“Automotive Cockpit Electronics Market: Global Demand Analysis & Opportunity Outlook 2024” —
The global automotive cockpit electronics market is segmented into application type such as entertainment system application, passenger comfort application, active safety application, driver assistance application and other. Entertainment system application segment is expected to witness remarkable demand during the forecast period. The reasons behind the spurring growth of entertainment system application segment are swelled disposable income of the consumers, increasing demand for automotive electronics and rising demand for luxurious cars across the globe. Moreover, changing demand for vehicle electronics from analog to digital has boosted the automotive entertainment system market remarkably.
Global automotive cockpit electronics market is likely to thrive at 8.7% CAGR over the forecast period. Moreover, the global automotive cockpit electronics market was valued at USD 33.9 Billion in 2016 and is expected to reach at remarkable valuation by the end of 2024. Factors such as, increasing production of vehicles and growing technological advancements in automobiles are envisioned to drive the growth of automotive cockpit electronics market over the forecast period.
The mid-priced passenger cars segment by vehicle type is likely to expand at a considerable pace during the forecast period. Increasing middle-class world population coupled with rising per capita car ownership across the globe is a major factor which is anticipated to bolster the growth of this segment in future. Furthermore, leading vehicle manufacturers are looking forward to offer luxury features in mid-price vehicle to increase the sales in future.
Advancements in Technology
Rapid introduction of new & advanced technology products is anticipated to fuel the growth of automotive cockpit electronics market. Increasing affordability of consumers and growing demand for personal convenience in vehicles are some of the major factors which are anticipated to escalate the growth of market in near future.
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Increasing Demand for Connected Technologies
The demand for cars embedded with internet is increasing considerably and more than 70% of new cars are connected across the globe. Moreover, increasing implementation of connected infotainment solutions, car paly and android auto solutions is expected to foster the growth of global automotive cockpit electronics market during the forecast period. Although, high cost associated with repair and maintenance of technologically advanced cockpit electronics is anticipated to hinder the growth of the automotive cockpit electronics market in future.
The report titled “Automotive Cockpit Electronics Market : Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive cockpit electronics market in terms of market segmentation by product type, by application, by vehicle type and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive cockpit electronics market which includes company profiling of Robert Bosch GmbH, Visteon Corporation, Alpine Electronics Inc., Panasonic Corporation, Continental AG, Garmin Ltd, DENSO Corporation, Harman International Industries Inc., Clarion Company Ltd, and Delphi Automotive Plc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive cockpit electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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