New Product Launch is the Key Strategy Adopted by Major Players to Gain Traction in the Cockpit Electronics Market
The cockpit electronics market for automotive is projected to grow at a CAGR of 8.60% during the forecast period, to reach USD 51.54 Billion by 2022. The market growth is primarily driven by factors such as rising consumer demand for enhanced user experience and convenience features, growth in the connected vehicles, and integration of smartphones with vehicles.
New product launch is the key strategy adopted by major players to gain traction in the market. Delphi Automotive PLC (U.K.) has developed a 3D cluster, called as multi-layer display, which allows dynamic customization of in-vehicle displays and offers a visual experience. Likewise, Continental AG (Germany) has developed a range of user-friendly touch gestures for the cockpit to improve non-verbal communication between drivers and their vehicles.
The second most widely followed strategy by market players is expansion. In 2016, Robert Bosch GmbH (Germany) started a car multimedia plant in the Jiujiang Economic and Technological Development Zone in Wuhu, China. The facility will develop and produce automotive instrument meters, navigation systems, and connecting control units and will also offer related services to customers. Other companies that adopted the expansion strategy include Continental AG (Germany), Delphi Automotive PLC (U.K.), Denso Corporation (Japan), and Harman International (U.S).
The cockpit electronics market for automotive is dominated by a few global players. The key market players are Robert Bosch GmbH (Germany) and Continental AG (Germany). Robert Bosch GmbH (Germany) is one of the leading players in the market. The automotive cockpit electronics come under the driving comfort segment of Bosch’s mobility solutions. The company offers a wide range of solutions such as infotainment, navigation systems, and display systems such as head-up display and dual view display. The key strategy followed by the company is new product launch. The company has launched several products in the display systems segment and driver information systems to gain market share. In December 2016, Bosch launched a freely programmable instrument cluster, which is positioned directly in the driver’s field of view. The company has also developed an e-Call cloud-based automatic emergency call service in Japan. In January 2017, the company developed a new Combiner HUD with a scalable image generator that can be used with monochrome DSTN displays, TFT color displays, and laser scanners.
Continental AG (Germany) is a leading automotive component supplier. The product portfolio of its interior segment includes visual display systems, control elements, connectivity devices, and infotainment systems. The company has adopted the strategies of new product launch and partnership to increase its presence in the automotive cockpit electronics market. For instance, Continental AG developed eHorizon, a dynamic map system which provides real time data information of traffic, accident, and weather conditions. In 2016, Continental entered into a strategic partnership with DigiLens Inc. to develop ultra-thin Augmented Reality Head-up Displays (HUD).
Related Reports:
Cockpit Electronics Market for Automotive by Product (HUD, Information Display, Infotainment & Navigation, Instrument Cluster, and Telematics), Type (Basic and Advanced), End Market, Fuel Type, and Region - Global Forecast to 2022
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