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Infotainment and Navigation Segment is Expected to Witness Highest Growth by 2020 in The
Global Automotive Cockpit Electronics Market
According to a new market report published by Persistence Market Research “Global Market Study
on Automotive Cockpit Electronics: Infotainment and Navigation Segment to Witness Highest
Growth by 2020”, the global automotive cockpit electronics market was worth USD 31.1 billion in
2013 and is expected to grow at a CAGR of 12.0% during 2014 to 2020, to reach an estimated value
of USD 61.5 billion in 2020.
Growing per capita income and an economically active global population have led to the increase in
demand for personal conveyance. The global cockpit electronics market is growing mainly due to
the spurt in new car sales and the increasing affordability of consumers to install advanced
technologies in their vehicles. Technological advancements have been giving rise to competition in
the market due to which most leading companies are investing heavily in research and development
activities. The changing demand for vehicle electronics from analog to digital has boosted the
automotive infotainment market significantly.
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The per capita car ownership has been continuously rising due to the worldwide increase in the
middle-class population. According to the International Transport Forum of Organization for
Economic Cooperation and Development (OECD), the number of cars plying worldwide would
reach 2.5 billion by 2050. There has been a significant rise in passenger car ownership in the Arab
countries and Eastern Europe. Germany is the logistics hub of Europe and one of the countries with
the largest number of commercial vehicles.
According to a U.S.-based advisory firm, the global passenger car sales are expected to rise from 81
million in 2012 to 116 million by 2020. Brazil, Russia, India, and China (BRIC countries) are
expected to be the major growth drivers of the automotive industry. Improving economy,
advancements in road infrastructure, and the rising inclination of individuals towards personal
conveyance are the key factors augmenting the growth of an automotive industry.
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Growing concerns of the consumers regarding the safety has increased the demand for automated
passenger cars that gives the drivers higher control over their vehicles. Infotainment has seen a
significant rise in the recent years since the consumers are seen to be inclined towards a more
informed driving experience.
Eurozone crisis remains a key concern for the automotive cockpit electronics market and has
affected the OEM sales in the region. However, the market is expected to gain momentum in this
area towards the end of the forecasted period as a result of expected improvements in the economy.
With the tightening of regulations for the passenger car manufacturers (for instance, the TPMS
becoming mandatory for new vehicles in Europe), plenty of opportunity awaits the automotive
cockpit electronic companies in the near term.
The advancements in technology have been compelling the companies to develop new products in a
bid to be competitive. Companies have been investing heavily in research and development
activities to develop new technology products. The major players in the automotive cockpit
electronics industry include Continental, Denso, Visteon, Harman, Alpine, Panasonic, Delphi,
Bosch, and Pioneer.
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