According to Markets and Markets research, the global automotive cockpit electronics market is projected to reach $51.54 billion by 2022, growing at a CAGR of 8.60% from 2017 to 2022. The major factors driving the growth include the growth in connected cars, rising demand for enhanced user experience and convenience features, and integration of smartphones with vehicles. Also, an important factor is the rising trend of hybrid vehicles equipped with advanced automotive cockpit electronics systems.
The instrument cluster is estimated to hold the largest market size, by volume, of the automotive cockpit electronics market in 2017. This is due to the rise in demand for automobiles across the globe, with every vehicle equipped with a basic or advanced instrument cluster. Infotainment and navigation is estimated to have the second largest market share as the demand for premium features is rapidly increasing.
