The Automotive Cockpit Module Market is being driven by Adoption of advanced HMI in mass-segment vehicles
The Automotive Cockpit Module Market is expected to grow at a CAGR of 6.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 28.3 billion. The autonomous driving sector is experiencing significant advancements, with numerous technology and automotive companies investing heavily in this field. The increasing acceptance of semi-autonomous features in both passenger and commercial vehicles is a testament to this trend. By the end of the forecast period, self-driving cars may become a reality, and the number of such vehicles on the road could increase substantially in the following decade. Major automotive players are making considerable progress towards achieving this goal. Moreover, the development and testing of advanced driver-assistance systems (ADAS) and telematics/connected vehicle applications and services are gaining momentum, which is expected to boost the growth of automotive cockpit modules.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
207 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.5% |
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Market growth 2025-2029 |
USD 28.3 billion |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
6.0 |
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Key countries |
US, China, Germany, UK, Canada, Japan, India, France, Italy, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
ai_research_analysis
The global automotive components and equipment market encompasses businesses producing parts and accessories for various automobile categories, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue of automotive component and equipment manufacturers. Key growth drivers in this sector include the surge in electronic components in automobiles, fueled by the rising sales of EVs, motorcycles, and PCs, leading to substantial demand for electronic control units (ECUs) and other electrical components over the past decade. Additionally, the proliferation of connected cars and the emergence of autonomous driving technology are expected to further boost market growth. OEMs (Original Equipment Manufacturers) and their suppliers are actively investing in research and development to meet the increasing demand for advanced automotive cockpit modules, which include dashboard systems, instrument panels, centre consoles, wiring harnesses, and instrument clusters, as well as steering wheels equipped with advanced features.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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