Wilmington, Delaware, United States, July 31, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global smart vehicle cabin market was valued at US$ 67.0 Bn in 2022 and is projected to expand at a CAGR of 9.2% from 2023 to 2031. Rise in demand for cutting-edge, connected, and autonomous technologies in vehicles is fueling the global market.
Smart vehicle cabin is primarily deployed for driver or passenger monitoring, fleet management, and vehicular tracking. Increase in awareness about advanced safety features in vehicles is fueling market development.
A smart vehicle cabin system is equipped with advanced technologies. It comprises in-cabin monitoring system or a number of sub-systems such as occupant monitoring system or driver monitoring system. These sub-systems are either part of a centralized processing unit or function as independent systems with their own sensors.
The car riding experience has transformed in the past few years. This can be attributed to transformation of interiors of cars, which provide enhanced safety, comfort, and pleasure. The interiors of modern vehicles are referred to as smart cabins, as they have various advanced functionalities.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 67.0 Bn | |
| Estimated Value | US$ 148.1 Bn | |
| Growth Rate - CAGR | 9.2% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 240 Pages | |
| Market Segmentation | By Application, Component/System, Vehicle Type, Propulsion, Sales Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | HARMAN International, Analog Devices, Inc., BlackBerry Limited, HYUNDAI MOBIS, Panasonic Corporation, SenseTime, Texas Instruments Incorporated, Valeo, Jungo, Xilinx, Xperi Corporation, Yanfeng Automotive Interiors, General Motors, Jaguar (JRL), NXP Semiconductors NV, Bitsensing Inc, Robert Bosch Inc., Infineon Technologies, Denso Corporation, Smart Radar System | |
Key Findings of Study
Rise in Demand for Next-gen Vehicles – Increase in customer preference for vehicles with advanced safety features is leading to rise in demand for next-gen vehicles. These vehicles feature AI-powered cabins that offer several benefits such as intelligent in-car support and improved driver experience and safety.
Inclusion of cutting-edge systems in vehicles is resulting in improved experience for passengers and drivers. For instance, Daimler AG’s MBUX Interior Assistant employs an AI-based gesture input system for enhanced interaction of occupants with the vehicle. Therefore, integration of cutting-edge technologies and rise in adoption of next-gen vehicles are likely to boost market size during the forecast period.
Increase in Awareness about Vehicle Safety – The number of vehicles on roads have increased significantly in the past few years. This has induced transportation departments to implement adequate safety measures to minimize traffic congestion and reduce the number of road accidents. Therefore, need for improved vehicle safety is anticipated to fuel the demand for smart cabin systems in vehicles in the near future.
Integration of Smart Cabin Systems in Passenger Vehicles – Based on vehicle type, the passenger vehicle segment is expected to account for leading share of the global market during the forecast period. Demand for passenger vehicles, including sedans, hatchbacks, and utility vehicles, is rising at a steady pace across the globe. Inclusion of smart cabins in passenger vehicles in gaining traction among OEMs.
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Growth Drivers
- Surge in demand for next-gen vehicles for improved driving experience is fueling the smart vehicle cabin market
- Rise in awareness about road safety of vehicles is augmenting market growth
Regional Landscape
North America held the leading share of the global smart vehicle cabin market in 2022. The trend is anticipated to continue during the forecast period. Growth of the market in the region can be attributed to the ongoing development of next-gen vehicles with smart cabin systems by OEMs such as Daimler AG, Tesla, and BMW AG. Furthermore, rise in ownership of advanced passenger vehicles owing to increase in purchasing power of consumers is fueling market growth in the region.
The smart vehicle cabin market in Asia Pacific is expected to expand in the next few years owing to increase in ownership of vehicles with advanced safety features.
Competitive Analysis
The global landscape is consolidated, with large number of key players controlling majority market share. These players are focusing on advanced technologies to broaden revenue streams. Expansion of product portfolio through collaborations and partnerships is a key growth strategy adopted by leading players in the smart vehicle cabin market.
Prominent players in the smart vehicle cabin market include HARMAN International, Blackberry Limited, Panasonic Corporation, Texas Instruments Incorporated, Jungo, Xperi Corporation, General Motors, Analog Devices Inc., and Smart Radar System.
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The global smart vehicle cabin market has been segmented as follows:
Smart Vehicle Cabin Market, by Application
- Cabin Conditioning
- In-cabin Monitoring
- Infotainment
- Wireless Connectivity
- Haptic HMI
- Others
Smart Vehicle Cabin Market, by Component/System
- Display
- HVAC
- Speaker
- Lighting
- Sensor
- Others
Smart Vehicle Cabin Market, by Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Commercial Vehicle
- Heavy-duty Truck
- Bus & Coach
Smart Vehicle Cabin Market, by Propulsion
- ICE Vehicle
- Gasoline Vehicle
- Diesel Vehicle
- Electric Vehicle
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Smart Vehicle Cabin Market, by Sales Channel
- OEM
- Aftermarket
Smart Vehicle Cabin Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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