The digital cockpit provides solutions that include a cluster of digital instrument along with the infotainment system with one or two digital screens. The digital cockpit consist of three or more displays and knobs, and it is installed in vehicles according to passenger and driver requirements. The digital cockpit includes HMI applications, infotainment platforms, and wireless connectivity in the vehicle, which enhance the driving experience.
Increasing number of connected cars across the globe is anticipated to drive the automotive digital cockpit market during the forecast period. Modern vehicles contain a high number of electronic components. Furthermore, adoption of telematics, IOT, along with increasing use of navigation, information, and safety and remote diagnostics in connected vehicles is likely to propel the automotive digital cockpit market during the forecast period. Furthermore, rising demand for intelligent transportation system along with effective utilization of advanced technologies are creating safer connected vehicles, which is likely to propel the connected vehicle market and subsequently, the automotive digital cockpit market during the forecast period. Rising electric vehicle sales is likely to create a more positive environment for the automotive digital cockpit market during the forecast period.
The automotive digital cockpit market can be segmented based on equipment, vehicle type, electric vehicle, and region. Based on equipment, the automotive digital cockpit market can be segregated into advance head unit, head up display, camera based system, and others. The camera based system segment is likely to expand significantly during the forecast period, as human machine interface integration is increasing in vehicles coupled with increasing demand for driver monitoring system in order to enhance safety.
Based on electric vehicle, the automotive digital cockpit market can be classified into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Increasing demand for vehicles with minimum carbon emission along with stringent carbon emission norms and significant development in the field of fuel cell technology are anticipated to drive the electric vehicle market during the forecast period. Need for zero-emission transport facilities and reduction in carbon emission standards are likely to create positive environment for electric vehicle market.
In terms of vehicle type, the automotive digital cockpit market can be divided into passenger vehicle and commercial vehicle. The passenger vehicle segment is likely to hold a major share of the automotive digital cockpit market. Rate of adoption of latest technology in passenger vehicles is high, owing to the demand for premium and sports utility vehicles. High demand for premium sedans and SUVs is likely to boost the passenger vehicle segment.
Based on region, the automotive digital cockpit market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Stringent safety norms and high rate of adoption of latest technologies related to driver safety in Europe and North America are likely to fuel the adoption of digital cockpit system during the forecast period. However, Asia Pacific is likely to arise as a prominent market, owing to increasing awareness about safety among consumers and auto manufacturers.
Key players operating in the automotive digital cockpit market are Magneti Marelli, Valeo, Calsonic Kansei Corporation, Magna International, and ZF Friedrichshafen.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.