The cockpit electronics market for automotive is projected to grow at a CAGR of 8.60% from 2017 to 2022, to reach a market size of USD 51.54 Billion by 2022.
Seattle, WA -- (SBWIRE) -- 07/05/2017 -- The report "Cockpit Electronics Market for Automotive by Product (HUD, Information Display, Infotainment & Navigation, Instrument Cluster, and Telematics), Type (Basic and Advanced), End Market, Fuel Type, and Region - Global Forecast to 2022", The cockpit electronics market for automotive is projected to grow at a CAGR of 8.60%, from USD 34.12 Billion in 2017 to USD 51.54 Billion by 2022.
Browse 100 Market Data Tables and 66 Figures spread through 209 Pages and in-depth TOC on "Cockpit Electronics Market - Global Forecast to 2022"
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The major factors driving the growth of the automotive cockpit electronics market are growth in connected vehicles, rising demand for enhanced user experience and convenience features in the vehicle, and integration of smartphones with vehicles.
The basic cockpit electronics segment is estimated to be the largest market in the cockpit electronics market for automotive
The basic cockpit electronics segment is estimated to have the largest market share. This can be attributed to the rising demand for basic electronic equipment such as combiner HUDs, infotainment units, and basic telematics in economic and mid-priced passenger cars.
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Head-Up Display is estimated to be the fastest growing product in the cockpit electronics market for automotive
Head-Up Display (HUD) is estimated to be the fastest growing segment in the automotive cockpit electronics market, by product, due to its safety and convenience features. HUD shows the necessary information such as current speed, navigation, and temperature on the windshield. It, therefore, prevents the driver from distracting the eyesight and helps to stay focused on the road. This is a safety feature as the driver does not need to take his eyes away from the windshield.
North America: Second Largest region in Cockpit Electronics Market for Automotive
North America is estimated to be the second largest market, by value, for automotive cockpit electronics in 2017. The market growth in the region can be attributed to the high-income levels, changing consumer preferences, and rapid technological advancements. Increased awareness of safety features has also fueled the demand in the region. Germany is estimated to be the largest automotive cockpit electronics market in Europe. Germany also accounts for one of the biggest shares in the global automotive cockpit electronics market. The registration of cars in the European Union has been observed to be increasing on year on year basis. Thus, there is a huge growth opportunity for the automotive cockpit electronic companies in the near future.
The report covers all the major players in the automotive cockpit electronics market including Robert Bosch GmbH (Germany), Continental AG (Germany), Visteon Corporation (U.S.), Denso Corporation (Japan), and Delphi Automotive PLC (U.K.).
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