Global Automotive Cockpit Module Market 2019-2023
About this market
In-car personalization experience enhances customer satisfaction without compromising on vehicle safety and quality. A vehicle owner makes purchasing choices that reflect one's character and style statement. Regulatory norms prohibit any major modification in vehicle structure, but an all-featured center console on the fingertips enhances the premium appeal of a cabin's ergonomics to create an advantage in the market. The increasing safety and comfort features in modern vehicles find a place in the vehicle's cockpit which acts as a direct point of interaction between the driver and the vehicle. Cockpit modules, therefore, integrate these additional systems in a compact and neat manner to give a premium appeal to vehicle interiors. Technavio’s analysts have predicted that the automotive cockpit module market will register a CAGR of over 5% by 2023.
Adoption of advanced human- machine interfaces (HMI) in mass segment vehicles
The cockpit is one of the most important interior applications in a vehicle as it offers crucial control points to the driver. Vehicle manufacturers have been integrating automation with automotive cockpits to enhance utility and driver comfort. Electrification is driving technological developments in vehicle cockpits, and this will benefit the global automotive cockpit module market during the forecast period.
Increasing cost pressures on automotive OEMs
Suppliers are under con a pressure to reduce the weight of automotive interior components during the manufacturing process. Manufacturers prefer lightweight automotive interiors to enhance the fuel efficiency of vehicles. However, making interior components lightweight require high-cost materials as inputs, which raises production costs substantially.
For the detailed list of factors that will drive and challenge the growth of the automotive cockpit module market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Automotive Cockpit Module Market 2019-2023
Technavio recognizes the following companies as the key players in the global automotive cockpit module market: Continental AG, Faurecia, Grupo Antolin, Samvardhana Motherson Group, Visteon Corporation.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the connected vehicle technology and internet of Things (IoT).”
According to the report, one of the major drivers for this market is the rising global automotive sales.
Further, the report states that one of the major factors hindering the growth of this market is the high degree of complexity associated with the designs of automotive display systems negatively impacts the functioning of market players and is adversely for the market.
Samvardhana Motherson Group
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