LONDON, March 24, 2020 /PRNewswire/ -- Market and Volume Forecasts by Equipment (Digital Instrument Cluster, Advanced Head Unit, HUD, Camera Based Driver Monitoring System and Others), by Propulsion (ICE Vehicle and Electric Vehicle (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV) and Fuel Cell Electric Vehicle (FCEV)), by Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy commercial Vehicles) with Regional and National Market Analysis and Financial Analysis of Leading Companies
The global market for automotive digital cockpit is expected to grow with the healthy CAGR of 11.6% during the forecast period from 2020-2030. The global market is valued at $16.3 billion in 2019 and has the potential to reach $54.5 billion by the end of forecast period of 2030. Increasing vehicle production along with rising vehicle demand globally, growing number of connected vehicles, rising digitalization, and technological advancement in the field of vehicle human machine interface; are the major factors contributing in the growth of automotive digital cockpit market.
By vehicle type, passenger cars segment is the major market for digital cockpit and acquired largest share in 2019. It is anticipated that the increasing demand for connected car features in passenger cars and the adoption of semi-autonomous and autonomous vehicles across the globe will drive market growth in this segment. The push of OEM to offer their customers an improved user experience also increased the demand for a digital cockpit. Also, healthy growth in production and consumption of passenger cars especially in APAC region is further expected to fuel the demand of digital cockpit.
Asia Pacific is estimated to be the fastest growing market for automotive digital cockpit owing to the largest producer and consumer of vehicles. Presence of major developing economies such as China and India which offers exponential growth for automotive production as well as demand is the prime factor contributing in being major market for automotive digital cockpit. Over the years, the volumes of vehicle manufacturing have risen, with OEMs in this region responding not only to national demand, but also to demand from abroad.
Leading companies featured in the Automotive Digital Cockpit Market Report 2020-2030 report include APTIV, Continental AG, Denso Corporation, Faurecia, Garmin, HYUNDAI MOBIS, Nippon, Panasonic, Robert Bosch GmbH, Visteon among others. Mergers & acquisitions and joint ventures constitute some of the industry players' common strategies for reducing product price overall and maintaining extremely competitive conditions. In order to guarantee continued raw material supplies and ease of installation services, many actors in the sector create alliances with raw material providers and third-party installers.
The comprehensive report provides market estimates and forecasts for leading domestic markets across the world for the period from 2020 to 2030. In addition, the report includes dedicated leading companies covering 10 leading automotive digital cockpit industry producers.
The report on the Automotive Digital Cockpit Market Report 2020-2030 will appreciate anyone who wants to better understand the market in various vehicle types. It will be useful for companies that want to better understand the part of the market in which they are already involved or those that want to enter or expand into another regional or technical part of the Automotive Digital Cockpit industry.
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This report addresses the pertinent issues: – Where are the most lucrative market prospects? – Who are the leadings companies and what does the competitive landscape look like? – What are the regional, technical and regulatory barriers to market entry? – What are the technological issues and roadmap driving the market? – Why is the market prospering and how can you fully exploit this? – When will the market fully mature and why?