Market Analysis
The automotive digital instrument cluster market is projected to develop at a 20% CAGR between 2017- 2023, states the new Market Research Future (MRFR) analysis. Automotive instrument cluster, simply put, are devices which display critical information about the condition of a car.
Various factors are fueling the demand for the automotive digital instrument cluster market. Such factors, as revealed by the new MRFR analysis, include rising sales of premium cars, development of superior graphic display, growing penetration of in-vehicle safety features, the rapid development of automobile industry, increasing integration of digitized components in vehicles, falling digital system and electronics manufacturing costs, constant technological advances in automotive technologies, changing consumer lifestyle, and growing trend of the digitized and hybrid cluster.
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On the contrary, a sharp decline in automobile production & sales, high product cost, the threat of cyber-attacks from external sources, and the on-going COVID-19 outbreak may limit the global automotive digital instrument cluster market over the forecast period.
Key Players
Key contenders profiled in the global automotive digital instrument cluster market report include Nippon Seiki Company Ltd. (Japan), ID4Motion (Netherlands), Yazaki Corporation (Japan), Luxoft (Switzerland), Mitsubishi Electric Corporation (Japan), Alpine Electronics, Inc.(Japan), Sharp Corporation (Japan), Denso Corporation (Japan), Magneti Marelli S.p.A. (Italy), Delphi Technologies (U.K.), Panasonic (Japan), IAC Group (Luxembourg), Visteon Corporation (U.S.), Nippon Seiki (Japan), Robert Bosch GmbH (Germany), Nvidia Corporation (U.S.), and Continental AG (Germany).
Market Segmentation
The global automotive digital instrument cluster market has been bifurcated on the basis of type of fuel used for car, display size, vehicle type, and display type.
By type of fuel used for car, the automotive digital instrument cluster market is segmented into HEV, PHEV, BEV, diesel, and petrol.
By display size, the automotive digital instrument cluster market is segmented into greater than 12 inch, 9-11 inch, and 5-8 inch. Of these, the 9–11-inch display size segment will dominate the market over the forecast period.
By vehicle type, the automotive digital instrument cluster market is segmented into the commercial vehicle and passenger vehicle. Of these, passenger vehicle type will have a major share in the market over the forecast period.
By display type, the automotive digital instrument cluster market is segmented into TFT-LCD, LCD, and OLED. Of these, the TFT-LCD display type will command the largest share in the market over the forecast period.
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Regional Analysis
By region, the global automotive digital instrument cluster market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, North America will have the lions share in the market over the forecast period. Preference for personal cars over public transport, comfortable riding experience, and growing demand in Canada and the US, are adding to the global automotive digital instrument cluster market growth in the region.
The automotive digital instrument cluster market in Europe is predicted to hold the second-largest share over the forecast period. The penchant for high technology that is high powered, demand for cars that are equipped with automation and latest electronics, increasing sales of electric and premium cars, increasing production of high-end and luxury cars, and the presence of top OEMs are adding to the global automotive digital instrument cluster market growth in the region.
The automotive digital instrument cluster market in the APAC region is predicted to grow at a fast pace over the forecast period. Japan being the traditional automotive hub, the presence of growing economies like China & India, and preference for high performance, low-cost small cars are adding to the global automotive digital instrument cluster market growth in the region.
The automotive digital instrument cluster market in the RoW is predicted to have sound growth over the forecast period.
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