New York, US, March 02, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Digital Cockpit Market Information by Equipment, Vehicle Type, Propulsion and Region - Forecast till 2030”, The Automotive Digital Cockpit Market could reach USD 31861.21 Million by 2030, at a CAGR of 9.5% from 2022 to 2030.
Automotive Digital Cockpit Market Overview
A digital cockpit is one of the most essential vehicle components that is designed to elevate the safety of the driver by offering accurate information. It is fitted in the car to provide the consumer with the finest experience of a trustworthy vehicle. Its digital cockpit allows the driver to access media and map information via instrumental clusters fitted within the vehicle.
Furthermore, the digital cockpit assists the driver in maintaining their focus on the road. It incorporates HUD augmentation, which displays vital driving information in their direct vision field. Also, the development of adaptive driving assistance systems (ADAS) for driver safety is putting pressure on automobile Producers. These sophisticated features drive car OEMs to integrate safety systems with digital cockpits, raising the need for modern automotive interiors in vehicles. Furthermore, various advanced support elements are being developed for improved driver safety where digital cockpits are linked with infotainment systems and a cluster of digital gauges.
Market Competitive Landscape:
The important firms in the automotive digital cockpit industry are
- Faurecia (France),
- Aptiv (Ireland),
- Continental (Germany),
- Robert Bosch GmbH (Germany),
- Panasonic Corporation (Japan),
- Denso Corporation (Japan),
- HARMAN International (US),
- Visteon Corporation (US),
- Pioneer Corporation (Japan),
- Nippon Seiki Co., Ltd (Japan)
- Among others.
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Because of the digital cockpits, automotive infotainment systems have access to a variety of functions, including the integration of third-party driver assistance systems, 2D/3D map display, voice guidance, location search, marker sets, hybrid position, route guide, player, route planning, and route learning. Furthermore, the intelligent cloud mirror is constituted of the digital cockpit, which supports common hardware platforms. This can be linked to various features such as entertainment (HD video player, online music appreciation, FM network radio, photo browser, and FM audio transmitter), convenience (online or offline navigation, one-key navigation, Bluetooth call, voice interact, drive recorder, one-key car insurance service, and road rescue), and safety (ADAS, anti-theft, face recognition, tired driving notification, rear car image, and radar speed warning).
The major players provide a wide range of automotive digital cockpit components for passenger cars and commercial vehicles, including driving monitoring systems, digital instrument clusters, and Head-Up Display (HUD) units. To expand their market offerings, the corporations are focusing on producing sophisticated and technologically driven items. In order to increase their market position, they are also pursuing strategic initiatives such as geographical expansions, acquisitions, mergers, partnerships, and collaborations. Furthermore, these businesses are consolidating their market shares through M&A activity.
Automotive Digital Cockpit Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: 31,861.21 Million |
| CAGR during 2022-2030 | 9.5% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Equipment, Vehicle Type, Propulsion |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | Consumer demand for advanced user experience in the mid-priced and economy segment passenger cars is constantly increasing |
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January 2023
BMW India has introduced the third generation BMW X1 sporting activity vehicle (SAV) in both petrol and diesel configurations. Deliveries of the BMW X1 sDrive18d M Sport (diesel) will begin in March, and deliveries of the BMW X1 sDrive18i xLine (petrol) will begin in June.
Live cockpit plus with BMW Curved Display, adaptive LED headlights with high-beam assistance, My BMW App with remote functions, digital key plus with comfort access, parking and reversing assistant, Active Seats, instrument panel luxury, and Harmon Kardon audio system are among the new features.
Digital Cockpit Market USP Covered:
Automotive Digital Cockpit Market Drivers:
Considering the global scenario, the proliferation of vehicle digital cockpits is increasing at a rapid speed. With the rapid shift in mobility preferences, automotive digital cockpit systems have emerged as a feasible choice for providing car occupants with unique and advanced functionality and security capabilities, as well as increased entertainment experience possibilities.
Car manufacturers are also encouraging ADAS adoption by investing heavily in R&D in digital automobile solutions, which are mostly employed in passenger vehicles on a big scale for premium, safety, comfort, and security benefits in the automotive digital cockpit market. According to the European Automobile Manufacturers Association, European R&D investments in automotive increased by 6.7% in 2019 to approximately USD 62.17 billion each year.
With increased investments in automotive R&D, the production of commercial vehicles and passenger cars has demonstrated good market growth. As a result, the global market for vehicle digital cockpits is constantly rising. For example, in June 2021, VW will launch the new Polo in chosen inclusive automotive cockpit markets, with a digital cockpit as a primary standard. The system will combine entrainment, information, and communication to provide the user with an intuitive experience.
Automotive Digital Cockpit Market Restraints:
The global market may face constraints as a result of drivers' ignorance of the advanced features of the automotive digital cockpit.
Furthermore, the increased cost of the automobile digital cockpit and rising product demand may act as restrictions on the worldwide Automotive Digital Cockpit Market.
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Automotive Digital Cockpit Market Segmentation
By Vehicle Type:
The top vehicle types in the market are light commercial vehicles, passenger automobiles, and heavy commercial vehicles.
For the research period, the passenger car segment is expected to generate the highest Market Size in terms of value and volume.
By Equipment:
Key equipment types are digital instrument cluster display type, sophisticated head unit, head-up display (HUD), and camera-based driver monitoring system.
In the coming years, the camera-based driver monitoring system segment will gain a substantial growth rate.
By Propulsion:
The market segments, with respect to propulsion, are hybrid electric vehicles (HEV), battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), and internal combustion engines (ICE).
All of these propulsions are impactful, in terms of usefulness and quality. As a result, these segments contribute moderately to the growth of the Automotive Digital Cockpit Market Share during the assessment year.
Automotive Digital Cockpit Market COVID 19 Analysis
The COVID-19 epidemic has had a significant impact on numerous marketing fields, including the global Automotive Digital Cockpit Market. The global epidemic has wreaked havoc on the supply chain and harmed productive facilities. Along with that, production volumes fell and shipments were delayed, resulting in a massive loss for the global market. The market's total growth volume has slowed for the year 2020.
In 2020, the dynamics of the Automotive Digital Cockpit Industry changed dramatically. The leading companies have implemented innovative strategies to propel the Automobile Digital Cockpit Industry forward. The global market is predicted to increase its market share throughout the forecast period.
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Automotive Digital Cockpit Market Regional Insights
Europe has a considerable share in the worldwide market on account of the presence of tier-1 suppliers and large vehicle Manufacturers in the region. Furthermore, these OEMs are working together to develop the traditional automotive cockpit. Aside from that, the Asia-Pacific regional market is predicted to create significant market expansion throughout the given period due to consistently increasing demand for economy segment passenger automobiles and increasing advanced user experience needs by mid-priced consumers.
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