Global Automotive Instrument Cluster Market was valued US$ XX Bn. in 2019 and is expected to grow US$ 12.45 Bn. by 2027, at a CAGR of XX% during the forecast period.
Global Automotive Instrument Cluster Market
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Automotive instrument cluster that display critical information about the condition of a vehicle. This includes but not limited to fuel indication, oil indication, several warning limit indicators, speed, and mileage among others. An automotive instrument cluster includes the speedometer, fuel gauge, illumination & warning indicators, pointers, screen, sensors, and electronic control unit (ECU). From now, instrument clusters are coming up with 2D and 3D graphics to display more complex data in a better way. Also, in the early stage of automotive industry, mechanical or analog instrument cluster were used, though, because of constant innovation in automotive industry nowadays, hybrid and digital cluster have greater penetration.
Growth in the automotive industry in China, Germany, the U.S., and Japan, and the demand for high-end passenger cars have been driving the automotive instrument cluster market. Also, the rise in production & sales of vehicles worldwide and an increase in the infotainment system boost the growth of the automotive instrument cluster market. Rising trend of digitalized and hybrid cluster play prominent part in boosting up the demand of automotive instrument cluster market. Luxurious car makers, like Aston Martin, Audi, Buick Limited, Ferrari and others have launched vehicles with digitalized clusters, now these clusters are an integral part of luxury vehicles. With an advent of fully digital displays, dashboards have reached a new level by being able to take into consideration the driving situation and by improving the user experience. These factors hike the demand for the automotive instrument cluster.
However, some of the restraints related to the automotive instrument cluster market are high cost of the product, because of the shift of analog to digital consoles observed in the market. High costs related to the internal components, such as integrated circuits, power systems, and others contribute heavily to its cost thereby limiting the market to its fullest potential. As well, the challenges associated with the automotive instrument cluster market also contain the threat of cyber-attacks from external sources which can cause loss of control of the vehicle, due to the digitization of such systems. These limitations can be overcome by technological advancements, like the launch of an automotive instrument cluster with new & advanced screen, and biometric features which are expected to present many opportunities for market growth. Furthermore, the demand for luxury vehicles, mainly in North America and Europe, is expected to offer opportunities for manufacturers.
According to the product type, the hybrid segment is expected to account for the highest growth rate of XX% in the global automotive instrument cluster market, because of hybrid technology covers information in both analog and digital technology form. Increasing investments in the development of 3D graphics technology are also expected to boost the growth of the hybrid segment over the forecast period.
Based on the vehicle type, the passenger car segment is expected to hold the largest market share of the global automotive instrument cluster market, thanks to the increasing adoption of the advanced technology-based automotive instrument cluster in a luxury passenger car, with the moderate price including several new functionalities, like song selection option, navigation, and video display.
Region-wise, North America held the largest market share of the global market, on account of increasing adoption of the new advanced automotive instrument cluster in countries in the region. Europe is also accounting for the second-largest share in the global automotive instrument cluster market.
Furthermore, the Asia Pacific automotive instrument cluster market is expected to grow at a worthwhile rate in terms of revenue over the forecast period, because of demand for vehicles and increasing the production of the vehicle in countries, such as China, Japan, Korea, and India in the region.
The objective of the report is to present a comprehensive analysis of the Global Automotive Instrument Cluster Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Instrument Cluster Market dynamics, structure by analyzing the market segments and project the Global Automotive Instrument Cluster Market size. Clear representation of competitive analysis of key players by application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Instrument Cluster Market make the report investor’s guide.
Scope of the Global Automotive Instrument Cluster Market
Global Automotive Instrument Cluster Market, By Product Type
• Hybrid (2D and 3D)
Global Automotive Instrument Cluster Market, By Type of Instrument Cluster
• Fully reconfigurable instrument cluster
• Partially reconfigurable instrument cluster
Global Automotive Instrument Cluster Market, By Application
Global Automotive Instrument Cluster Market, By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)
• Special Purpose Vehicles
Global Automotive Instrument Cluster Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Automotive Instrument Cluster Market
• Continental AG
• YAZAKI Corporation
• Calsonic Kansei Corporation
• IAC Group
• NVIDIA Corporation
• Robert Bosch GmbH
• DENSO Corporation
• Delphi Automotive LLP
• Visteon Corporation
• Magneti Marelli S.p.A.
• HARMAN International
• Kyocera International, Inc.
• MTA S.p.A.
• Nippon Seiki Co., Ltd.
• Stoneridge Inc.
• Pricol Ltd.
• Simco, Ltd.
• Alpine electronics, Inc.
• Innolux Corporation
• Japan display Inc.
• Mitsubishi Electric
• Mentor Graphics
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