Automotive Instrument Cluster Market 2019 World Analysis and Forecast To 2023
Posted by Rishikesh Kurane on September 21st, 2019
The automotive instrument cluster is a set of instruments that comprises of a speedometer and infotainment display. The display can be digital and analog. The instrument panel also exhibits the speed of the vehicle, the amount of fuel available, and traffic condition with the help of the navigation system. It warrants that driving can be equally safe and comfortable because it distinctly presents data at any given point of time. In the present automotive industry, numerous technologies have evolved to provide better display information for the driver such as HMI concept. The instrument panel consists of the software-powered display panel for the transmission of data. There are three types of instrument panels - analog, digital, and hybrid. In an analog category of the instrument cluster, there are two big dials for the speedometer and a meter for the fuel level indicator. The hybrid instrument cluster is the blend of analog and digital display system for showcasing the information in both forms. Digital instrument panels display all the data in the digital form mostly on LCD or TFT display. In today’s technology-driven age, the hybrid form is estimated to create comparatively higher market growth over the forecast period. According to Market Research Future (MRFR) studies, the global automotive instrument cluster market is expected to show significant market growth at an impressive CAGR over the forecast period.
The factors that are likely to influence the growth of the automotive instrument cluster market are advancements in technology, the rising demand for electronically driven instrument panels, the growing popularity of advanced driver assistance system (ADAS) in high-end cars among consumers, the increasing demand for electric vehicles, and others. There has also been a rising competition between OEM manufacturers driving them to create innovative and unique products. The demand from the customers for high-quality instrument panels have increased the demand for the advanced display system installation in vehicles. This rise in demand for the innovative display systems is likely to lead the growth of instrument cluster market in the near future. The increasing demand for electronic instrument cluster with 2D and 3D graphics system has increased the demand for the instrument clusters. In the technology-driven world, there is an increase in the demand for instrument clusters that can be operated with smartphones. OEMs are trying to connect the instrument cluster with smartphone devices to make a personalized instrument cluster for customers. The growing demand for the personalized instrument cluster is likely to result in market growth during the forecast period.
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Automotive instrument cluster market has been segmented based on technology type, vehicle type, and region. Based on technology type, the market is segmented into analog, digital, and hybrid. Based on vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By region, the global automotive instrument cluster market is segmented into North America, Europe, Asia Pacific and the rest of the world (RoW).
The hybrid instrument cluster section is projected to dominate the market during the forecast period. The sector is likely to grow due to the presence of analog and digital system, low cost for the system, and higher use of electronic devices in the vehicle. In the past years, it has been observed that the market share of the analog system, has been comparatively higher than the digital form. However, the changing technology and higher demand for luxury automobiles are likely to increase the demand for hybrid instrument clusters in the vehicles. This increase in demand is expect
the Asia Pacific region is expected to dominate the global automotive instrument cluster market during the forecast period due to the growing demand for automobiles in developing countries such as India, China, and Japan. The increase in the production of automobiles in the Asia Pacific is directly associated with the instrument cluster, subsequently creating significant market growth. The Asia Pacific has observed an increase in the market share of global vehicle sales and is likely to view continued growth over the forecast period, which is likely to influence the demand for automotive instrument clusters. The developing nations in APAC are making substantial efforts to introduce advanced policies and trade liberalization agendas to grow their regional market and create innovative technologies. The rise in government endeavors in the automotive industry is expected to influence the growth of the instrument cluster market in APAC over the forecast period.
North America is predicted to be the second largest market in the automotive instrument cluster market. In North America, the U.S. is expected to hold the largest share in the future.
Europe has the third largest regional market share in the automotive cluster market due to stagnant growth in the automotive trade.
The important market players in automotive Instrument cluster market are Mentor Graphics (U.S), Delphi (U.S), Visteon (U.S), Qualcomm (U.S), Bosch (Germany), Continental AG (Germany), Denso (Japan), Japan Display Inc. (Japan), Alpine Electronics (Japan), and Innolux (Taiwan).
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Table of Contents
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Instrument Cluster Market, By Technology Type
6 Global Instrument Cluster Market, By Vehicle Type
7 Global Instrument Cluster Market, By Region
8 Competitive Landscape
9 Company Profile
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About the AuthorRishikesh Kurane
Joined: May 4th, 2018
Articles Posted: 1,128
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