Automotive Cockpit Electronics Market Overview
The market would demonstrate a significant increase over the next few years, witnessing the constantly rising demand from the flourishing automotive industry. In this regard, Market Research Future (MRFR) asserts that the global Automotive Cockpit Electronics Market is poised to reach exponential heights by 2027, growing at 8.52?GR, by 2027.
Automotive OEMs are increasingly focusing on improving safety solutions and high-end infotainment systems in luxury vehicles to attract more customers. Additionally, the rising sales of high-end vehicles and luxury cars push the automotive cockpit electronics market size. Massive investments into the development of cockpit electronics influence market shares.
The global automotive cockpit electronics market is proliferating, witnessing rising uptake mainly in high-end cars. Besides, the emergence of AI-based driver assistant systems takes the market value higher. Automotive cockpit electronics integrated with artificial intelligence for real-time monitoring impact the growth of the market.
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Digital transformations, the proliferation of Industry 4.0, and IoT advances across the automotive sector globally boost the cockpit electronics market value. The uptake of smart connected devices is growing regardless of vertical, increasing the market shares further. Besides, improvements in connectivity and emerging IoT applications drive the growth of the automotive cockpit electronics market.
The emergence of 5G and the rising use of robots and automated processes in automobile manufacturing factories to minimize errors and reduce downtime positively impacts market increase.
COVID-19 Impact on the Market
The recent COVID-19 pandemic affected the automotive cockpit electronics industry severely. Pandemic-led logistics problems posed major challenges, such as obtaining raw components and attracting workforces from quarantine required to develop various systems and delivering end products to the market. However, the market is gradually picking up and is expected to grow exponentially further in 2021 and beyond. Also, the market is projected to witness many innovative product launches during the years to come.
Automotive Cockpit Electronics Market Segmentation:
The market is segmented into product types, technology types, end markets, vehicle types, and regions. The product type segment is sub-segmented into information display, HUD, infotainment & navigation, telematics, instrument cluster, and others. Among these, the HUD (head-up display) segment accounts for the largest market share, witnessing the increasing demand from the luxury and premium car segment.
The technology type segment is sub-segmented into basic and advanced systems. Of these, the advanced type segment dominates the market due to its features. The end market segment is sub-segmented into economic passenger cars, luxury cars, and mid-scale priced vehicles. Among these, the luxury car segment accounts for the largest market share due to the advanced features developed in luxury cars.
The vehicle type segment is bifurcated into commercial vehicles and passenger cars. The region segment is sub-segmented into Europe, North America, Asia Pacific, the Middle East & Africa, and others.
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Regional Analysis
The Asia Pacific region leads the global automotive cockpit electronics market. Factors such as the growing sales and production of vehicles in emerging countries such as India, China, and Japan impact the automotive cockpit electronics market growth positively. Besides, the rising demand for vehicles integrated with futuristic in-cabin electronics for vehicles substantiates the automotive cockpit electronics market value.
The rise in passenger cars ownerships and a large number of passenger and commercial vehicles in this region boost the automotive cockpit electronics market share. China is expected to account for the largest market share due to increased passenger and commercial vehicles.
Automotive Cockpit Electronics Market Competitive Analysis
Highly competitive, the automotive cockpit electronics market appears fragmented due to the presence of several well-established players. Industry players incorporate strategic initiatives such as strategic partnerships, mergers & acquisitions, collaborations, expansion, and product/ technology launch to gain a larger competitive share.
For instance, on Aug.20, 2021, STMicroelectronics, a leading global semiconductor manufacturer, announced its collaboration with Eyeris, a leading global player in vision-based Artificial Intelligence (AI) software and in-cabin sensor fusion technologies, to develop integrated shutter sensor solutions for automotive in-cabin monitoring.
The collaboration aims to extend ST’s Global-Shutter sensor integrated with Eyeris’ advanced portfolio of deep neural networks for automotive cockpit applications to offer a comprehensive visuospatial understanding of the entire vehicle interior. This advanced perception supports the safety and convenience features, including occupant monitoring systems (OMS), driver monitoring systems (DMS), child presence detection, gesture control, object recognition, and activity prediction.
Key players active in the market are Continental AG (Germany), Robert Bosch GmbH (Germany), Harman International (US), Delphi Automotive PLC (UK), Visteon Corporation (US), Denso Corp. (Japan), Johnson Controls (US), Alpine Electronics Inc. (Japan), IAV (Germany), and Magneti Marelli (Italy), among others.
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