Automotive Digital Cockpit Market to Surpass USD 59.98B by 2032 Owing to Surge in Consumer Demand for In-Car Technology

Automotive Digital Cockpit Markets' rapid growth driven by the increased consumer demand for enhanced in-car experience and advanced safety features, alongside

AUSTIN, TX, UNITED STATES, November 15, 2024 /EINPresswire.com/ --

Automotive Digital Cockpit Market

The Automotive Digital Cockpit Market was USD 22.53 billion in 2023 and is expected to reach USD 59.98 billion by 2032, growing at a CAGR of 10.37% over the forecast period of 2024-2032.

The Automotive Digital Cockpit Market is Accelerating Due to Rising Consumer Expectations and Regulatory Changes in Advanced In-Car Technology.

The Automotive Digital Cockpit Market has the potential to grow as higher consumer expectations require more advanced experiences in cars. Advanced features such as seamless entertainment, connectivity, and high-level safety needs have become the need of the hour, pushing demands for next-generation digital cockpits. Regulatory measures such as those of the European Union have made it mandatory for cars to have Advanced Driver Assistance Systems, which has seen digital cockpits as one of the critical data sources fed to the drivers. China's "Made in China 2025" is highly focused on investing hugely in electric vehicles and intelligent connectivity that would lead to high usage of digital cockpits in the automotive industry.

The global trend toward integrating ADAS represents a scenario in which about 40 % of digital cockpits have high features such as adaptive cruise control and lane-keeping assist for maximizing the convenience of a driver, at the same time keeping him and other road users safe from accidents. Approximately 35 % of cockpits have high-resolution displays and infotainment systems, which align with the demands of the consumers in terms of connected and immersive vehicle environments.

Lastly, voice technology is becoming an emerging feature wherein about 25 % of digital cockpits are embedding voice recognition capability for performing operations handsfree and conveniently. Customizable, modular cockpit solutions are also trending because most manufacturers fine-tune these systems about different branding and user experience targets.

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Key Players Listed in the Automotive Digital Cockpit Market Are:

• Continental AG
• Robert Bosch GmbH
• Faurecia; Garmin Ltd
• Denso Corporation
• HARMAN International
• Hyundai Mobis
• Panasonic Corporation
• Pioneer Corporation
• Visteon Corporation

The Automotive Digital Cockpit Market is Evolving with High-Tech Innovations Focused on Safety and User Experience.

The increased expectation of having a high-tech user experience inside a vehicle, particularly in infotainment and navigation, continues to reshape the automotive digital cockpit domain. Growing concerns over driver and passenger safety along with increased awareness of cyber risks have seen significant investment in secure, intuitive interfaces. Improved heads-up displays and gesture control further enhance immersion, reducing the likelihood of distractions while driving.

As in-car systems become increasingly complex, automakers are focusing on cybersecurity to prevent threats that could compromise control of a vehicle. The automotive industry is in general focusing more on innovations that combine safety, functionality, and experience, investing a lot of resources for long-term growth and competitive advantage. Sustainable market growth is anticipated as companies look to find balances between advanced technologies and user welfare, ensuring the future of digital cockpits in seamlessly integrating enhanced safety features with engaging digital experiences.

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Automotive Digital Cockpit Market Segment Analysis

In terms of Equipment Type, the driving monitoring system accounted for the largest share in 2023 at 48.3%. This was attributed to the technological capability of alerting drivers to potential hazards in real time. The head-up display is growing at a very fast rate. It has shown a growth rate of CAGR at 11.7%, as it provides critical information within the view of the driver.

As per Display Technology, the highest share, 55% in 2023, is held by TFT-LCD display since it shows durability and rich visual appearance. However, OLED displays are expected to have a CAGR of 12.0% during the forecast period from 2024 to 2032 with sharper visual output and energy efficiency.

In terms of Vehicle Type, passenger cars held more than 80% of the market share in 2023 due to high demand for advanced connectivity and safety features. The segment is expected to remain dominant in the market with the rise of autonomous driving features. Commercial vehicles will grow over 10% in CAGR during the forecasting period, mainly due to the requirement of strong infotainment and navigation systems

Automotive Digital Cockpit Market Key Segmentation:

by Equipment

• Digital Instrument Cluster
• Driving Monitoring System
• Head-up Display (HUD)

by Display Technology

• LCD
• TFT-LCD
• OLED

by Vehicle Type

• Passenger cars
• Commercial vehicles

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Regional Analysis

Asia Pacific became the market leader in 2023 with a 55.6% market share, mainly due to the strong production and sales of vehicles. High demand for automobiles, along with growth in the mid-range and luxury vehicle segments, will be key drivers for the market success of the digital cockpit.

Premium automotive OEMs continue to expand their share in Europe, which is supported by significant investments in advanced automotive manufacturing. Europe is the stronghold of premium automobile brands, and most of them in the region are committed to embracing the digital cockpit technologies. Consequently, the region would witness explosive growth, with an estimated CAGR of over 11% through 2032. The mainstream luxury automobile manufacturers in the region include advanced display features, and this further substantiates that the region holds much growth potential for market expansion.

Recent Developments:

January 2024: As per the statement by automotive suppliers Bosch and Qualcomm Technologies at CES 2024, first such product in the automotive industry is the central vehicle computer capable of running infotainment and advanced driver assistance systems on one chip, Bosch has published its new Digital cockpit & ADAS integration platform that is based on Qualcomm Snapdragon Ride Flex SoC.

Table Of Contents

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Automotive Digital Cockpit Market Segmentation, by Equipment
8. Automotive Digital Cockpit Market Segmentation, by Display Technology
9. Automotive Digital Cockpit Market Segmentation, by Vehicle Type
10. Regional Analysis
12. Competitive Landscape
13. Use Cases and Best Practices
14. Conclusion

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