Cockpit Electronics Market for Automotive Global Forecast to 2022
July 14, 2017 | PRNewswireEstimated reading time: 1 minute
Growth in connected vehicles and rising demand for enhanced user experience and convenience features to fuel the demand for automotive cockpit electronics market.
The global automotive cockpit electronics market is projected to reach a market size of USD 51.54 billion by 2022, growing at a CAGR of 8.60% from 2017 to 2022.
The major factors driving the growth of this market include the growth in connected cars, rising demand for enhanced user experience and convenience features, and integration of smartphones with vehicles. The rising trend of hybrid vehicles equipped with advanced automotive cockpit electronics systems is also an important factor to be considered.
The instrument cluster is estimated to be the largest segment of the automotive cockpit electronics market in terms of volume
The instrument cluster is estimated to hold the largest market size, by volume, of the automotive cockpit electronics market in 2017. This is due to the rise in demand for automobiles across the globe, with every vehicle equipped with a basic or advanced instrument cluster. Infotainment & navigation is estimated to have the second largest market share in the automotive cockpit electronics market as the demand for premium features is increasing rapidly in the automotive industry.
The Mid-Priced Passenger Vehicle is estimated to be the largest segment
The mid-priced passenger vehicle is estimated to hold the largest market size during the forecast period. This is because most of the mid-priced passenger vehicles are now equipped with the infotainment unit, combiner HUD, and basic telematics applications. These systems were initially equipped in the luxury vehicles only. The reducing cost of components along with increasing competition among major players across the ecosystem has also helped to reduce the overall cost of electronics systems. This has led to the inclusion of these features in the mid-priced passenger vehicles at an affordable price.
Asia-Pacific is estimated to be the largest market for automotive cockpit electronics in terms of volume
In 2017, the largest regional market for automotive cockpit electronics is the Asia-Pacific market. The market growth in the region can be attributed to the rising disposable income in developing countries like India and China and demand for premium and comfort features. The Asia-Pacific market is also the fastest growing market, in terms of value. It is dominated by China, a key market for automotive cockpit electronics in the region.
Suggested Items
Real Time with… IPC APEX EXPO 2024: Magnalytix's Services and Trends in the Electronics Industry
05/10/2024 | Real Time with...IPC APEX EXPOMike Bixenman, president of Magnalytix, explains Magnalytix's services, including third-party validation, test boards, electrical testing, and comprehensive reports. He also discusses emerging trends such as power electronics and reliability. Standards and design improvements also form part of this conversation.
Podcast Review: On the Line with… Designing for Reality
05/09/2024 | Duane Benson, Positive Edge LLCAs a technologist, if I were forced to come up with just one recurring theme that I might call a professional “nemesis,” it would be the difference between theory and reality. A lot of technology we have at our disposal works well in theory but falls short when reality hits. That’s not the only reason I chose to listen to and review On the Line with… Designing for Reality, featuring a series of conversations with ASC Sunstone’s Matt Stevenson, but it certainly helped that the title caught my eye.
AIM Solder Signs Shinil Fl Ltd. as New Distributor for Korea
05/08/2024 | AIM SolderAIM Solder, a leading global manufacturer of solder assembly materials for the electronics industry, is pleased to announce a new distribution partnership with Shinil Fl Ltd., a prominent supplier of technological solutions in the SMT and semiconductor sectors.
KYZEN’s Adam Klett to Keynote at SMTA Electronics in Harsh Environments Conference
05/07/2024 | KYZEN'KYZEN, the global leader in innovative environmentally friendly cleaning chemistries, announced today that KYZEN’s Director of Science, Adam Klett, PhD will present as a keynote speaker at the SMTA Electronics in Harsh Environments Conference. The event is scheduled to take place May 14-16, 2024 at the Technical University of Denmark in Copenhagen, Denmark.
Altus Equips SSTL with Advanced Cleaning Technology for Electronics
05/07/2024 | Altus GroupAltus Group, a leading supplier of capital equipment for the electronics manufacturing industry, has announced the successful installation of an advanced PCBA cleaning system at Surrey Satellite Technology Limited (SSTL).