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The growth in the market is primarily driven by the escalating demand for enhanced safety and comfort features in vehicles. The market also gets impetus from government regulations formed for safety in the automotive sector.
The introduction of a wide range of sensors along with modern automotive control amenities play a vital role in introducing developments in the automotive cockpit electronics. The global cockpit electronics market comprises luxury goods that are focused on enhancing driving experience by creating a comfortable atmosphere inside the vehicle.
Some of the major drivers contributing to the overall growth of the automotive cockpit electronics market include increasing consumer awareness regarding advanced technologies, increasing per capita income of consumers, growing demand for technically advanced cars, and changing demand for vehicle electronics from analog to digital.
Advancements in technology have given rise to market competition owing to which major leading organizations are heavily investing in R&D activities. However, complicated hardware and software designs and high expenditure in terms of manufacturing are challenges to the automotive cockpit electronics market.
Automotive cockpit electronics represents an area dedicated to instrument panel and controls that allow center stack electronics and information for enhanced safety, convenience, and driving experience.
Buoyed by increasing use of advanced technology, the share of automotive electronics components in vehicles in terms of vehicle cost has gradually increased from just 8-10% to over 30% in the recent years, providing a significant scope of opportunity for automotive cockpit electronics.
Growth in the global market is set to be driven by increasing consumer preference for convenience features and enhanced user experience. Rising disposable income and demand for autonomous vehicles are prompting people to invest in latest car models with advanced electronics that allow users to view information in the line-of-sight, like navigation.
The integration of sophisticated technologies and government regulations on telematics and increasing connectivity aid in market expansion. The market growth is also bolstered by increasing use of innovative technologies like head-up display and in-car navigation systems.
The Automotive Cockpit Electronics market in the U.S. is estimated at US$XX Billion in the year 2021. The country currently accounts for a ~27% share in the global market. China, the world’s largest automotive market, is expected to reach an estimated market size of US$XX Billion in the year 2026.
The US witnessed high penetration rate for automotive navigation systems owing to robust uptake within the light commercial vehicles segment and changing consumer preferences.
The Asia-Pacific region is expected to gain from increasing consumer demand and rising vehicle production. The region is receiving notable contributions from India, South Korea and Indonesia, representing major automobile hubs on the basis of vehicle sales and production.
Visteon, a leading worldwide technology company servicing the mobility sector, announced the release of its fourth-generation SmartCore cockpit domain controller, a solution designed to help global automakers deliver a more connected, customised, and safe driving experience.
Traditional cluster information displays, safety inputs (internal and external camera feeds), and Android Automotive infotainment ranging from maps and parking to charging locations, as well as enjoyable entertainment experiences for passenger displays, are all part of the modern intelligent cockpit experience.
Visteon’s fourth-generation SmartCoreTM cockpit domain controller unifies all of this data across multiple cockpit displays and can deliver feature upgrades wirelessly over-the-air, eliminating the need to replace hardware and extending the platform’s lifecycle.
Major companies operating in the automotive cockpit electronics market are Robert Bosch GmbH, Visteon Corporation, Alpine Electronics Inc, Panasonic Corporation, Continental AG, Garmin Ltd, DENSO CORPORATION, Harman International Industries Inc, Clarion Company Ltd, Delphi Automotive Plc, among others. These companies are making new investments to improve their technology in order to retain their competitiveness in the industry.
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