Major Vendors in the global market are Continental AG, Denso, HARMAN International (Samsung), Visteon Corporation, Bosch.
CHICAGO, IL, UNITED STATES, February 8, 2018 /EINPresswire.com/ — Arizton's recently published market research report on automotive cockpit electronics market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (audio & infotainment (audio-only, display audio, embedded infotainment – navigation), center information display, HUD (C-HUD and W-HUD), instrument cluster (analog, hybrid, and digital), and telematics (embedded solutions and hybrid telematics)), by vehicle type (economy cars, luxury cars, and mid-priced cars), and geography (APAC, Europe, Latin America, MEA, and North America).
The global automotive cockpit electronics market is anticipated to generate revenues of more than $53 billion by 2023 and is expected to grow at a CAGR of close to 9% during the forecast period.
The increasing demand for more centralized control and growing need for seamless exchange of data and information between various systems is augmenting the growth of the automotive cockpit electronics market. The integration of smartphones with automotive entertainment systems and growing demand for connected cars is boosting the popularity of automotive cockpit electronics in the global market. The vendors are focusing on introducing advanced systems to meet the dynamic customer requirements. Factors such as rapid electrification of vehicles, stringent fuel emissions, adoption of advanced safety features in mid-segment vehicles, and increasing number of hybrid and electric vehicles will have a positive impact on the global market. The prevalent price wars and commoditization will intensify the level of competition in the market. The introduction of various innovative applications in the hybrid and electric vehicles segments such as advanced driver assistance systems (ADAS), infotainment systems, and telematics will create the lucrative opportunity for vendors in the market.
The growing focus on innovations in the field of safety systems, infotainment, electrification of engine mechanism, and other automotive applications will help prominent players launch pioneering electronic systems in the automotive industry. The economic development of the APAP and the Latin American market will create new investment prospects for companies in the market.
Automotive Cockpit Electronics Market – Dynamics
The growing efforts to boost fuel economy and the introduction of electrification of mechanics in the automotive sector will propel the development of the market over the next few years. The implementation of stringent regulations to reduce emissions by various regulatory bodies across the world market is attributing to the growth of global automotive cockpit electronics market. The tier-1 OMEs are investing in the development of technologies that reduce the weight of the vehicle and introduce electronically controlled vehicle mechanism that results in higher fuel efficiency and reducing tailpipe emissions. These electronic controls improve operational efficiency and functionality of the braking system, steering control, and throttle control. Such benefits of incorporating electronic mechanics will boost the demand in the market.
Segmentation Of Global Automotive Cockpit Electronics Market
Automotive Cockpit Electronics Market – By Products
Launch of advanced interactive entertainment systems will boost the growth of the automotive cockpit electronics market
The automotive cockpit electronics market by products is segmented into audio & infotainment (audio-only, display audio, embedded infotainment – navigation), center information display, HUD (C-HUD and W-HUD), instrument cluster (analog, hybrid, and digital), and telematics (embedded solutions and hybrid telematics). Audio & infotainment was the largest segment in the market and is expected to grow at a CAGR of over 5% during the forecast period. The growing demand for innovative technologies and gadgets from the passenger vehicles segment will propel the growth of the audio infotainment segment in the global market. The popularity of advanced interactive entrainment systems, high-end infotainment systems, and live media streaming services will allow vendors to launch customized products that meet the customer requirements and gain a larger market share.
The growing need for advanced systems in automotive is fueling the traction of telematics and HUD in automotive cockpit electronics market. These two solutions are expected to be the fastest growing product segments in the global market during the forecast period.
Automotive Cockpit Electronics Market – By Vehicle Type
Mid-priced cars to dominate the automotive cockpit electronics market during the forecast period
The vehicle type in the automotive cockpit electronics market is classified into economy cars, luxury cars, and mid-priced cars. The mid-priced cars were the largest segment of the market occupying close to 50% of the total market share in 2017 and are expected to grow at a CARG around 7% during the forecast period. The vendors are investing in developing innovative solutions to meet the dynamic requirements of the consumers and gain a larger market share in this market segment. The declining price trends for cockpit electronics will encourage leading companies to incorporate these innovative systems in the mid-prices cars segment. Furthermore, the rise in disposable income in emerging countries and specifically in APAC will transform this market segment over the next few years.
Automotive Cockpit Electronics Market – By Geography
China to lead the world production in the automotive cockpit electronics market during the forecast period
The automotive cockpit electronics market by geography is divided into APAC, Europe, Latin America, MEA, and North America. APAC dominated the market and is projected to grow at a CAGR of over 8% during the forecast period. China is the largest contributor in the APAC market followed by Japan, South Korea, and India. The growing demand for advanced infotainment systems, electric vehicles, hybrid electric vehicles, and other luxury cars is propelling the growth of the automotive cockpit electronics market in the APAC region. The economic development, increase in per capita income, and increase in purchasing power will create lucrative business opportunities for leading players in the APAC market during the forecast period.
The key countries profiled in the report are:
Key Vendor Analysis
The automotive cockpit electronics market is moderately fragmented, and the key players occupy more than 50% of the total market share. The vendors are focusing on refining their unique value proposition to sustain the intense competition in the market. The companies are introducing innovative product portfolios to attract more consumers and manage the threat from the availability of low-quality products in the global market. The leading vendors are also shifting their production facilities to different countries in the APAC market such as China, South Korea, Japan, and Taiwan to expand their businesses and gain a larger market share.
The major vendors in the global market are:
HARMAN International (Samsung)
Other prominent vendors include Aisin , Alps Electric, Aptiv (Delphi Automotive), Clarion, Desay, Flex, Ford, Garmin, Innolux, Kyocera, LG Electronics, Laird, Magneti Marelli, Mitsubishi Electric, Mobis, Nippon Seiki, Pana-Ficosa, Panasonic, Pioneer, Sharp, Tom Tom, Valeo, Yazaki Corporation.
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Source: EIN Presswire