Global Next-Generation Digital Cockpit Market By Equipment Type (Digital Instrument Cluster, Driving Monitoring System, Head-Up Display(HUD), Advanced Head Unit, and Other Equipment Types), By Display, By Vehicle Type, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 102255
- Number of Pages: 325
- Format:
- keyboard_arrow_up
Quick Navigation
Report Overview
The Global Next-Generation Digital Cockpit Market size is expected to be worth around USD 61.4 Billion by 2032, From USD 23.2 Billion by 2023, growing at a CAGR of 10.50% during the forecast period from 2023 to 2032.
The next-generation digital cockpit is an all-digital software-in-vehicle dashboard system that helps drivers as well as passengers commute safely and perform advanced driving functions. The digital cockpit is a combination of infotainment, rear seat entertainment, cluster, and heads-up display. The ideal digital cockpit includes connectivity, user experience, safety, technology, and user safety.
The next-generation cockpit has several benefits, such as a phone book, computer information, and audio, and offers a full-screen display that provides detailed information. The interconnected devices and sensors make more information available in the cockpit than ever before.
The air/ground links in the next-generation digital cockpit can provide ATC clearance, instructions, weather depiction, field condition reports, and NOTAMS. The cockpit of Airbus A350 XWB is the most technologically and economically advanced cockpit. Increasing demand for M2M services and penetration of connected vehicles are driving market growth.
Driving Factors
Technological Advancements in Digital Cockpit Driving the Growth of the Next-Generation Digital Cockpit Market
The rising penetration of technological advancements in automotive such as the Internet of Things (IoT), augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) in the automotive digital cockpit market, is the primary factor for market growth. The increasing popularity of connected cars across the globe is driving the market growth.
Modern vehicles are technologically advanced with digital cockpits and electronic devices, which provide real-time information for passengers and drivers. This enhances the user experience by providing better consumer services. Adopting vehicle telematics, safety, pollution sensors, and navigation systems is the major factor driving the market growth.
Increasing Demand for Luxury Cars Driving the Growth of the Next-Generation Digital Cockpit Market
The increasing digitalization and rising disposable income resulted in the increasing adoption of luxury vehicles with advanced digital cockpit services driving the automotive digital cockpit market.
The digital cockpit is very useful in capturing details of connected cars and autonomous vehicle technology while on-road traveling. This provides safety services to passengers and drivers by determining the driver’s alertness and external environmental conditions and helps avoid collisions and accidents.
Also, the introduction to advanced and fast 5G network services provides a better user experience. The demand for convenience, comfort, and safe vehicles is increasing mostly in developing and developed economies, boosting market growth. The increasing adoption of passenger cars is driving the market growth. Over 90% of passenger cars have OLED displays, providing real-time data information and safety.
Restraining Factors
High Initial Costs and High Battery Consumption Expected to Hamper Market Growth
Automotive digital cockpits are technologically advanced, and the initial implementation costs of this are very high, hampering the market growth. The automotive digital cockpits consume more electricity, thus, resulting in early battery drainage issues. Also, increasing regular maintenance costs is expected to have a negative impact on the growth of the automotive digital cockpit market.
Growth Opportunities
Increasing Safety Concerns Expected to Create Lucrative Growth Opportunities in the Next-Generation Digital Cockpit Market
The increasing developments in the consolidation of ECUs and domain controllers in digital cockpit equipment are expected to drive the market in the forecast period. Increasing innovations and developments in the field of artificial intelligence (AI), human-machine interface, and augmented reality (AR) are expected to create major opportunities in the market.
Due to the increasing concerns regarding driver’s and passenger’s safety & security due to increasing accidents & collision cases, car manufacturers are adopting digital cockpit equipment such as driving monitoring systems, head-up display(HUD), and advanced head unit systems which provide advanced security, expected to drive the market during the forecast period.
Trending Factors
Consumers Preferring Luxury Cars with Advanced Digital Cockpit Systems is an Ongoing Trend in the Market
Consumers worldwide prefer vehicles with advanced safety and security functions; therefore, manufacturers of auto cars provide digital cockpit equipment to meet consumers’ demands. The automotive digital cockpit provides vital information, including road maps and driver assistance features that help drivers and passengers commute and drive safely.
The demand for luxury cars is increasing among individuals due to rising disposable income. Thus, they are more inclined towards vehicles with luxury services. Car manufacturers such as Mercedes, Audi, and BMW companies are adopting automotive digital cockpit equipment in their cars to expand their business and stay competitive in the market. These are some key industry trends currently observed in the next-generation digital cockpit market.
Equipment Type Analysis
The Driver Monitoring System Segment is Dominant in the Market, with Largest Revenue Share
On the basis of equipment type, the next-generation digital cockpit market is segmented into advanced head units, driving monitoring systems, head-up displays (HUD), digital instrument clusters, and other equipment types. The driving monitoring system segment was dominant in the market, with the largest market revenue share of 49% in 2022.
The driving monitoring system provides safety by measuring the driver’s alertness to help prevent accidents on the road or detect prohibited behavior. DMS also offers interactive features such as navigation, entertainment, cabin climate control, and many safety and security features such as advanced driver assistance systems.
Technological advancements in autonomous vehicles are the major key factors for the growth of the equipment segment. The DMS is also referred to as the next generation of safety features in-vehicle technology.
The manufacturers in the market are focusing on the implementation of DMS in middle-economic vehicles. This is expected to drive the market during the forecast period. The digital monitoring system uses infrared sensors that monitor the driver’s attentiveness.
This system uses a CCD camera placed on the steering, continuously tracking the driver’s face using infrared LED detectors. DMS systems enhance security and save lives; thus, the demand is expected to increase during the forecast period.
The head-up display segment is expected to grow at the fastest CAGR during the forecast period due to technological advancements in next-generation cockpits. The drivers get all the information, such as speed, warning signals, and indicator arrows for navigation, without looking down at the instrument cluster. The introduction of augmented reality in head-up display systems is expected to drive the market in the forecast period.
Display Analysis
TCF-LCD Segment is Dominant in the Market, with Largest Market Share
By display, the next-generation digital cockpit market is classified into LCD, TFT-LCD, and OLED. The TFT-LCD display segment was dominant in the market, with the largest market revenue share of 56% in 2022. These displays are commonly used in automotive digital cockpit displays to find out durability and temperature standards.
The TCF-LCD displays in automotive digital cockpits offer superior sharpness, and they are energy efficient and deliver a fast refresh rate as compared to other displays. These displays are based on range temperature sensitivity in vehicles and the function of the display. The introduction of virtual cockpits in automotive is driving the growth of the segment.
The OLED segment is expected to grow at the fastest CAGR during the forecast period due to the increasing adoption of luxury cars. The integrated OLED displays provide a first-class user experience and offer car manufacturers the opportunity for differentiation and individualization.
This display provides a very wide viewing angle and improves readability. The cars such as the AUDI e-tron, Cadillac Escalade, and Mercedes S-Class have OLED displays that offer a luxury experience to consumers.
Vehicle Type Analysis
Passenger Car Segment is Dominant in the Market, with the Largest Market Revenue Share
The next-generation digital cockpit market is segmented based on vehicle type into passenger cars and commercial vehicles. The passenger car segment was dominant in the market, with the largest market revenue share of 75% in 2022.
The increasing demand for connected cars is driving the growth of the segment. Also, automotive manufacturers are focusing on technological advancements to provide a better user experience to consumers, which has boosted the demand for automotive digital cockpits. The Kia Carens, BYD’s new hybrid off-road SUV, Lamborghini, and Honda City cars use the automotive digital cockpit.
The penetration of 4th generation snapdragon cockpit platforms in passenger cars serves as a central hub for high-performance computing and artificial intelligence (AI) in the automotive digital cockpit. The commercial vehicle segment is expected to grow at the fastest CAGR during the forecast period due to increased commercial vehicle adoption and demand for M2M communication.
Key Market Segments
By Equipment Type
- Digital Instrument Cluster
- Driving Monitoring System
- Head-Up Display(HUD)
- Advanced Head Unit
- Other Equipment Types
By Display
- LCD
- TFT-LCD
- OLED
By Vehicle Type
- Passenger Vehicles
- Commercial vehicles
Regional Analysis
Asia Pacific region was dominant in the market, with the largest share of 45% in 2022. The growth of the region is attributed to increased production and sales of passenger vehicles in emerging economies such as China, India, and Japan. The region’s demand for mid-sized premium luxury vehicles is increasing due to rising disposable income.
China’s passenger car demand was about 320 million units in 2022. Also, India is the third largest road network with passenger cars 295.8 million units.
The presence of major players such as Volkswagen AG, Hyundai Motor Company, and Toyota Motor is driving the regional growth of the market. The majority of premium car manufacturers in the region install advanced automotive display features in vehicles, which is projected to drive the market.
Europe is anticipated to gain significant market growth during the forecast period. The Europe region is the hub of major companies in the automotive digital cockpit market and OEMs. The region’s competitive landscape of key players such as Jaguar, Daimler, BMW, Nissan, and Land Rover is driving the market growth in Europe.
North America is expected to show steady growth during the forecast period due to increasing technological advancements in developed countries such as the United States, Canada, and Mexico.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
The major key players in the next-generation digital cockpit market are focusing on equipment innovations to provide a better user experience. Key companies are focusing on business dynamics such as merging, acquisition, and collaboration to stay competitive in the market.
Market Key Players
Listed below are some of the most prominent key market players in the next-generation digital cockpit market
- Continental AG
- Denso Corporation
- Faurecia SE
- Garmin Ltd.
- HARMAN International
- Hyundai Mobis
- Panasonic Corporation
- Pioneer Corporation
- Visteon Corporation
- Robert Bosch GmbH
- Aptiv PLC
- DXC Technology Company
- Other Key Players
Recent Developments
- In January 2022, Aptiv announced that they had acquired Wind River System, a company that is the manufacturer of real-time operating systems.
- In April 2022, Robert Bosch GmbH announced it had acquired the Dresden-based MEMS micro speaker producer Ariso Systems.
Report Scope
Report Features Description Market Value (2022) US$ 23.2 Bn Forecast Revenue (2032) US$ 61.4 Bn CAGR (2023-2032) 10.5% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Equipment Type- Digital Instrument Cluster, Driving Monitoring System, Head-Up Display(HUD), Advanced Head Unit, and Other Equipment Types: By Display- LCD, TFT-LCD, and OLED: By Vehicle Type-Passenger Cars, and Commercial Vehicles Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; The Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Continental AG, Denso Corporation, Faurecia SE, Garmin Ltd., HARMAN International, Hyundai Mobis, Panasonic Corporation, Pioneer Corporation, Visteon Corporation, Robert Bosch GmbH, Aptiv PLC, DXC Technology Company, and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
How big is the next-generation digital cockpit market?The next-generation digital cockpit market will be valued at US$ 61.4 billion by 2032 at a CAGR of 10.5%
What is a next-generation digital cockpit market?A next-generation digital cockpit market includes all-digital software-in-vehicle dashboard system that combines infotainment, rear seat entertainment, cluster, and heads-up display functionalities.
What are the dominant equipment types in the next-generation digital cockpit market?The dominant equipment types in the market include advanced head units, driver monitoring systems, head-up displays (HUD), digital instrument clusters, and other equipment types.
Which vehicle type holds the largest market share in the next-generation digital cockpit market?The passenger car segment holds the largest market share, driven by the increasing demand for connected cars and technological advancements in the automotive industry.
What opportunities exist in the next-generation digital cockpit market?The increasing focus on safety concerns, advancements in artificial intelligence (AI) and augmented reality (AR), and the consolidation of electronic control units (ECUs) and domain controllers present lucrative growth opportunities in the market.
Which region dominates the next-generation digital cockpit market?Asia Pacific region dominates the market with the largest share, driven by increased production and sales of passenger vehicles, especially in countries like China, India, and Japan.
Who are some of the major players in the next-generation digital cockpit market?Key players in the market include Continental AG, Denso Corporation, Faurecia SE, Garmin Ltd., HARMAN International, Hyundai Mobis, Panasonic Corporation, Pioneer Corporation, Visteon Corporation, Robert Bosch GmbH, Aptiv PLC, DXC Technology Company, and other key players.
What trends are observed in the next-generation digital cockpit market?The ongoing trend is the preference for luxury cars equipped with advanced digital cockpit systems, providing vital information, road maps, driver assistance, and enhancing overall safety and convenience.
Next-Generation Digital Cockpit MarketPublished date: Oct 2023add_shopping_cartBuy Now get_appDownload Sample - Continental AG
- Denso Corporation
- Faurecia SE
- Garmin Ltd.
- HARMAN International
- Hyundai Mobis
- Panasonic Corporation Company Profile
- Pioneer Corporation
- Visteon Corporation
- Robert Bosch GmbH
- Aptiv PLC
- DXC Technology Company
- settingsSettings
Our Clients
Single User $4,599 $3,499 USD / per unit save 24% | Multi User $5,999 $4,299 USD / per unit save 28% | Corporate User $7,299 $4,999 USD / per unit save 32% | |
---|---|---|---|
e-Access | |||
Report Library Access | |||
Data Set (Excel) | |||
Company Profile Library Access | |||
Interactive Dashboard | |||
Free Custumization | No | up to 10 hrs work | up to 30 hrs work |
Accessibility | 1 User | 2-5 User | Unlimited |
Analyst Support | up to 20 hrs | up to 40 hrs | up to 50 hrs |
Benefit | Up to 20% off on next purchase | Up to 25% off on next purchase | Up to 30% off on next purchase |
Buy Now ($ 3,499) | Buy Now ($ 4,299) | Buy Now ($ 4,999) |