Press release
Automotive Digital Instrument Cluster Market is Expected to Witness a CAGR of 21.8% During the Forecast Period, 2013–2023
The market growth is mainly driven by increasing sales of premium and electric cars. In addition, the growing penetration of in-vehicle safety features is expected to boost the market growth during the forecast period.
Industry trends indicate that by 2030, majority of the cars will have vehicle-to-infrastructure connectivity and vehicle-to-vehicle connectivity that will ensure better road and passenger safety. Digital instrument cluster improves safety by reducing distraction while driving, and displays safety-critical driver information centrally in the driver’s primary viewing range.
On the basis of display size, the market is segmented into 5-8 inch, 9-11 inch, and more than 12 inch categories. The screen size between 9-11 inches has been leading the automotive digital instrument cluster market in terms of share; however, more than 12 inch displays are expected to be the fastest growing category during the forecast period.
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On the basis of car, the automotive digital instrument cluster market has been categorized into conventional and electric. The conventional car category (that uses only ICE engine) has been accounting for a larger share in the digital instrument cluster market, mainly due to greater sales of these cars than electric cars. However, the penetration of digital instrument clusters in electric car will increase at a faster during the forecast period, due to the growing government support for these cars. Apart from this, when compared to conventional cars, electric cars have more digital information to be displayed, such as electric charge and estimated miles, which makes digital instrument cluster more viable for these cars.
On the basis of technology, the automotive digital instrument cluster market has been categorized into AI based and non-AI based instrument clusters. AI based digital instrument clusters have been accounting for higher sales till now, due to growing penetration of AI based features in premium cares, such as head-up displays and smart parking.
Browse report overview with 153 tables and 60 figures spread through 183 pages and detailed TOC on "Automotive Digital Instrument Cluster Market by Display Type (TFT-LCD, LCD, OLED), by Display Size (5-8 inch, 9-11 inch, >12 inch), by Car (Conventional, Electric [HEV, BEV, PHEV]), by Car Price (Premium, Medium), by Technology (AI, Non-AI), by Geography (U.S., Canada, China, Japan, South Korea, India, Germany, U.K., Italy, France, Russia, Brazil) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/automotive-digital-instrument-cluster-market
Globally, Europe has been sealing the largest share in the market, with an estimated revenue contribution of more than 40.0% in 2017. The sales of these instrument clusters are dependent on the sales of premium and electric cars, as these cars are generally installed with digital instrument clusters. Europe accounts for the largest share of premium car sales in the world, which only reinforces the high sales of automotive digital instrument clusters in the region.
The share of Asia-Pacific in the global digital instrument cluster sales has been low till now, as the number of premium cars sold in the region is still less compared to Europe and North America. However, the region is the largest electric car market in the world, which is projected to benefit the sales of digital instrument clusters in the region, in the coming years.
Some of the other major players in the automotive digital instrument cluster market include Magneti Marelli S.p.A, Robert Bosch GmbH, Delphi Automotive PLC, DENSO Corporation, Yazaki Corporation, Nippon Seiki Co. Ltd., NVIDIA Corporation, Panasonic Corporation, and Intel Corporation.
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