Cockpit electronics market Future, Current and Future Plans by Forecast 2022
Market Research Future's study of the global market has determined significant growth for the global Cockpit electronics market during the forecast period. Automotive cockpit electronics enhance the driving experience by increasing driving comfort as well as increase safety for both driver and passengers.
Automotive cockpit electronics are available in nearly every vehicle as they consist of instrument panels and other important controls which assist in smooth driving. Relevant information is often displayed in the automotive cockpit and also includes various technologies such as integrated infotainment systems, driver assistance systems, and instrument clusters.
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Johnson Controls (U.S.), Harman International (U.S), Continental AG (Germany), Robert Bosch GmbH (Germany), Delphi Automotive PLC (U.K), Visteon Corporation (U.S), Denso Corp. (Japan), IAV (Germany), Alpine Electronics Inc. (Japan), and Magneti Marelli (Italy) are some prominent names in the global Cockpit electronics market , profiled by MRFR.
Innovative technologies such as heads-up display, and increasing demand and awareness of safety in automotive vehicles has drastically increased the demand for automotive cockpit electronics. The evolution of the driver assistance system and other technologies included in automotive cockpit electronics have also had a significant hand in improving demand and adoption. Moreover, the presence of a truly impressive demand for automotive vehicles which is increasing consistently is also a substantial factor driving the growth of the market. Rapid urbanization and the resultant increase in disposable incomes have increased the demand for automotive vehicles, particularly in emerging economies of the globe.
The high safety standards being demanded and employed in vehicles is another driver of the global Cockpit electronics market . Moreover, the increasing demand for luxury vehicles has also increased the demand for advanced automotive cockpit electronics. The demand for advanced features in the instrument panel as well as the innovation around automotive cockpit electronics is expected to reveal market opportunities in the coming years.
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.
The segment analysis of the Cockpit electronics market is done by product type, end market, technology type, and vehicle type.
The product type based segments of the Cockpit electronics market are infotainment & navigation, information display, HUD, telematics, instrument cluster, and others. The Head-up display segment can cause escalation in the annual revenue generation for the market through the study period. The Cockpit electronics market surge can be attributed to the continuous increase in the demand for Head-up display in the luxury automobiles and premium vehicles. The increase in awareness about head-up display safety features can underpin the rise of the automotive cockpit electronics in the years to come.
The technology type based segments of the advanced cockpit electronics market are advance information display, Windshield head-up display, and advance telematics other systems. The Windshield head-up display segment can create high traction which is expected to promote the expansion of the market in the years ahead.
The end market based segments of the automotive cockpit electronic market are OEM and aftermarket. The increase in the focus of Automotive OEMs on the development of high end display and infotainment systems in luxury vehicles can drive the automotive cockpit electronic market in the future.
Trends of the global automotive cockpit electronic market is studied across North America, APAC, EU, and the Rest of the World. The increase in the demand for automotive cockpit electronics due to the high sales of automobile can impel the expansion of the Cockpit electronics market in the Asia Pacific region. As per MRFR regional assessment, the automotive cockpit electronic market in APAC can secure the largest share in of the global market.
The surge in the Cockpit electronics market in the study period due to the rise in the demand for vehicle across emerging regions can support the expansion of the market through the analysis period. The increase in the demand for cockpit electronics module and surge in the production threshold of vehicles can promote the expansion of the market in the analysis period.
In Europe, the automotive cockpit electronic market is anticipated to register the second largest share in the forecast period due to the increase in the ownership of numerous passenger cars in Europe. Germany can head EU automotive cockpit electronic market across the review period. In North America, the high volume of passenger and commercial cars can support the expansion of the Cockpit electronics market through the study period. The rise in the commercial and passenger vehicle can contribute significantly to expansion of the automotive cockpit electronic market in near future.
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