Automotive Control Panel Market Size, Share and Trends 2024 to 2034

Automotive Control Panel Market Size and Forecast 2024 to 2034

The global automotive control panel market size is projected to be worth around USD 217.35 billion by 2034 from USD 118.99 billion in 2024, at a CAGR of 6.21% from 2024 to 2034. The growing development in the automotive industry has driven the growth of the automotive control panel market. Also, the rising demand for passenger cars boosts industrial growth. Additionally, the advancements in automotive technologies propel the market growth.

Automotive Control Panel Market Key Takeaways

• Asia Pacific led the automotive control panel market with the highest market share of 37% in 2023.
• North America is expected to witness moderate growth during the forecast period.
• By type, the manual control panel segment has held a major market share of 39% in 2023.
• By type, the touchscreen control panel segment is anticipated to grow at a significant growth rate during the forecast period.
• By application, the passenger cars segment contributed the largest market share of 54% in 2023.
• By application, the light commercial vehicle (LCV) segment is likely to grow significantly during the forecast period.

Asia Pacific Automotive Control Panel Market Size and Growth 2024 to 2034

The Asia Pacific automotive control panel market size was exhibited at USD 37.68 billion in 2023 and is projected to be worth around USD 74.10 billion by 2034, poised to grow at a CAGR of 6.34% from 2024 to 2034.

Asia Pacific held the dominant share of the automotive control panel market in 2023. The increasing demand for affordable cars and advancements in automotive technology drive the market growth. Also, the rising development in the automotive industry, along with several companies such as Tata, Maruti, BYD, Xiaomi, Toyota, Hyundai, Mitsubishi, and others, has contributed to market growth. The development of EV infrastructure in several countries such as India, China, Japan, South Korea, Thailand, Taiwan, and Singapore due to investments from private sector enterprises has contributed to industrial growth. Moreover, the rising preference for compact SUVs, along with the availability of automotive electronic components in China and Japan, has boosted the automotive control panel market growth.

• In November 2023, Mitsubishi launched the Minicab EV. A minicab is an electric vehicle (EV) that comes with advanced safety features along with a manual control panel for operating basic features.
• In March 2024, the government of India announced the FAME II initiative. Through this initiative, the government invested Rs 10000 crore in developing the EV charging infrastructure in India.

This region comprises several local manufacturers of automotive control panels, such as MinebeaMitsumi Inc., Hyundai Mobis Co., Ltd., Calsonic Kansei Corporation, Toyota Boshoku Corporation, and some others are continuously engaged in developing high-quality control panels and software for automotive in this region, which in turn is expected to propel the growth of the automotive control panel market.

• In June 2024, Hyundai Mobis launched M.VICS 5.0. M.VICS 5.0 is a digital cockpit framework that controls several functions, such as passenger monitoring and blind-spot warnings.

North America is expected to grow at a significant CAGR during the forecast period. The rising advancements in the automotive sector in countries such as Canada and the U.S. have contributed to the development of the automotive control panel market. Also, the rising consumer preference towards luxury cars, along with the rise in the automotive software industry, is crucial for industrial growth. There are several automotive companies, such as Tesla, Ford, GM, Rivian, Cadillac, Chevrolet, Stellantis NV, and some others, that have increased the demand for various types of automotive control panels. Also, the growing demand for SUVs for off-roading purposes, along with the increasing trend of aesthetics and modern features in vehicles, is positively impacting the market.

• In January 2024, Tesla launched the Model 3 in the U.S. and Canada. Model 3 is an EV that comes with autonomous driving level 2 along with a touch control panel for operating several applications.

• In July 2024, Ford launched a new SUV named ‘Ford Edge’ in the U.S. This is an advanced SUV that comes with a 12-inch LCD touchscreen for controlling several functions.

North America consists of various market players in automotive control panels, including Johnson Controls, Inc., Magna, Lear, and others, which are constantly developing automotive control panels and software associated with them. Also, these companies are adopting several strategies, such as partnerships, acquisitions, collaborations, launches, and business expansions, that are driving the growth of the automotive control panel market in this region.

• In March 2024, Magna announced a partnership with General Motors and Wipro. This partnership is done to develop an advanced automotive control software named ‘SDVerse’ to perform numerous applications.

Market Overview

The automotive control panel market is an important industry in the automotive sector. This industry deals with manufacturing and distributing automotive control panels for different automotive companies. This market is generally driven by the rising trend of sports cars along with the advancements in-car infotainment systems. The automotive control panel industry deals in developing different types of panels, including manual control panels, touchscreen control panels, and push-button control panels. This industry manufactures several components such as rotary switches, side mirrors, and others. These control panels find applications in vehicles such as passenger cars, heavy commercial vehicles (HCV), and light commercial vehicles (LCVs). This industry is expected to grow exponentially with the development of the automotive industry.

• According to a report published by the Indian Ministry of Heavy Industries in February 2023, India's automotive industry is expected to reach Rs 15 lakh crores in 2024.

Automotive Control Panel Market Growth Factors

• Increasing demand for fancy cars.
• Rising trend of modern aesthetics in vehicles.
• Growing sales of sunroof-enabled cars.
• The development in automotive electronics.
• Ongoing trend of heads-up-display in passenger cars.
• Proliferation of advanced software associated with vehicle safety.
• The integration of modern features in luxury cars.
• Government initiatives associated with the development of the automotive sector.
• The popularity of autonomous vehicles in developed nations.
• The versatility of control panels, including supporting features such as temperature control, tachometer, warning indicators, and others.

What is the role of AI in Automotive Control Panel Market?

The automotive industry has developed rapidly with the advancements in technologies associated with it. Automotive companies are integrating technologies such as AI, Blockchain, Big Data, Machine Learning, and others to improve the efficiency of workers and increase overall productivity. Nowadays, OEMs of automotive control panels have started using AI in their manufacturing process and have integrated AI in control panels to optimize several features of the vehicles. The integration of AI in car control panels helps detect anomalies in vehicles, enhances driving capabilities, and simplifies complex features and other functions.

• In April 2023, SoundHound AI launched Chat AI. CHAT AI is a voice assistant technology that is used for numerous automotive applications.

Top 10 Automotive Companies

• Toyota
• General Motors
• Tata Motors
• Volkswagen
• BMW
• Honda
• Hyundai Motor Company
• Mahindra & Mahindra
• Ford
• Stellantis

Market Scope

Market Dynamics

Driver

Growing trend of electric vehicles (EVs)

The EV industry is one of the fastest-growing industries in the world. The trend of EVs has grown rapidly among consumers due to rising awareness regarding environmental protection along with increased prices of fuels across the world. Also, the government of various countries such as the U.S., India, Norway, Denmark, Netherlands, and some others have increased their emphasis on the development of EV infrastructure. Moreover, several governments have started providing subsidies for transitioning towards electric vehicles. Additionally, private companies' development of EV charging infrastructure, along with advancements in electric vehicle battery technologies, is crucial for the electric vehicle industry. Thus, with the rising trend of EVs, the applications of automotive control panels are likely to increase drastically.

• In August 2024, the U.S. government announced that it would invest around US$ 52 million. This investment is made to enhance the EV charging network across 29 states by deploying 9,200 EV charging stations.
• In May 2024, the U.S. government made an announcement regarding the EV industry. Through this announcement, the government invested around US$1.3 billion in the development of EV infrastructure across the U.S.
• In April 2024, the Netherlands government made an announcement regarding EV subsidy. Through this announcement, the government stated that fully electric vehicles will be completely exempted from taxes, and plug-in hybrid vehicles (PHEV) will be getting a reduction of 50% taxes by the end of 2024.
• In January 2024, Tata announced the launch of Punch EV. Punch EV is a BEV-based compact SUV segment car with two variants of battery pack consisting of 25 kWH battery and 35 kWH battery with a claimed driving range of around 315kms and 421kms on full charge. This car comes with an AC control panel.
• In June 2022, Microchip launched LX34070 IC. LX34070 IC is an inductive position sensor that helps in controlling applications in EVs.

Restraint

Software bugs and misleading information

The automotive control panel industry experiences various problems in its daily operations. Some control panels come with numerous sensors that might lack consistency in providing information regarding the functioning of vehicles. Also, the software-related issues in control panels might lead to incorrect information that can deteriorate the overall driving experience. Thus, the lack of consistent performance and misleading information is expected to restrain the growth of the automotive control panel market during the forecast period.

Opportunity

Developments in autonomous vehicles

The automotive control panel industry has developed rapidly with the advancements in the overall automotive sector. Automotive companies such as Tesla, BMW, Waymo, Ford, General Motors (GM), Baidu, Toyota, and Volkswagen have increased their emphasis on autonomous driving technology to attract customer attraction. The demand for autonomous vehicles is expected to increase due to advancements in technologies along with enhanced road safety and environmental benefits. With the growing demand for autonomous vehicles, the application of control panels increases. Thus, development in autonomous vehicles is expected to create growth opportunities for market players in the coming days.

• In June 2024, Rimac launched Verne. Verne is an autonomous level 4 car that is designed to provide enhanced comfort and safety along with a wide 43-inch control panel system to perform various applications.

Type Insights

The manual control panel segment dominated the automotive control panel market in 2023. The application of manual control panels in affordable vehicles has increased due to their cost-effectiveness and simplicity. Also, the increased preference for traditional feeling in cars, along with the interest of people towards physical buttons, switches, knobs, and others in vehicles, has contributed to the market growth. Moreover, the rising demand for manual control panels due to less maintenance and easy functioning has gained prominent interest from the automotive industry.

• In July 2024, Maruti launched Ignis Radiance Edition. This car comes with a dual-tone dashboard along with a manual control panel for AC controls and an infotainment system.

The touchscreen control panel segment is anticipated to grow at a significant rate during the forecast period. The growing demand for aesthetic looks and modern features in vehicles has increased the application of touch control panels. Also, the rising consumer preference for luxury features in vehicles has increased the demand for touch control panels. Moreover, the increasing use of touch control panels in sports cars to operate FATC-HVAC systems and other functions is expected to proliferate the automotive control panel market development.

• In May 2024, Mercedes-Benz launched A-Class Limousine & A45 AMG facelifts. These cars come with various advanced features that are operated using the touch control panel.

Application Insights

The passenger cars segment held the dominant share of the automotive control panel market in 2023. This segment is generally driven by the rising preference for sedans among enthusiast drivers, along with the growing integration of modern features in vehicles. Nowadays, high-end SUVs are integrated with touchscreen control panels to operate numerous features on a single screen, which is an important contributor to the automotive control panel market growth. The increasing trend of electric vehicles has further increased the demand for several types of control panels for controlling functions such as AC control, range detection, performance monitoring, operating lights, and some other features. Moreover, the integration of advanced driver assistance systems (ADAS) in modern vehicles has increased the applications of control panels for assisting in collision avoidance, adaptive cruise control, lane departure warning, satellite navigation, and some other functions.

• In January 2024, Rolls-Royce launched Spectre. Spectre is an electric luxury sedan that comes with multiple domain control systems for operating different functions.
• In May 2024, Jeep launched Wagoneer S. Wagoneer S is a battery-electric vehicle (BEV)-based SUV that comes with a 45-45-inch touch control panel to operate ADAS features and range detection.
• In June 2022, Valeo collaborated with BMW. This collaboration is aimed at developing an ADAS domain controller based on Qualcomm Snapdragon SoCs.

The light commercial vehicle (LCV) segment is expected to grow at a significant growth rate in the automotive control panel market during the forecast period. The rising demand for light commercial vehicles (LCV) due to the rise in logistics operations has increased in recent times. Also, the application of manual control panels in light commercial vehicles has increased for operating several features, such as light control and lifting carriage space. Moreover, the growing use of manual control panels in LCVs for cost cuttings and less maintenance has contributed to the market growth of automotive control panels.

• In February 2024, Eicher launched the EV-First Eicher Truck. This is a small commercial vehicle (SCV) that comes with a manual control panel for controlling basic features such as light controlling and other features.

Automotive Control Panel Market Companies

• Continental AG
• MinebeaMitsumi Inc.
• GX Group Limited
• ZF Friedrichshafen AG
• Faurecia Clarion
• Valeo S.A.
• Assembly Solutions Ltd
• SIC Ltd
• BCS Automotive Interface Solutions
• Toyota Motor Sales, U.S.A.

Segments Covered in the Report

By Type

• Manual Control Panel
• Touch Screen Control Panel
• Push Button Control Panel

By Application

• Passenger Cars
• Heavy Commercial Vehicle (HCV)
• Light Commercial Vehicle (LCV)

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa