By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific Automotive Cockpit Electronics market accounted for ~39% in 2022. The Asia-Pacific region has been experiencing significant growth in the Automotive Cockpit The region comprises countries such as China and India, which are major automotive hubs in terms of vehicle production as well as sales.
Roadways is the cheapest way of transportation. Thus, there is considerable rise in the number of operating vehicles on roads, which is the major factor for increase in road accidents. It has been seen in the recent past that large share of road accidents is from developing countries such as India, China, Indonesia, and Brazil. Rise in road accidents drives various car manufacturers to install different active and passive safety systems and thereby preventing road mishaps.
Thus, car manufacturers are required to provide smart and crashworthy vehicles to curb the fatality on roads in developing countries where automobile safety regulations are more lenient than those in developed countries. Moreover, it has been observed that 80% of road traffic accidents occur in middle income countries such as Russia, Mexico, China, Thailand, and India, which comprises of 72% of population but only 52% of registered vehicles. This in turn creates demand for the vehicles with safety and security systems.
Figure 3: Automotive Cockpit Electronics Market Size By Region 2022 Vs 2032
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
North America market accounts for the second-largest market share. Some of the biggest automakers in the world, such as Tesla, Ford, and General Motors, are based in North America. These businesses are making significant investments in the creation of cutting-edge technology, such as infotainment and advanced driver assistance systems (ADAS), which are driving the growth of the cockpit electronics market.
For example, the US auto industry sold close to 2.86 BILLION cars in FY2022. The aerospace industry in North America is also a factor in the market expansion for cockpit electronics, in addition to the car industry. Some of the biggest aerospace firms, including Boeing and Airbus, which are creating cutting-edge avionics systems for both commercial and military aircraft, are based in the area,
The Europe Automotive Cockpit Electronics Market is expected to grow at the fastest CAGR between 2025 and 2034. The global key manufacturers of Automotive Cockpit Electronics include Bosch, Magneti Marelli, Alpine Electronics Inc., Panasonic Corporation, Continental AG, Denso Corporation, Samsung Electronics, etc. In 2022
There has been a substantial rise in the ownership of passenger cars in Eastern Europe and Arab countries. Germany is one of the nations with the highest number of commercial cars since it serves as a logistics hub for all of Europe. It is expected that the automobile sector will be primarily driven by expansion in the BRIC countries. There are developing nations that are seeing rapid growth in the cockpit electronics sector
