Europe Overhead Console Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application and Vehicle Type

Europe Overhead Console Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application and Vehicle Type

  • July 2021 •
  • 105 pages •
  • Report ID: 6134302 •
  • Format: PDF
The overhead console market in Europe is expected to grow from US$ 2,645.94 million in 2021 to US$ 3,955.19 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028.

The integration of advanced technologies, such as artificial intelligence (AI), is gaining popularity worldwide.AI has its applications in the automotive industry, such as in advanced driver-assistance systems (ADAS) that reacts faster than a human driver.

It demands embedded vision to offer real-time analysis of the streaming video, which are visible to the driver through overhead consoles.The integration of AI with the overhead consoles delivers driver-assist and fully autonomous mode functionality to the users.

Further, the application of AI cloud platforms enhances the data accessibility whenever required.The advance technology constantly monitors several sensors and detects issues even before they affect the vehicle operation and are displayed in overhead consoles to the drivers.

The integration of AI also helps for Blind Spot Detection (AI BSD), by efficiently scanning the blind spots of the vehicle and display alerts to the driver in the overhead consoles when action is required.

The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation.However, Western European countries such as Germany, France, and the UK have seen a comparatively modest growth in industrial activities due of the strong healthcare system.

To protect its citizens from the COVID-19 virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the COVID-19.

The overhead console market is segmented into application and vehicle type.Based on vehicle type, the market is segmented into passenger vehicle and commercial vehicle.

In 2020, the passenger vehicle segment held the largest share of Europe overhead console market.Passenger vehicles are the transport vehicles integrated with not more than eight seats.

These vehicles include hatchback, sedan, and SUV or MUV.There is rising demand for passenger vehicles owing to the increase in per capita income and need for luxury.

The integration of overhead consoles is linked to the vehicle control unit, which provides safety, comfort, convenience, and the ability to implement innovative driver assistance systems such as parking and navigation assistance. Moreover, growing demand of attractive interior inside the passenger cars and premium cars with the integration of connected vehicle technology is boosting the growth of the overhead console market. Further, the manufacturers such as Flex Ltd., Gentex Corporation, and Magna International Inc. are engaged in manufacturing overhead consoles for passenger cars segment.

The overall Europe overhead console market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe overhead console market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe overhead console market. Flex Ltd.; Grupo Antolin; Hella GmbH & Co. KGAA; Magna International Inc.; Yanfeng Automotive Interiors; Gentex Corporation; and Daimay Automotive Interior Co., Ltd. are among a few players operating in the Europe overhead console market.
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