Automotive Digital Instrument Cluster Market Overview and Competitive Landscape

Posted by Rahul Gautam on April 28th, 2021

As the number of road accidents are increasing rapidly across the globe, the need for making vehicles safer is growing as well. For safe driving, the attention of the driver needs to be on the road at all times; however, the driver also needs to pay attention to other things in the vehicle for driving effectively, among which is the instrument cluster. In order to make things easier, automobile manufacturers are now integrating automotive digital clusters in vehicles instead of traditional instrument cluster, which replace mechanical hardware with virtual options that are drawn on a liquid crystal display.

Owing to this, the global automotive digital cluster market is projected to advance at a significant pace in the coming years. The growing sales of premium cars is one of the key factors leading to the increasing demand for digital clusters, since this technology is majorly being integrated in high-end vehicles. The adoption of premium vehicles has been growing due to the increasing disposable income of people across the globe. The sales of Mercedes-Benz model cars grew to 2.29 million and the sales of BMW cars rose by 4.2% in 2017. Since the competition between such companies is increasing, they are becoming more inclined to provide customers with advanced and better solutions.

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Because of this, innovative human-machine interface features and products are being integrated in car cabins, thereby resulting in the growing use of digital instrument clusters in vehicles. In addition to this, as technological advancements are being made in the domain, it is predicted that this technology will also start catering to low and middle-end vehicles in the years to come. Owing to this, the global automotive digital instrument cluster market is expected to generate a revenue of over .6 billion in 2023, rising from .0 billion in 2017, progressing at a 21.8% CAGR during the forecast period (2018–2023).

On the basis of display type, the market is divided into thin-film transistor LCD (TFT–LCD), organic light emitting diode (OLED), and LCD, among which, the TFT-LCD division contributed about 60% revenue share to the market in 2017. This can be ascribed to the surging requirement for high contrast displays across the globe. In terms of technology, the market is categorized into artificial intelligence (AI) and non-AI, between which, the AI category held the larger share of the market in 2017.

This is due to the surging penetration of AI-based technologies and features in premium cars, including smart parking and heads-up displays. Geographically, the European regions dominated the automotive digital instrument cluster market in 2017. The sales of these products is primarily dependent on the sales of premium vehicles and since, the sales of such cars is high in Europe, the demand for digital instrument clusters in high as well. Other than this, the demand for this technology is also predicted to increase in Asia-Pacific in the near future due to the increasing adoption of electric vehicles.

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Hence, the demand for automotive digital instrument clusters is growing due to the need for making vehicles safer and because of the increasing sales of premium cars.