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Market Synopsis:Automotive cockpit electronics refer to controls and instruments that help in driving the vehicle. According to an assessment offered by Market Research Future (MRFR), the global automotive cockpit electronics market is anticipated to register moderate CAGR during the evaluation period 2017 to 2023.
The rising use of advanced technologies in the manufacturing of vehicles is expected to lead market growth over the next couple of years. the technology is more common in high-end luxury cars. Rising demand for luxury vehicles, coupled with the increasing purchasing power, is prognosticated to catapult the automotive cockpit electronics market on upward trajectory. The demand for electronics in automobiles is increasing in order to meet safety standards. It is projected to favor the growth rate of the global market in the nearby future.
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Market Segmentation:
The segments of the global automotive cockpit electronics market, based on product type, are telematics, HUD, infotainment & navigation, information display, instrument cluster, and others. Among these, the HUD segment is anticipated to dictate the growth of the market owing to the rising demand for luxury cars.
The segmental analysis of the automotive cockpit electronics market, on the basis of technology type, covers basic and advanced. The advanced segment is likely to lead the expansion of the market in the years to come. Increasing demand for the key features offered by advanced systems is poised to attract a larger customer base for the segment across the review period.
On the basis of the end market, the segments of the automotive cockpit electronics market are luxury cars, economic passenger car, and mid-scale priced vehicle. Among these, the luxury cars segment is assessed to account for the maximum share of the global market through the forecast period. The installation of high-end infotainment and display systems in luxury vars is prognosticated to boost the growth rate of the segment in the foreseeable future.
The global automotive cockpit electronics market has been divided on the basis of vehicle type, which covers passenger car and commercial vehicle.
Regional Analysis:
The geographical assessment of the global automotive cockpit electronics market, on the basis of region, has been segmented on the basis of region and also covers country-level analysis of the same. The key regions profiled in the study are North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific is expected to dominate the growth of the global market over the next couple of years. Increasing demand for automobile, in conjunction with consolidation of fast-developing nations, is expected to support the growth of the automotive cockpit electronics market in the forthcoming years. The strong economic development in countries such as China and Japan are anticipated to drive market growth in the years to come.
Europe is the second-largest regional segment and is likely to benefit from the rising number of passenger vehicles in the region. Germany is projected to contribute to the development of the automotive cockpit electronics market in the region over the next few years.
Competitive Dashboard:
Robert Bosch GmbH (Germany), IAV (Germany), Harman International (U.S), Continental AG (Germany), Visteon Corporation (U.S), Delphi Automotive PLC (U.K), Alpine Electronics Inc. (Japan), Denso Corp. (Japan), Johnson Controls (U.S.), and Magneti Marelli (Italy) are some of the few players in the global automotive cockpit electronics market that are anticipated to contribute substantially to market growth over the next couple of years. These players are presumed to resort to growth trajectories such as mergers & acquisitions, collaborations with end-users, product innovations, etc. Investments are likely to increase in research & development, which is prognosticated to encourage competition in the automotive cockpit electronics market in the years to come.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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