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Cockpit Electronics Market Overview
“The global Cockpit Electronics Market size was valued at USD 51.20 Billion in 2023, and projected to reach USD 81.05 Billion by 2030, with a CAGR of 8.7% from 2023-2030.”
The electrical equipment and parts located in the cockpit or driver's compartment of vehicles like aero planes or cars are referred to as cockpit electronics. These electronics are vital for supplying the necessary data, commands, and user interfaces for efficient vehicle operation. Instruments, displays, navigation systems, communication tools, and engine monitoring systems are all parts of an aircraft's cockpit electronics, which give pilots the ability to see and manage many elements of flight. In cars, cockpit electronics include things like instrument clusters, infotainment systems, temperature control interfaces, and driver-assistance technologies.
These things improve the driving experience and give the driver important information. The desire for expanded features, increased safety, and improved user experience in the aviation and automotive industries is what drives the market for cockpit electronics, with ongoing technical breakthroughs and fierce competition creating the industry landscape.
The desire for cutting-edge features, an improved user experience, and increased safety in the aviation and automotive industries are driving the rapid expansion of the cockpit electronics industry. The industry is seeing fierce rivalry and ongoing technical improvements as a result of the growing use of technology including glass cockpit displays, flight management systems, infotainment systems, networking features, and driver-assistance systems.
Demand Outlook
Technological developments are driving the cockpit electronics industry. The safety, comfort, and entertainment of car occupants are continually being improved by manufacturers via the development of new and cutting-edge systems and equipment. The market for automobile cockpit electronics is being driven by the rising demand for connected cars. The occupants of connected vehicles may access a variety of features and services thanks to different electronic systems and devices, including infotainment systems and telematics systems.
The market is significantly constrained by the high price of automobile cockpit electronics. Many of the high-tech components that make up the cockpit electronics are pricey, which may prevent some buyers from investing in vehicles with these amenities.
The market for cockpit electronics is significantly constrained by the absence of standardization in the automobile sector. It can be challenging for buyers to evaluate several automobiles and come to an informed selection since different manufacturers employ various methods and tools.
The market for automobile cockpit electronics has a sizable opportunity due to the rising demand for electric vehicles. A variety of cutting-edge technologies and gadgets, including entertainment systems, telematics systems, and driver assistance systems, are included in electric cars and are crucial for improving the driving experience and assuring the safety of the passengers.
The market for cockpit electronics is also being driven by the increasing interest in driverless vehicles. A variety of cutting-edge electronic components, including sensors, cameras, and radar systems, are needed for autonomous cars in order to monitor their surroundings and operate the vehicle.
The demand for advanced electronic systems is further fueled by the growth of electric and driverless automobiles. Due to its expanding automotive sector and customer base, North America is becoming one of the most important markets globally.
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Market Dynamics
The automotive cockpit electronics market is growing due to increased consumer awareness of advanced technologies, rising per capita income, demand for technically advanced vehicles, and a shift from analog to digital electronics. Leading firms are investing heavily in R&D due to increased market rivalry. However, intricate hardware and software designs and high manufacturing costs pose challenges.
Cockpit Electronics Market Segment Analysis
According to estimates, both in terms of volume and value, head-up displays are the product category that is expanding the quickest overall. This market's expansion may be ascribed to the rising popularity of premium and luxury passenger automobiles, many of which are equipped with head-up displays.
The market for head-up displays is also being driven by customers' rising awareness of safety features. According to estimates, the market for entertainment and navigation is the greatest market in terms of value.
This market is expanding as a result of OEMs using integrated infotainment and navigation systems more often. The market for advanced cockpit is anticipated to be both the largest and expanding most quickly. In comparison to the components in the basic cockpit electronics, advanced cockpit electronics features such windscreen head-up display, high-end information display, and sophisticated telematics are predicted to expand at a faster CAGR.
Based on type, the cockpit electronics market is segmented into basic and advanced categories. The market is anticipated to be dominated by the advance segment. High-end information display, mid/high-end infotainment unit, windscreen HUD, and advanced telemetric are some of the advanced cockpit electronics.
According to end market, luxury passenger vehicles are predicted to have the automotive cockpit market's fastest expanding category. Luxury passenger vehicles have advanced electronic systems. High-end infotainment and windscreen head-up displays are features that several OEMs are including into their premium passenger vehicles.
According to estimates, the market for battery electric vehicles (BEV) is the fuel type sector with the quickest rate of growth. The growing manufacture of electric automobiles is to blame for this expansion. The internal combustion engine (ICE) vehicle market, which now accounts for the majority of the segment's sales and production, is anticipated to continue to grow rapidly.
Competitive Landscape of the Cockpit Electronics Market
The global market is fragmented in nature with the presence of various key players such as Robert Bosch GmbH, Continental AG, Harman International, Visteon Corporation, Delphi Automotive PLC, Denso Corporation, Faurecia Clarion, Garmin, Panasonic Corporation, Alps Alpine Co., Ltd., Johnson Controls, Magneti Marelli
Recent Developments in the Cockpit Electronics Market
Oct 15, 2023: NAL to finalise production partner for trainer aircraft by November
April 26, 2023 - Bosch is using silicon carbide chips to grow its semiconductor business. The technology business purchased the Roseville, California-based TSI Semiconductors chip manufacturing assets. The business produces application-specific integrated circuits, or ASICs, and employs 250 people.
Feb 2, 2023: xEVs Opening New Opportunities for Sensor Development
January 4, 2023 - The creation of a high-performance cockpit domain controller intended to help international automakers create next-generation cockpits, according to an announcement made by Visteon and Qualcomm Technologies, Inc.
Regional Insights
With 56% of the global cockpit electronic market, North America led. Over the anticipated term, it is projected to keep its supremacy with a CAGR of more than 10.3%. The increased demand for light commercial vehicles has resulted in an increase in overall vehicle sales.
Several ADAS technologies, such as adaptive cruise control, rear cross-path detection, and front pedestrian detection, are also under US government oversight and are found in new cars. Due to the ongoing re-engineering of the safety systems found in luxury and high-end automobiles to improve driver safety in the area, Europe holds the second-largest market share for cockpit electronics.
Additionally, the UK automobile cockpit electronics market had the quickest rate of growth in the European area, while the German cockpit electronics market had the greatest market share.
Segments Covered in the Cockpit Electronics Market
Cockpit Electronics Market by Product
Cockpit Electronics Market by Type
Cockpit Electronics Market by End Market
Cockpit Electronics Market by Application
Cockpit Electronics Market by Region
Frequently asked questions with answers
What are the upcoming trends of cockpit electronics market globally?
Increasing use advanced human-machine interface (HMI) is a key trend gaining popularity.
What is the CAGR of cockpit electronics market?
The global Cockpit Electronics Market size was valued at USD 51.20 Billion in 2023, and projected to reach USD 81.05 Billion by 2030, with a CAGR of 8.7% from 2023-2030.
Which are the top companies to hold the market share in cockpit electronics market?
The global market is fragmented in nature with the presence of various key players such as Robert Bosch GmbH, Continental AG, Harman International, Visteon Corporation, Delphi Automotive PLC, Denso Corporation, Faurecia Clarion, Garmin, Panasonic Corporation, Alps Alpine Co., Ltd., Johnson Controls, Magneti Marelli.
Which is the largest regional market for cockpit electronics market?
The North America dominated the global industry in 2022 and accounted for the maximum share of more than 56% of the overall revenue.
Base Year:2022
Historical Data:2018-2022
No of Pages:122
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