As per the report, a large pool of consumers prefer to pay a premium price for integrated infotainment systems. Therefore, this factor has become a major reason for the growth of Automotive Cockpit Electronics Industry. The other factors that are responsible for the growth of the market during the forecast period are increase in the per capita income of the customers, and growing demand for the advanced autonomous cars with changing demand for advanced electronics devices.
The automotive market has evolved from being conventional to being technology driven. Nowadays, head-up display, advanced infotainment systems, and other have been developed to assist the driver and passenger. The automotive cockpit electronics are developed and manufactured with the OEMs so as to offer continuous innovation in the design and match the needs of the consumers. The cockpit electronics manufacturers are making heavy investments into R&D so as to develop technology to reduce the driving efforts of the drivers. The OEM are also investing in R&D to gain a competitive edge in the market by majorly focusing on system integration and new functionality, which would offer better features to the consumers.
The Automotive Cockpit Electronics Industry is expected to grow at the CAGR of around 8.52% during the period 2017 to 2023.
On the basis of vehicle type, passenger car is expected to dominate the Automotive Cockpit Electronics Industry during the forecast period due to increase in the production of passenger cars in Asia Pacific region. The market for automotive cockpit electronics is primarily driven by rising demand for passenger car among large pool of population, and increasing per capita income in emerging countries. The growing sales of passenger cars is significantly boosting the Automotive Cockpit Electronics Industry during the forecast period.
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We recognize the key players in the global Automotive Cockpit Electronics Industry as Robert Bosch GmbH (Germany), Continental AG (Germany), Harman International (U.S), Visteon Corporation (U.S), and Delphi Automotive PLC (U.K), Denso Corp. (Japan), Alpine Electronics Inc. (Japan), Johnson Controls (U.S.), IAV (Germany), Magneti Marelli (Italy), and others.
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