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The automotive cockpit module market size is estimated to grow at a CAGR of 6.33% between 2023 and 2027. The market size is forecast to increase by USD 24.74 billion. The growth of the market depends on several factors such as the adoption of advanced HMI in mass-segment vehicles, increasing in-cabin features and personalization requirements and organizations such as GENIVI Alliance and Car Connectivity Consortium (CCC) propelling the growth of the market.
This automotive cockpit module market report extensively covers market segmentation by application (passenger cars and commercial vehicles), type (ice, electric, and hybrid), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The adoption of advanced HMI in mass-segment vehicles is notably driving market growth. One of the most important interior applications in a vehicle is the cockpit because it offers critical control points to the driver. To enhance utility and driver comfort, vehicle manufacturers have been integrating automation with automotive cockpits. Intense competition and market saturation in developed markets such as the US and Europe have forced OEMs to shift their emphasis to developing markets for growth opportunities. For instance, in India, Tata Motors is equipping its low-range cars, such as the Tata Aria and Tata Vista D90, with navigation and multimedia solutions. Tata Aria is fitted with a 10-speaker Harman sound system blended with an infotainment system, which has navigation and Bluetooth.
In addition, the trend of the adoption of infotainment systems by mass-segment vehicles is likely to drive the demand for human-machine interfaces (HMI) systems and fuel the growth of the global automotive cockpit module market during the forecast period.
Mandatory safety regulations by regulatory agencies are an emerging trend shaping market growth. The need for advanced automotive electronics in vehicles is anticipated to grow amid governing bodies in various regions mandating certain safety and driver-assist features in vehicles. To prevent frontal collisions, automatic pedestrian detection and frontal braking systems are mandatory in the US and countries across Europe. Such safety regulations by governments will force manufacturers to provide their vehicles with safety attributes incorporated with automotive artificial intelligence.
Further, automotive artificial intelligence-controlled safety features, which detect the drowsiness levels, eye movements, and breathing patterns of the driver, will be made compulsory by governments to reduce the number of drunk and tired drivers on the roads. The addition of these electronic components in mainstream vehicles will increase the demand for advanced automotive cockpit modules, thereby propelling the market during the forecast period.
Increasing cost pressure faced by automotive OEMs is a significant challenge hindering market growth. The OEMs generally allocate the cost pressure to the respective component manufacturers, including the risk of component failure and recall, which creates massive pressure on tier-1 suppliers and component manufacturers regarding advantages. Due to dynamic regulations that were imposed on several components within a vehicle, OEMs are facing immense cost pressure. Manufacturers catering to the automotive industry are exploring different ways to limit production costs and maintain quality standards simultaneously.
For instance, outsourcing the manufacturing to low-cost countries, including China, Taiwan, and South Korea. Nevertheless, the cost of labour in such countries is growing owing to the shift of manufacturing hubs, which can be a challenge in keeping low production costs. Therefore, the rising cost pressure faced by OEMs will the growth of the automotive cockpit module market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Cockpit Module Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
DENSO Corp. - The company offers an automotive cockpit module that includes various systems such as driving environment recognition systems, vehicle dynamic control systems, collision safety systems, visibility support systems, cockpit information systems, and others.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger cars segment is estimated to witness significant growth during the forecast period. The major cause for the global automotive cockpit module market earning more revenue from passenger cars is its increased production and sales volume in the global automotive market. Growing demand for safety and comfort components in passenger cars and the intense emphasis of OEMs on product differentiation drive the global automotive cockpit module market.
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The passenger car segment was the largest segment and was valued at USD 47.54 billion in 2017. Governments worldwide have established several committees to make road transportation safer. Russia, Brazil, and many countries in Europe have instructed telematics services such as emergency calls and stolen vehicle assistance in vehicles. Such trends are possible to be followed by emerging countries such as India and China, which will ramp up the number of electronics and advanced functionalities in cockpit modules. Such factors are expected to increase the demand for passenger cars across all regions, which will fuel the growth of the global automotive cockpit module market during the forecast period.
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APAC is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries such as China, Japan, and India are the largest automotive markets worldwide, driving the market in the region. The region is also a prime offshore location for automotive manufacturing driven by government incentives, low costs, and raw material advantages. The automotive industry in the region is experiencing extreme competition among OEMs, which are leveraging their cutting-edge technologies and industry expertise in the field of automotive cockpits, which include instrument panels, instrument clusters, and electronic controls.
Additionally, foreign automakers such as General Motors Company, Ford Motor Company, Daimler AG, AUDI AG, BMW AG, and Volkswagen AG have set up their manufacturing and development plants in APAC. Such factors are anticipated to fuel the market in the region. In developing countries such as India and China, the demand for safety and convenience features in vehicles is high among consumers.
In 2020, the regional market witnessed a significant decline in revenue owing to the outbreak of the COVID-19 pandemic. However, the easing of lockdown restrictions and the mass COVID-19 vaccination drives initiated by regional governments led to a decline in the number of COVID-19 cases, which helped in the resumption of manufacturing facilities and supply chain operations. For instance, a technical partnership between Qualcomm Technologies and Hyundai Motor Group in the field of purpose-built vehicles (PBVs) was announced in August 2023. Therefore, the augmented demand for the automotive cockpit module will expand the growth rate of the automotive cockpit module market in the region during the forecast period.
The automotive cockpit module market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Automotive Cockpit Module Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.33% |
Market growth 2023-2027 |
USD 24.74 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.55 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 29% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alps Alpine Co. Ltd., DENSO Corp., Garmin Ltd., Grupo Antolin Irausa SA, Hyundai Motor Co., Inteva Products LLC, Lear Corp., LG Electronics Inc., Magna International Inc., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Samvardhana Motherson International Ltd., Schaeffler AG, Stellantis NV, TomTom NV, Toyoda Gosei Co. Ltd., Visteon Corp., Yanfeng Automotive Interior Systems Co. Ltd., and Yazaki Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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