Press Release

Automotive Digital Cockpit Market to Witness a Surge at A CAGR of 14 % Through 2028

The Global Automotive Digital Cockpit Market is projected to grow at a CAGR of 14.0%in the forecast period of 2023-28, cites Markntel Advisors in the recent research report. The market growth is aided by the surging adoption of in-vehicle telematics, safety systems, infotainment systems, navigation, pollution sensors, and other technologically advanced features and services. Besides the rising demand for comfort, safety, and convenience in vehicles in emerging economies with the rise in living standards, disposable income, due to spreading urbanization, has been fueling the market growth.

With the rise in research and development in the safety features and added components of the modern car by manufacturers as a result of people’s rising interest in technology, accessibility, and luxurious convenience, the industry is likely to expect bolstering growth, further states the research report, “Automotive Digital Cockpit Market Analysis, 2023.”

Segmentation Analysis

The market is highly fragmented and segmented based on Display Technology, Application, Equipment, Vehicle Type, and Electric Vehicle Type. On the basis of Display Technology, the market is segmented into LCD, TFT-LCD, and OLED. Additionally, based on Application, the market is divided into Semi-Autonomous Vehicles, and Advanced Driver Assistance Systems. Depending on Vehicle Type, the market is segmented between Passenger Vehicles and Commercial Vehicles. Finally, on the basis of Electric Vehicle Type, the market is fragmented into Plug-in Hybrid Electric Vehicles, Battery Electric Vehicles, and Hybrid Electric Vehicles.

TFT LCD dominates the market fulfilling durability requirements

TFT-LCD is expected to win the largest market share among LCD, TFT-LCD, and OLED in the Display Technology segment, as they are extensively used in digital cockpit displays for vehicles to meet the temperature and durability requirements of all digital cockpit displays. In addition, OEMs use a combination of LCD and TFT in displays based on vehicle range temperature sensitivity and display function. On the other hand, the OLED segment is also expected to experience significant market growth, as is the adoption of certain vehicles with OLED display technology.

The Global Automotive Digital Cockpit Market is projected to grow at a CAGR of 14.0%in the forecast period of 2023-28, cites Markntel Advisors in the recent research report. The market growth is aided by the surging adoption of in-vehicle telematics, safety systems, infotainment systems, navigation, pollution sensors, and other technologically advanced features and services. Besides the rising demand for comfort, safety, and convenience in vehicles in emerging economies with the rise in living standards, disposable income, due to spreading urbanization, has been fueling the market growth.

With the rise in research and development in the safety features and added components of the modern car by manufacturers as a result of people’s rising interest in technology, accessibility, and luxurious convenience, the industry is likely to expect bolstering growth, further states the research report, “Automotive Digital Cockpit Market Analysis, 2023.”

Segmentation Analysis

The market is highly fragmented and segmented based on Display Technology, Application, Equipment, Vehicle Type, and Electric Vehicle Type. On the basis of Display Technology, the market is segmented into LCD, TFT-LCD, and OLED. Additionally, based on Application, the market is divided into Semi-Autonomous Vehicles, and Advanced Driver Assistance Systems. Depending on Vehicle Type, the market is segmented between Passenger Vehicles and Commercial Vehicles. Finally, on the basis of Electric Vehicle Type, the market is fragmented into Plug-in Hybrid Electric Vehicles, Battery Electric Vehicles, and Hybrid Electric Vehicles.

TFT LCD dominates the market fulfilling durability requirements

TFT-LCD is expected to win the largest market share among LCD, TFT-LCD, and OLED in the Display Technology segment, as they are extensively used in digital cockpit displays for vehicles to meet the temperature and durability requirements of all digital cockpit displays. In addition, OEMs use a combination of LCD and TFT in displays based on vehicle range temperature sensitivity and display function. On the other hand, the OLED segment is also expected to experience significant market growth, as is the adoption of certain vehicles with OLED display technology.