Automotive Digital Cockpit Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Automotive Digital Cockpit Market is anticipated display a CAGR of around ~11% over the forecast period (2021-2027). The demand for cars is likely to increase over the forecast period due to reasons such as rising global income levels, which allows individuals to spend more on products and services that give luxury and safety. This will further create the new demand for automotive digital cockpit as market is being driven by an increase in demand for technologically enhanced applications and devices that enable ease of use while driving, as well as better connectivity and visual graphics for navigation while driving. The device also improves passenger safety by alerting the driver to the possibility of a collision. While driving, the digital cockpit alerts the driver to any abnormalities in the engine, preventing a serious breakdown.

Insights Presented in the Report

“Amongst Equipment, Camera-Based Driver Monitoring System segment dominated the market in 2020”

Based on equipment, the market is segmented into Digital Instrument Cluster, Advanced Head Unit, Head-Up Display (HUD) and Camera-Based Driver Monitoring System. The Camera-Based Driver Monitoring System segment generated revenue of USD XX billion in 2020. The increasing trend of human machine contact inside the car might be attributed to the rise of this segment. Driver weariness and drowsiness are responsible for several accidents. The driver’s condition is detected by a camera-based driver monitoring system, which alerts him or her to the drowsiness. As a result, the digital cockpit market is projected to be fueled by the expansion of camera-based driver monitoring

“Amongst Vehicle, Passenger segment dominated the market in 2020.”

Based on vehicle, the market is segmented into Passenger and Commercial. The Passenger segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. The market for connected car features in passenger vehicles is predicted to rise due to rising demand and the introduction of semi-autonomous and autonomous vehicles. The desire by OEMs to provide a better user experience for their customers has fuelled demand for a digital cockpit

“Amongst EV Type, BEV segment dominated the market in 2020.”

Based on EV Type, the market is segmented in BEV, HEV and PHEV. The BEV segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. All three divisions are likely to be driven by an increase in demand for vehicles with low carbon emissions and tight carbon emission standards imposed by environmental regulatory authorities. During the projection period, significant effort in the field of fuel cell technology is expected to drive the sectors. Other variables influencing the categories include the increased demand for zero-emission transportation and the decrease of carbon emission requirements

“Asia Pacific represents as the largest market.”

For a better understanding of the market adoption of Automotive Digital Cockpit, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. During the projection period of 2021-2027, Asia Pacific is expected to be the largest market. The Asia-Pacific Automotive Digital Cockpit market is dominated by China, which is the region’s largest manufacturer and exporter of Automotive Digital Cockpits. The Chinese Automotive Digital Cockpit market is primarily driven by the growing production and sale of passenger car in the country. In 2020, approximately 20 million passenger cars and five million commercial vehicles had been produced in China. With a production volume of about 21 million passenger cars, China ranked first among countries with the largest production of passenger cars. Some of the major players operating in the market includes Robert Bosch GmbH, Continental AG, Denso Corporation, Garmin Ltd., HARMAN International, Panasonic Corporation, Visteon Corporation, Faurecia SE, Nvidia Corporation and Pioneer Corporation etc.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry 

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Research Methodology

Due to the continuously increasing number of connected automobiles worldwide, the automotive digital cockpit market has a large potential to develop over the projected period of 2021 to 2027. Furthermore, the automotive digital cockpit market is largely influenced by the increased adoption of IoT, telematics, and the expanding use of navigation, information, safety, and remote diagnostics in linked vehicles. Another trend boosting the growth of the automotive digital cockpit market is the rising demand for intelligent transportation systems and effective use of sophisticated technology. Additionally, rising electric car sales will aid the growth of the automotive digital cockpit market throughout the forecast period. The global sales of electric vehicles increased by 160% in the first half of 2021 from a year earlier to 2.6 million units.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Automotive Digital Cockpit Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Automotive Digital Cockpit, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by equipment, vehicle, and EV type. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Automotive Digital Cockpit Market in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportations etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Automotive Digital Cockpit across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Automotive Digital Cockpit Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Automotive Digital Cockpit market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of mode, battery type, application, and region. 

The main objective of the Automotive Digital Cockpit Market Study

The current & future market trends of Automotive Digital Cockpit were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Automotive Digital Cockpit in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include type, application, and vehicle
• Defined analysis of the regulatory framework for the Global Automotive Digital Cockpit industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Automotive Digital Cockpit for the major regions & countries
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Spain, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Automotive Digital Cockpit Market players and the growth strategies adopted by them to sustain in the fast-growing market
• Deep dive regional & country level analysis of the industry