The global automotive digital cockpit market size is expected to reach USD 29.19 billion by 2028 according to a new study by Polaris Market Research. The report “Automotive Digital Cockpit Market Share, Size, Trends, Industry Analysis Report, By Equipment (Digital Instrument Cluster, Driving Monitoring System, Heads-up Display); By Display (LCD, TFT-LCD, OLED); By Vehicle; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The factors favoring the global market growth include an increase in the proliferation of connected cars and autonomous vehicles, growing innovation in the vehicle-human interface, artificial intelligence, and virtual reality, and a surging focus of users towards comfort and safe driving. Furthermore, the demand for such cockpits with the ever-increasing demand for connected infotainment solutions is increasing in the industry.
As per the industry estimates, more than 90% of passenger cars on the road will link to the internet with the help of 3G/4G connectivity by 2022. Thus, the rising acceptance and usage of these auto systems is an important driver boosting industry growth.
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With a surge in vehicle production over the past decade, the product can deliver driver access to maps and media utilizing instrumental clusters, wireless connectivity, and HMI applications in the vehicle, enhancing the focus, attention, and driving experience on the road. Moreover, as per the International Organization of Motor Vehicle Manufacturers (OICA), globally, the car's production is estimated at nearly 73.5 billion in 2017.
With the rising rate of vehicle production, manufacturers are shifting their interest towards the modernization of automobiles, thereby the adoption of the product is increasing worldwide. Globally, numerous central and state governments from different geographical nations are framing norms and policies for expanding the extent of automotive cockpit infrastructure and newer technologies rather than utilizing conventional techniques.
This initiative planned to incorporate advanced technologies in manufacturing and focused on creating a more autonomous vehicle, which, in turn, is projected to strengthen the demand for the automotive digital cockpit industry.
Market Participants such as MOBIS INDIA LIMITED, Denso Corporation, Calsonic Kansei Corporation, Continental AG, Yazaki, DESAY Industry, Clarion, Faurecia, Aptiv, Garmin, HARMAN International, Japan Display, Inc., Luxoft, Magna International, Marelli Holdings Co., Ltd., ZF Friedrichshafen AG, Pioneer Corporation, PREH GMBH, Robert Bosch GmbH, Valeo, Visteon Corporation, Wayray, and Panasonic Automotive Systems Europe GmbH are some of the key players operating in the global market.
Polaris Market Research has segmented the automotive digital cockpit market report on the basis of equipment, display, vehicle, and region:
Automotive Digital Cockpit, Equipment Outlook (Volume, Units; Revenue, USD Billion; 2016 - 2028)
Automotive Digital Cockpit, Display Outlook (Volume, Units; Revenue, USD Billion; 2016 - 2028)
Automotive Digital Cockpit, Vehicle Outlook (Volume, Units; Revenue, USD Billion; 2016 - 2028)
Automotive Digital Cockpit, Regional Outlook (Volume, Units; Revenue - USD Billion, 2016 - 2028)