The Growing Market for Automotive Digital Cockpits: Innovations and Opportunities for Industry Players

Global Automotive Digital Cockpit Market is expected to grow at a CAGR of around 11% during the forecast period 2021-2027. 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.

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As a result of the issues that vehicle manufacturers face in terms of safety requirements, government regulations relating to passenger safety and the environment have gotten more stringent in recent years. Electronic stability control (ESC), advanced driver assistance systems (ADAS), anti-lock braking systems (ABS), and tire pressure monitoring systems (TPMS) are just a few of the new advanced technologies that have bolstered the worldwide automobile cockpit electronics market. The digital cockpit provides options such as a combination of digital instrumentation and infotainment systems with one or two digital screens. It has at least three knobs and displays, and the installation is done in vehicles according to the needs of the driver and passengers. The digital cockpit of the car includes technologies such as infotainment platforms, wireless connectivity, and HMI apps, all of which contribute to a better driving experience. Modern automobiles contain many electronic components.

In 2020, the COVID-19 pandemic altered corporate dynamics, which is projected to have an impact on the general business scenario in the coming years. Lockdowns enacted in many regions of the world to stop the virus from spreading have caused supply chain disruptions and the temporary shutdown of several production sites. As a result, shipments were delayed and production levels were reduced, putting a strain on the auto industry. The market has also been impacted by the decline in demand for commercial and passenger automobiles. On a year-over-year basis, worldwide automobile production volumes have decreased, owing to declines in production volumes in Europe and North America, among other regions. Between January 2020 and April 2020, global automobile sales fell by roughly 33.3 percent, with around 9 million fewer cars sold than from January 2019 to April 2019. In the United States, passenger car sales fell by nearly 50% year on year in 2019 compared to the previous year.

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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, France, UK, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Asia Pacific dominated the market in 2020 and is expected to grow at a higher rate during the forecasted period. The growing demand of vehicles in countries like China and India are adding to the growth of the market for digital cockpit in the region.

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Global Automotive Digital Cockpit Market Segmentation

Market Insight, by Equipment

Digital Instrument Cluster
Advanced Head Unit
Head-Up Display (HUD)
Camera-Based Driver Monitoring System

Market Insight, by Vehicle

Passenger
Commercial

Market Insight, by EV Type

BEV
HEV
PHEV

Market Insight, by Region

North America Automotive Digital Cockpit Market
- United States
- Canada
- Rest of North America
Europe Automotive Digital Cockpit Market
- Germany
- France
- United Kingdom
- Spain
- Rest of Europe
Asia Pacific Automotive Digital Cockpit Market
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Rest of World Automotive Digital Cockpit Market