International Transport Forum of Organization for Economic Cooperation and Development (OECD), the no. of cars plying worldwide is expected to reach 2.5 Bn by the end of 2050. There has been substantial rise in ownership of passenger cars in the Eastern Europe and Arab countries. Being a logistics hub for Europe, Germany is one of the countries having largest no. of commercial vehicles. BRIC countries are anticipated to be the key growth drivers in the industry of automotive. In the market for cockpit electronics, certain developing countries are recording high growth rates. And Brazil was among the sixth largest producer of automobile across the globe. 

Key Market Players 

Major companies operating in the automotive cockpit electronics market are Robert Bosch GmbH, Visteon Corporation, Alpine Electronics Inc, Panasonic Corporation, Continental AG, Garmin Ltd, DENSO CORPORATION, Harman International Industries Inc, Clarion Company Ltd, Delphi Automotive Plc, among others. These companies are making new investments to improve their technology in order to retain their competitiveness in the industry.

With the increasing number of road accidents, vehicle owners are turning towards more automated vehicles. Stringent regulations are leading to the inclusion of advanced features in passenger cars including tire pressure monitoring system (TPMS), electronic stability control, and occupant detection. With the tightening of regulations for the passenger car manufacturers, plenty of opportunity awaits the automotive cockpit electronic companies in the near term. 

Persistence Market Research’s recently published report on the global automotive cockpit electronics market provides an extensive assessment of the market, evaluating the growth prospects for a six-year forecast period 2014-2020. It comprises key trends and restraints impacting the overall market growth, recent trends and upcoming opportunities, market segmentation, regional analysis, and key players vying for the leading market position. Starting with an overview of the global automotive cockpit electronics market, the report further analyzes the factors that positively and negatively influence the demand for automotive cockpit electronics. It provides deep insights into why automotive cockpit electronics is expected to gain higher traction in developing markets, and what are the deterring factors that will affect the market growth over the forecast period, 2014-2020.  Latest trends and opportunities sections of the report highlight the most valuable data to recognize the most lucrative opportunities for the market growth. 

Segmentation of the global market for automotive cockpit electronics focuses on various automotive cockpit electronics product types. The geographical analysis of the global market examines the market status in four key regions viz. Europe, North America, Asia Pacific, and RoW. The market report elaborates on why developing markets may witness robust growth and outpace the long-term leader during the forecast period. The next section of the report includes all the leading companies competing in the market for a leading position. Strong presence of global players and established local brands makes the landscape extremely competitive. The report throws light on the growth pattern, revenues, and upcoming opportunities for each of the players. 

Research Methodology 

To deduce the global automotive cockpit electronics market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global automotive cockpit electronics market. 

The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global automotive cockpit electronics market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities. 

Another key feature of this report is an analysis of the global automotive cockpit electronics market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global automotive cockpit electronics market. Further, to understand key segments in terms of their growth and overall global automotive cockpit electronics market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global automotive cockpit electronics market.

Companies covered in Automotive Cockpit Electronics Market Report

Company Profiles:

  • Continental AG.
  • Visteon Corporation.
  • Harman International Industries, Inc.
  • Alpine Electronics, Inc.
  • Clarion Company, Ltd.
  • Panasonic Corporation.
  • Delphi Automotive Plc
  • Robert Bosch GmbH.
  • Garmin, Ltd.
  • Other

Automotive Cockpit Electronics Market

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