Automotive Digital Cockpit Global Market Report 2023

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New York, March 06, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Automotive Digital Cockpit Global Market Report 2023” – https://www.reportlinker.com/p06426335/?utm_source=GNW
, Marelli Holdings Co Ltd., Toshiba Digital Solution Corporation, WayRay AG and Magna International.

The global automotive digital cockpit market grew from $21.13 billion in 2022 to $23.71 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive digital cockpit market is expected to grow to $36.72 billion in 2027 at a CAGR of 11.6%.

The automotive digital cockpit market consists of revenues earned by entities by providing digital cockpit solutions such as safety-critical features, information, entertainment, navigation, ADAS, proactive artificial intelligence, and comfort controls.The market value includes the value of related goods sold by the service provider or included within the service offering.

The automotive digital cockpit market also includes sales of head-up displays, infotainment systems, navigation systems, embedded visualizations, smart voice assistance, Wi-Fi cameras, and HVAC controllers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

An automotive digital cockpit solution refers to digital interfaces that OEMs can use to overcome the limitations of traditional analog instrument clusters inside their cars, like parallax error of meter, which happens due to the viewing angle, and offer real-time data with digital interference. It is used for digital experiences within a car, encompassing multiple screens, digital assistants, and different input methods.

Asia-Pacific was the largest region in the automotive digital cockpit market in 2022. The regions covered in the automotive digital cockpit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of automotive digital cockpits are passenger vehicles and commercial vehicles.A passenger car refers to a road motor vehicle, other than a motorcycle, that is designed to transport passengers and seat no more than nine people (including the driver).

The various equipment includes a digital instrument cluster, driving monitoring system, and heads-up display. The display includes LCD, TFT-LCD, and OLED.

The increasing number of connected vehicles is expected to propel the growth of the automotive digital cockpit market going forward.A connected vehicle refers to a vehicle that has an inbuilt system of connectivity that makes it possible to access the internet and connect wirelessly to nearby devices.

The automotive digital cockpit helps connected vehicles unlock future connected car experiences and is envisioned as the key technology trend. For instance, according to Smartcar Inc., a US-based mobility developer platform, there are 30 million new connected vehicles sold in 2020, making up 41% of total new car sales worldwide. In the United States, 91% of cars sold are connected vehicles. That is over 13 million new connected cars. Therefore, an increasing number of connected vehicles is driving the growth of the automotive digital cockpit market.

Technological advances are the key trend gaining popularity in the automotive digital cockpit market.Major companies operating in the automotive digital cockpit market are introducing technological innovations such as 5G low latency technologies to sustain their position in the automotive digital cockpit market.

For instance, in January 2020, Samsung, a South Korea-based multinational manufacturing company with a subsidiary, Harman International, a US-based company that manufactures audio equipment for cars, co-developed and launched their pioneering digital cockpit 2020.Using 5G, it links features inside and outside of the vehicle, and it provides connected experiences to both drivers and passengers.

It also pairs with V2X technology and QLED Local Dimming1 technology.

In February 2021, DXC Technology Company, a US-based information technology services company, acquired Luxoft for the deal amount of $2 billion.Through this acquisition, DXC Technology Company aims to strengthen the digital requirements for customers and sustain its position in the market.

Luxoft is a Switzerland-based technology services provider that offers digital cockpit solutions through the development, integration, testing, digital cluster support, head-unit systems, rear-seat entertainment systems, and head-up displays.

The countries covered in the automotive digital cockpit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The automotive digital cockpit market research report is one of a series of new reports that provides automotive digital cockpit market statistics, including automotive digital cockpit industry global market size, regional shares, competitors with an automotive digital cockpit market share, detailed automotive digital cockpit market segments, market trends and opportunities, and any further data you may need to thrive in the automotive digital cockpit industry. This automotive digital cockpit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06426335/?utm_source=GNW

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