Market Research Future (MRFR) projects that the global automotive cockpit electronics market will post a sound growth over the next couple of years. Increased production of vehicles is the primary market driver. Automotive cockpit electronics cover various types of automotive instruments the directly assist the driver.
Advances in automotive technology has expanded the variety of automotive cockpit electronics. These electronics influence the working of automotive components such as traction, braking, steering, etc. In addition, these electronics are allowing manufacturers to improve integrate innovative features such as driver assistance systems (ADAS), infotainment, head-up display, GPS among others.
Automotive cockpit electronics is a must-have in modern vehicles. Growing emphasis on enhancing drivers experience along with the introduction of new automotive safety regulation is supporting the adoption of automotive cockpit electronics. Automotive cockpit electronics market is also benefiting from the increased research and development activities. As trends such as autonomous car and electric powered vehicle gain vehicle, the application scope grows further for such electronic systems. Moreover, automotive cockpit electronics can significantly increase the level safety for occupants. Such electronics are leveraged to enhance safety, comfort, performance and fuel-efficiency. The factors mentioned above are influencing the adoption of automotive cockpit electronics.
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Global Automotive Cockpit Electronics Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of technology type, product type, vehicle type, end user and region.
Based on technology type, the market has been segmented into advanced and basic. The advanced segment is anticipated to the retain its leading position throughout the assessment period. Based on product type, the market has been segmented into information display, head-up display (HUD), telematics, instrument cluster, infotainment & navigation and others. In terms of value, the HUD segment currently account for the largest share of the market. This can be attributed the growing adoption of head-up display in premium and luxury cars. Moreover, HUDs are highly efficient and comply with stringent safety regulation that are presently imposed on the automotive sector. Based on vehicle type, the market has been segmented into commercial vehicle and passenger vehicle. Based on end use, the market has been segmented into mid-scale priced vehicle, luxury cars, and economic passenger car. The luxury cars segmented is likely to maintain its dominant position throughout the assessment period. There is a faster uptake of advanced automotive cockpit electronics in luxury cars.
Global Automotive Cockpit Electronics Market: Competition Analysis
Companies profiled in MRFR’s report include Continental AG (Germany), Visteon Corporation (U.S), Denso Corp. (Japan), Johnson Controls (U.S.), Magneti Marelli (Italy), Robert Bosch GmbH (Germany), Delphi Automotive PLC (U.K), Harman International (U.S), IAV (Germany), and Alpine Electronics Inc. (Japan).
Global Automotive Cockpit Electronics Market: Regional Analysis
Asia Pacific (APAC), North America, Europe, the Middle East & Africa (MEA) and South America are the key regions covered in MRFR’s report. APAC is the most attractive market for automotive cockpit electronics. The market in the region is expected to witness a healthy growth over the next couple of years. In recent years, there has been a rapid growth of the automotive manufacturing sector in Asia. Countries such as China and India are posting relatively higher growth of the industry. The increased production of vehicles, especially in China, has reflected favourably on the APAC automotive cockpit electronics market.
Europe holds the second spot in the global automotive cockpit electronics market in terms of value. The vast automotive sector in Europe continues to drive the market in the region. Presence of globally leading car makers makes Europe an attractive destination for market players. In Europe, Germany remains largest contributor in terms of revenue.
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