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Automotive Digital Instrument Cluster Market Being Driven by Rising Sales of Premium Cars

01-14-2020 01:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Automotive Digital Instrument Cluster Market Being Driven

The global automotive digital instrument cluster market is estimated to witness significant growth during the forecast period, driven by the increasing sales of premium cars, according to a research published by P&S Intelligence. The growth in sales of electric cars will also be benefitting the sales of digital instrument clusters. 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.

In response to changing environment, automakers are adopting superior graphic displays in digital instrument clusters for enhanced user experience. As part of the evolution, advanced 3D graphic digital instrument clusters are gaining traction in the market. The 3D graphic display enhances the display look and dashboard with better and clearer visibility of features. Advancements in size and resolution of automotive LCDs and LEDs, along with fall in prices, is expected to increase the demand for 3D clusters to meet the growing need for clearer and highly visible design on a large screen. Thus, the demand for superior graphic display is one of the key trends witnessed in the automotive digital instrument cluster market.

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The demand for electric vehicles and concept cars is expected to be strong during the forecast period. The sales of such cars are a forward step toward a more sustainable conveyance system. With the rising focus on energy conservation, increasing fossil fuel prices, and growing focus toward cleaner and greener environment, the demand for electric vehicles is expected to increase significantly in the medium term. Electric vehicles are technologically more advanced than conventional fuel vehicles.

In electric vehicles, more display content is needed than conventional fuel vehicles. Hence, premium electric vehicles such as HEVs and PHEVs, are more likely to be equipped with digital instrument clusters. As such cars are run on electricity, they need to demonstrate important energy related information such as information on battery charge, the amount of electricity stored, expected mileage on current charge and other driver information, that can be easily displayed using digital instrument clusters in electric vehicles. The integration of digital instrument clusters in electric vehicles helps in this regard by displaying the needed information, thus benefiting the market growth. Leading electric vehicle manufacturers such as General Motors, BYD Co Ltd (BYD), Nissan Motor Company Ltd. (Nissan), Geely Automobile Holdings Ltd (Geely), and Tesla are launching BEVs and PHEVs equipped with digital instrument cluster.

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Some of the other major players in the automotive digital instrument cluster market are Robert Bosch GmbH, Magneti Marelli S.p.A, DENSO Corporation, Delphi Automotive PLC, Nippon Seiki Co. Ltd. and Delphi Automotive PLC among others.

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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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