CHICAGO, March 21, 2019
CHICAGO, March 21, 2019 /PRNewswire/ -- According to the new market research report "Automotive Digital Cockpit Market by Equipment (Digital Instrument Cluster, Advanced Head Unit, HUD, Camera Based Driver Monitoring System), Vehicle Type (Passenger & Commercial Vehicle), EV Type (BEV, HEV, & PHEV), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Automotive Digital Cockpit Market is projected to grow at a CAGR of 13.59% during the forecast period, to reach USD 35.9 billion by 2025 from an estimated USD 14.7 billion in 2018. The demand for convenience and comfort features in automobiles has grown steadily. Growing consumer awareness and demand for personalized user experience are expected to drive the growth of the Automotive Digital Cockpit Market.
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Browse in-depth TOC on "Automotive Digital Cockpit Market"
81 – Tables
52 – Figures
151 – Pages
Advanced head unit, by equipment, is estimated to hold the largest market share during the forecast period.
The advanced head unit is estimated to be the largest segment of the Automotive Digital Cockpit Market during the forecast period. OEMs have started offering this feature as a standard fit in their mid-priced and luxury vehicle segments. This is fueling the growth of the Automotive Digital Cockpit Market for advanced head unit. Moreover, advanced head unit in luxury and ultra-luxury vehicles offers premium features such as gesture recognition and voice recognition. Increasing sales of premium vehicle segment is a key factor driving the market for automotive digital cockpit.
Passenger vehicle segment of the Automotive Digital Cockpit Market is estimated to be the fastest growing segment, by vehicle type, from 2018 to 2025
The passenger vehicle segment of the Automotive Digital Cockpit Market is estimated to be the fastest growing segment. The increasing adoption of advanced digital cockpit equipment such as a digital instrument cluster, advanced head unit, head-up display, and camera-based driver monitoring, especially in luxury and mid-sized vehicles in North America and Europe, will boost the demand for automotive digital cockpit.
Europe to be the largest market for automotive digital cockpit in 2025
Europe is projected to be the largest market for automotive digital cockpit in 2025. Regulations related to E-call and rising demand for a digital experience inside the vehicle cockpit are expected to drive the market for automotive digital cockpit. The trend of electronic control unit (ECU) consolidation and use of domain controller to operate modern cockpit features are the other factors driving the market for automotive digital cockpit.
The Automotive Digital Cockpit Market is dominated by globally established players such as Visteon (US), Continental (Germany), Robert Bosch (Germany), Denso (Japan), Garmin (US), and Magna (Canada).
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