Automotive Digital Cockpit Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The global automotive digital cockpit market is experiencing a period of rapid expansion. From $23.82 billion in 2023, the market is projected to grow to $26.52 billion in 2024, with a compound annual growth rate CAGR of 11.3%. This upwards trajectory can be traced, in part, to consumer demand for connectivity, the pleasure of in-car entertainment, the enforcement of government regulations, competitive differentiation, and the globalization of automotive markets.
The automotive digital cockpit market size is expected to see rapid growth in the next few years. It will grow to $39.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to cybersecurity concerns, health and wellness monitoring, rise of mobility-as-a-service (MaaS), sustainable mobility, smart city integration. Major trends in the forecast period include advanced driver-assistance systems, augmented reality (AR) head-up displays (HUDs), customization and personalization, digital assistants and voice recognition, integration of biometric sensors, haptic feedback and touch controls.

What are the major driving forces behind the vast expansion of the automotive digital cockpit market?

One driver is the rising proliferation of connected vehicles. As cars become more akin to 'computers on wheels,' owing to onboard connectivity systems that enable internet access and wireless connections to other devices, the role of the digital cockpit intensifies. The digital cockpit is becoming a fundamental feature as it assists connected vehicles in unlocking future connected car experiences. Scania, a Sweden-based manufacturing company, reported in March 2022 that around 560,000 of its vehicles equivalent to 64% of its 10-year rolling fleet were connected, with the number increasing rapidly. This rise in connected vehicles looks set to fuel the further expansion of the automotive digital cockpit market.

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Which are the key industry players shaping the future of the automotive digital cockpit market?

A slew of major companies are operating in the automotive digital cockpit market, including Volkswagen Group, Bayerische Motoren Werke AG, Daimler AG, Robert Bosch GmbH, Pioneer Corporation, LG Electronics Inc., and Panasonic Corporation, among others. These companies are constantly striving to maintain their competitive edge, often through innovation and the development of advanced technologies.

What is the projected value of the automotive digital cockpit market in the coming years?

The automotive digital cockpit market is projected to continue its rapid growth trajectory, reaching an estimated $39.85 billion in 2028, with a CAGR of 10.7%. This forecasted growth is attributed to emerging trends such as cybersecurity concerns, the incorporation of health and wellness monitoring, the rise of Mobility-as-a-Service MaaS, the drive towards sustainable mobility, and integration with smart cities.

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Which digital trends are poised to redefine the future of the automotive digital cockpit?

Emerging technologies are significantly influencing the automotive digital cockpit market. Here, industry players are training their focus on technological innovations such as 5G low latency technologies, to maintain their industry dominance. Canalys, a technology market analyst firm headquartered in Singapore, recently rolled out the Digital Cockpit Analysis service, which envisions future cars as autonomous, connected, electric, and heavily reliant on software. The in-car experience is being reimagined around a digital cockpit and an automotive OS, integrating elements like instrument clusters, infotainment, navigation, and proactive AI, among others, using multi-modal interfaces on a single platform.

How is the global automotive digital cockpit market segmented?

The automotive digital cockpit market report segments the market in several ways:

1 By Vehicle Type: These include Passenger Vehicles and Commercial Vehicles
2 By Equipment: This encompasses the Digital Instrument Cluster, Driving Monitoring System, and Heads-Up Display
3 By Display: This includes LCD, TFT-LCD, OLED

An Insight into Regional Perspective of the Automotive Digital cockpit Market:

Asia-Pacific was the most prominent region in the automotive digital cockpit market in 2023. However, the market findings also extend to other regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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