Automotive center stack refers to controls and buttons placed beside a driver in front of a vehicle. Air conditioning buttons, parking lights, audio-video systems, and temperature displays are part of the center stack in a vehicle. A center stack serves as a functional and aesthetic feature in a vehicle. Controls and buttons help drivers to control various things within a vehicle. Advancement of automotive electronics has brought a transition in the automotive center stack market. Automobiles are equipped with center stack systems on the dashboard of that involves control systems, such as audio and music system and temperature display, and supports reverse rear-view camera system.
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COVID-19 scenario analysis:
- The COVID-19 pandemic has had a swift and severe impact on the globally integrated automotive industry placing intense pressure on an industry already coping with a downshift in global demand, and likely leading to increased merger & acquisition activity.
- A prolonged truncation of consumer demand as countries work through various lockdown scenarios may spark a global recession, leading to widespread loss of consumer confidence, significantly impacting automaker revenues and profitability.
- Auto companies may be forced to divert capital to shore up continuing operations, starving R&D funding for advanced technology initiatives and other discretionary projects
- Strategic decisions to exit unprofitable global markets and vehicle segments may be accelerated, significantly lowering output as manufacturing capacity is rationalized/consolidated,
- Suppliers facing liquidity issues may succumb to rapidly deteriorating market conditions, causing widespread disruption and potentially catastrophic consequences across the entire global automotive manufacturing ecosystem.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Growth in the automotive sector, rise in investments in center stack manufacturing companies, and advancements in technologies are expected to offer lucrative opportunities for the market in the forecast period. However, cost of equipping a vehicle with center stack display solutions is anticipated to hamper growth of the market.
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Increase in research & development for automobiles
The automotive center stack market has a lot of scope in the research & development department and is coming up with new ideas and innovations. Some key market players, such as Google and Apple are trying to develop driverless cars in which center stack system can be controlled with voice and gesture controls in the future so that comfort is increased to a much higher level. In addition, presently, finding correct directions while driving is much easier with a voice guiding through car speakers. Moreover, rise in standard of living, with high comfort levels, has brought the automotive center stack market in great demand, and this market is expected to grow even more rapidly in the future.
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Key benefits of the report:
- This study presents analytical depiction of the center stack display market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the center stack display market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the center stack display market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed center stack display market analysis based on competitive intensity and how the competition will take shape in the coming years.
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