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
SEMI Applauds U.S. Chips Act Award for Samsung Electronics Facilities to Strengthen Domestic Semiconductor Supply Chain
04/17/2024 | SEMISEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the United States Department of Commerce’s announcement of a Preliminary Memorandum of Terms for an award under the CHIPS and Science Act to support the expansion of Samsung Electronics’ presence in Texas and the company’s development and production of leading-edge chips.
Northrop Grumman honors Calumet Electronics with Supplier Excellence Award
04/17/2024 | Calumet ElectronicsNorthrop Grumman Corporation has recognized Calumet Electronics during the company’s 2024 Supplier Excellence Awards for “exceptional performance and unwavering commitment to delivering with excellence.” Calumet is one of 70 suppliers recognized from across the globe. In its award category of “Supplier Strategic Excellence,” Calumet was honored alongside global corporations such as Amazon Web Services, Dell Technologies, and Eaton Corporation.
Ark Electronics Expands Global Manufacturing Factory Network in North America and Europe
04/17/2024 | PRNewswireElectronic Manufacturing Company Ark Electronics recently announced the expansion of its Global Factory Network with the addition of Electronics Manufacturing Service (EMS) capabilities in Mexico and Europe.
Designing Electronics for High Thermal Loads
04/16/2024 | Akber Roy, Rush PCB Inc.Developing proactive thermal management strategies is important in the early stages of the PCB design cycle to minimize costly redesign iterations. Here, I delve into key aspects of electronic design that hold particular relevance for managing heat in electronic systems. Each of these considerations plays a pivotal role in enhancing the reliability and performance of the overall system.
New Yorker, Geyer Electronic Sign New Distribution Agreement
04/16/2024 | New Yorker Electronics Co.New Yorker Electronics, global distributor of electronic components, recently announced a new franchised distribution agreement with Geyer Electronic. Geyer is an international manufacturer of Quart Crystals, Oscillators and Resonators.