The country’s cockpit electronics market is witnessing high growth due to its increasing per capita consumption and escalating urbanization (which stood at approximately 87% in 2013).

New York, NY -- (SBWire) -- 04/14/2015 --According to a new market report published by Persistence Market Research "Global Market Study on Automotive Cockpit Electronics: Infotainment and Navigation Segment to Witness Highest Growth by 2020", the global automotive cockpit electronics market was worth USD 31.1 billion in 2013 and is expected to grow at a CAGR of 12.0% during 2014 to 2020, to reach an estimated value of USD 61.5 billion in 2020.

Browse the full Global Market Study on Automotive Cockpit Electronics: Infotainment and Navigation Segment to Witness Highest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/automotive-cockpit-electronics-market.asp

Growing per capita income and an economically active global population have led to the increase in demand for personal conveyance. The global cockpit electronics market is growing mainly due to the spurt in new car sales and the increasing affordability of consumers to install advanced technologies in their vehicles. Technological advancements have been giving rise to competition in the market due to which most leading companies are investing heavily in research and development activities. The changing demand for vehicle electronics from analog to digital has boosted the automotive infotainment market significantly.

Eurozone crisis remains a key concern for the automotive cockpit electronics market and has affected the OEM sales in the region. However, the market is expected to gain momentum in this area towards the end of the forecasted period as a result of expected improvements in the economy. The registration of new cars in the European Union has been observed to be increasing every month as compared to the sales in the same month for the previous year.

According to the European Automobile Manufacturers's Association (EAMA), Spain, the U.K., and Italy witnessed the strongest growth in the passenger car sales in October 2014 as compared to October 2013. Most major countries in the European Union are witnessing growth in automobile sales. Germany was the largest passenger car market in European Union in 2014; however, France produced a higher number of cars as compared to Germany. With the tightening of regulations for the passenger car manufacturers (for instance, the TPMS becoming mandatory for new vehicles in Europe), plenty of opportunity awaits the automotive cockpit electronic companies in the near term.

Certain developing countries are reporting high growth rates in the cockpit electronics market. Brazil was the sixth largest automobile producer globally. It is a young country with over half of its population below thirty years of age and over 70% of its population economically active. However, the slowdown of its economy since 2010 has affected automobile sales in the country. The country's cockpit electronics market is witnessing high growth due to its increasing per capita consumption and escalating urbanization (which stood at approximately 87% in 2013).

The major players in this industry include Continental, Denso, Visteon, Harman, Alpine, Panasonic, Delphi, Bosch, and Pioneer. The companies are making new investments to improve their technology in order to retain their competitiveness in the industry. For instance, Denso, Harman, and Delphi are actively funding their research and development activities.

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Below is the segmentation done by Persistence Market Research for global market study on automotive cockpit electronics:

1) Market Size and Forecast by Product Segment

Market Size and Forecast (by value)

Information and Controls

Electronic Power Assisted Steering (EPAS) and Tire Pressure Monitoring Systems (TPMS)
Head-up Display

Infotainment and Navigation

Rear-seat Entertainment
Navigation

Audio and Connectivity

Audio Systems
Wireless Systems

2) Market Size and Forecast by Region

North America

Market Size and Forecast by Country (by value)
Market Size and Forecast by product segments (by value)

Europe

Market Size and Forecast by Country (by value)
Market Size and Forecast by product segments (by value)

Asia Pacific

Market Size and Forecast by Country (by value)
Market Size and Forecast by product segments (by value)
Rest of the World (RoW)
Market Size and Forecast by product segments (by value)

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