Automotive Automotive Cockpit Electronics Market | 页面 2

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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