Automotive Cockpit Electronics is a Big Business Opportunity

- Advertisement -

The same is projected to reach a revised size of US$39.5 Billion by 2026, growing at a CAGR of 7.3 per cent over the analysis period

Led by countries such as Australia, India, and South Korea, the market of cockpit electronics (automotive) in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2026. Amid the COVID-19 crisis, as per a report by Global Industry Analysts, the global market for automotive cockpit electronics was estimated at US$26 Billion in the year 2020. The same is projected to reach a revised size of US$39.5 Billion by 2026, growing at a CAGR of 7.3 per cent over the analysis period.

“Buoyed by increasing use of advanced technology, the share of automotive electronics components in vehicles in terms of vehicle cost has gradually increased from just eight to over 30 per cent in the recent years, providing a significant scope of opportunity for automotive cockpit electronics,” read the report.

- Advertisement -

Infotainment & Navigation

Infotainment & Navigation, one of the segments analyzed in the report, is projected to grow at a eight per cent CAGR to reach US$14.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Information Display segment is readjusted to a revised 7.4 per cent CAGR for the next 7-year period.

This segment currently accounts for a 25.6 per cent share of the global Automotive Cockpit Electronics market. Intuitive, ergonomic, and easy to operate vehicle function controls and human machine interface are diluting the fears over driver distraction caused by vehicle entertainment systems, thereby making infotainment systems mainstream automotive systems.

Instrument cluster segment to reach $7.9 billion by 2026

The instrument cluster features the speedometer along with user-friendly digital devices. Demand for instrument cluster is supported by increasing demand for quality infotainment, riding experience and safety. In the global Instrument Cluster segment, USA, Canada, Japan, China and Europe will drive the 6.6 per cent CAGR estimated for this segment.

These regional markets accounting for a combined market size of US$4.3 Billion in the year 2020 will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Growth in the global market is set to be driven by increasing consumer preference for convenience features and enhanced user experience. Rising disposable income and demand for autonomous vehicles are prompting people to invest in latest car models with advanced electronics that allow users to view information in the line-of-sight, like navigation.

The integration of sophisticated technologies and government regulations on telematics and increasing connectivity aid in market expansion. The market growth is also bolstered by increasing use of innovative technologies like head-up display and in-car navigation systems.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

5G Chipset Market to Hit $92.09B by 2030

0
Reports indicate that the global next-gen wireless processor market is on track to surpass the $100 billion mark in the coming decade. The 5G chipset...
Gursaurabh Singh, Founder of Dhruv Vidyut

“Electrifying Rural Mobility- Converting Traditional Bicycles Into E-Bikes”

0
In a conversation with Nitisha Dubey from EFY, Gursaurabh Singh, the Founder of Dhruv Vidyut, discusses their conversion kit, which can transform any conventional...
Rahul Bollini, the Founder of Bollini Energy

“Formal Contracts For Long-Term Commitments Are Not Always Necessary”

0
Bollini Energy collaborates with various companies interested in understanding the complete value chain of Lithium-ion cells. They offer technical services that span from mining...

Buzz

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

Important Sectors

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

VinFast Invests $2 Billion In India Expansion

0
Vietnamese electric carmaker VinFast expands across Asia, opening new factories in India and Indonesia, despite challenges in the competitive EV market and slowing global...

Statiq Plans 5,000 New Chargers With Hyundai, ChargeMOD, And GLIDA Partnerships

0
Chargers managed by the partner CPOs will be fully integrated into the Statiq app, providing users with clear visibility and access to an extensive...

Manufacturing

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...

Uno Minda Shines With Increased Content Per Car And EV Focus

0
Uno Minda, a key player in the auto parts industry, has demonstrated significant revenue growth, surpassing industry averages by more than double over the...