Press release
Automotive Instrument Cluster Market Key Players, End User Demand and Analysis Growth Trends by 2032
Automotive Instrument Cluster Market
The Global Automotive Instrument Cluster Market size was valued at USD 10.8 Billion in 2021 and is projected to grow at a CAGR of 3.6% during the forecast period.
The demand for high-end passenger vehicles and the expansion of the automotive industries in China, Germany, the United States, and Japan are what are driving the market for automotive instrument clusters. Additionally, increased infotainment systems and increased car production and sales throughout the globe stimulate market expansion. The market's expansion is hampered by the fluctuation in the price of raw materials including chips, ICs, and displays as well as the greater cost of the digital instrument cluster.
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The introduction of an automobile instrument cluster with a new and advanced screen and biometric features, which are anticipated to provide a number of prospects for market development, are examples of technology improvements that may be used to overcome these restrictions. In addition, automakers could benefit from the rising demand for luxury automobiles, notably in North America and Europe.
Type, vehicle type, and geography are the key segments used to divide the automotive instrument cluster market. It is separated into clusters of analogue, digital, and hybrid instruments based on type. It is divided into three categories based on the kind of vehicle: two-wheelers, passenger automobiles, and commercial vehicles. The market is examined geographically throughout North America, Europe, Asia-Pacific, and LAMEA. Continental AG, Robert Bosch GmbH, Denso, Visteon Corporation, Alpine electronics, Inc., Delphi Automotive LLP, Innolux Corporation, Japan display Inc., Luxoft, and Mitsubishi Electric are notable companies that sell instrument clusters for automobiles.
Market Segmentation:
Type: The market can be segmented into analog instrument clusters and digital instrument clusters. Digital instrument clusters are further divided into fully digital instrument clusters and hybrid instrument clusters.
Vehicle Type: The market can be segmented into passenger vehicles and commercial vehicles. Commercial vehicles include trucks, buses, and other heavy vehicles.
Technology: The market can be segmented into LCD, TFT-LCD, and OLED technology. LCD and TFT-LCD displays are commonly used in analog and hybrid instrument clusters, while OLED displays are used in fully digital instrument clusters.
Application: The market can be segmented based on the application, such as speedometer, tachometer, odometer, fuel gauge, and others.
Sales Channel: The market can be segmented into OEMs and aftermarket.
Region: The market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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Competitive Landscape:
The global automotive instrument cluster market is highly competitive, with a large number of players operating in the market.
Some of the key players in the market include:
Continental AG
Visteon Corporation
Denso Corporation
Nippon Seiki Co., Ltd.
Yazaki Corporation
Magneti Marelli S.p.A.
Delphi Automotive LLP
Bosch Limited
Calsonic Kansei Corporation
Mitsubishi Electric Corporation
These players are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. For instance, in 2019, Denso Corporation partnered with Qualcomm Technologies, Inc. to develop an automotive cockpit platform for advanced driver assistance systems and connected vehicles. Similarly, in 2018, Visteon Corporation acquired AllGo Embedded Systems, a provider of software solutions for infotainment and connected car technologies, to expand its product portfolio.
Other notable players in the market include Japan Display Inc., Aptiv PLC, IAC Group, Luxoft Holding, Inc., and Pioneer Corporation. These players are investing in research and development to offer advanced instrument clusters that meet the evolving needs of the automotive industry.
Overall, the global automotive instrument cluster market is characterized by intense competition, and players are adopting various strategies to gain a competitive edge. The market is expected to continue to witness consolidation through mergers and acquisitions, with players focusing on expanding their product portfolios and global presence.
Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Automotive Instrument Cluster market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Automotive Instrument Cluster would help in identifying future applications in this market.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Objectives of the Study:
• To provide with an exhaustive analysis on the Automotive Instrument Cluster Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
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Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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