Automotive Cockpit Electronics Market in North America to Worth $15 Billion by 2023
Arizton’s recent market research report on the automotive cockpit electronics market identifies Continental AG, Denso, HARMAN International (Samsung), Visteon Corporation, and Bosch as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market 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).
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The global automotive cockpit electronics market is divided into three major segments that include by product, by vehicle type, and by geography.
North America to grow at the fastest CAGR in the automotive cockpit electronics market during the forecast period
The automotive cockpit electronics market by geography is segmented into APAC, Europe, Latin America, North America, and MEA. North America is the fastest growing region in the market at a CAGR of more than 9% during the forecast period. North America occupied close to 28% of the total market share in 2017. The growing demand for luxury cars and premium vehicles is propelling the demand for automotive cockpit electronics in the North America market. The establishment of stringent government regulations that promote the adoption of automotive safety systems in the region will drive the growth of the market in this region.
The US, Mexico, and Canada are the largest revenue contributors in the automotive cockpit electronics market in North America.
The increasing efforts by leading vendors for the development of electric and hybrid powertrain based vehicles will drive the demand for advanced electronics in the North American market.
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HUD segment to grow at an impressive CAGR in the automotive cockpit electronics market during the forecast period
The product segment in the automotive cockpit electronics market is classified 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).
The heads-up display (HUD) is the fastest growing segment of the market at a CAGR of close to 26% and is projected to generate revenues of over $2 billion during the forecast period.
The HUD segment is further categorized into windshield-HUD and combiner-HUD. The growing need for the comfort of the driver, security needs, and safety regulations is attributing to the growth of this market segment in the global market. Though W-HUD holds the predominant market share in this segment, C-HUD is gaining traction in the market and is expected to generate high revenues during the forecast period.
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Economy cars to grow at a significant CAGR in the automotive cockpit electronics market during the forecast period
The automotive cockpit electronics market by vehicle type is divided into economy cars, luxury cars, and mid-priced cars. The economy cars segment accounted for more than 34% of the total market share in 2017 and is projected to grow at a CAGR of close to 7% during the forecast period. The use of cockpit electronics was initially limited to the luxury and premium car segment in the market, however, the trend is expected to catch on in the economy car segment over the next few years. The vendors are focusing on implementing basic cockpit electronic solutions in economy cars to gain a larger market share and attract new consumers. The OEMs are increasing their focus on integrating basic and advanced cockpit electronics solutions in their economy offerings owing to the increase in the sales of these vehicles in the global market.
The other prominent players in the automotive cockpit electronics market are 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, and Yazaki Corporation.
The complete overview of the latest market research report on automotive cockpit electronics market” by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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