Press release
Automotive Instrument Cluster Market Estimated to Lock an Ineffaceable Growth | 10.56% CAGR Through 2023
Automotive Instrument Cluster Market 2018
Automotive Instrument Cluster Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Instrument Cluster Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023
Automotive Instrument Cluster Market Information Report by Technology Type (Analog, Digital, and Hybrid), Vehicle Type (passenger car and commercial vehicle), and region.
Market Scenario
Automotive instrument cluster is a set of instruments that consists of a speedometer and infotainment display. The display can be both, digital and analog. The instrument panel also displays the speed of the vehicle, the amount of fuel available, and traffic condition with the help of navigation system. It ensures that driving is equally safe and comfortable because it presents the information in a clear way at a given point of time. In the current automotive industry, various technologies have evolved to provide better display information for the driver such as HMI concept. The instrument panel consists of software powered display panel for conveying information. There are three types of instrument panel and they are analog, digital, and hybrid. In an analog type of instrument cluster, there are two large dials for the speedometer, and a gauge for the fuel level indicator. The hybrid instrument cluster is the combination of analog and digital display system for showcasing the information in both forms. Digital instrument panels are the ones, which display all the information in digital form mostly on LCD or TFT display. In the technology driven era, the hybrid form is most likely to boost the market.
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Key Players
The key players in automotive Instrument cluster market are Continental AG (Germany), Mentor Graphics (U.S), Visteon (U.S), Delphi (U.S), Qualcomm (U.S), Bosch (Germany), Denso (Japan), Alpine Electronics (Japan), Japan Display Inc. (Japan) and Innolux (Taiwan).
Automotive Instrument Cluster Market – Segmentation
The global automotive instrument cluster market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology Type : Comprises Analog, Digital and Hybrid.
Segmentation by Vehicle Type : Comprises Passenger Car and Commercial Vehicle.
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
The factors that are responsible for the growth of automotive instrument cluster are development in the technology, rising demand for electronic driven instrument panels, growing demand for advanced driver assistance system (ADAS) in high end cars, increase demand for electric vehicles, and others. Nowadays, there has been rising demand for the OEM manufacturers to develop products that are different than that of their competitors. The demand from the customers for high quality instrument panels have increased the demand for innovative display system to be installed in the vehicle. This increase in demand for the innovative display systems, will lead to the growth of instrument cluster market in future. The rising demand for electronic instrument cluster with 2D and 3D graphics system have increased the demand for the instrument clusters. In the technology driven world, there is increase in the demand for instrument clusters that can be integrated with the smartphones. OEMs are trying to integrate the instrument cluster with the smartphone devices so as to make a personalize instrument cluster for the customers. This growing demand for the personalize instrument cluster will result in the growth of the market during the forecast period.
Automotive Instrument Cluster market is segmented based on technology type, vehicle type, and region. On the basis of technology type, the market has been segmented as analog, digital, and hybrid. The hybrid instrument cluster segment is expected to dominate the market during the forecast period, due to the ability to integrate the system with both, digital and analog form. This type of instrument cluster displays the information in analog and digital form, due to which there has been an increase in demand for this type of technology. The segment is expected to grow in the near future due to the presence of analog and digital system, low cost for the system, higher use of electronic devices in the vehicle. In the past years, it has been seen that the share of analog system, has been more than the digital form. But the changing technology, and higher demand for the luxury vehicles will increase the demand for hybrid clusters in vehicle. This increase in demand will lead to the growth of the market in the future.
On the basis of region, the market has been segmented based on North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the automotive instrument cluster market during the forecast period due to the growing demand of vehicle in emerging countries such as India, China, and Japan. The increase in the production of the vehicle in Asia Pacific, is directly linked with the instrument cluster. The rising production of vehicle will result in the increase in use of instrument clusters. This will drive the market in future. Asia Pacific is witnessing an increase in the share of global vehicle sales, and is expected to see continued growth in the coming years. The developing countries are making efforts to develop innovative policies and trade liberalization programs to step up with innovative technologies. The increase in government efforts in the automotive industry, will drive the growth of the instrument cluster market in the future. North America is expected to be the second largest market in the automotive instrument cluster market. In North America, U.S. is expected to hold the largest share in the future. Europe is the third largest market in automotive cluster market due to stagnant growth in the automotive industry,
Industry/ Innovation/ Related News:
March, 2018 - Germany’s Continental AG has decided to form a joint venture with China’s CITC Ltd to manufacture mild hybrid batteries which aid the functioning of the petrol powered internal combustion engine without the need to invest a lot. The new venture, in which Continental holds 60 percent and the rest owned by Sichuan Chengfei Integration Technology (CITC), will first produce 48-volt battery at its headquarters in near Shanghai, to target a second opening of the business venture in Europe sometime next year.
March, 2018 – German automotive components supplier Bosch launched a 48-volt battery project in China. The 48-volt batteries are expected to be used extensively in both all types of vehicles (electricity and fuel powered), according to the news provided by Bosch Automotive Systems (Wuxi) Co., Ltd., which is the subsidiary company Bosch set up in order to run the project in 2015.
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Table of Content
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Automotive Instrument Cluster Market, By Technology Type
6 Global Automotive Instrument Cluster Market, By Vehicle Type
7 Global Automotive Instrument Cluster Market, By Region
8 Competitive Landscape
9 Company Profile
Continued…….
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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