Press release
Automatic Instrument Cluster Market: Current trends, Opportunities, Challenges and Forecast by 2025
Automatic Instrument Cluster Market, Automatic Instrument Cluster Market share
Rising demand by OEMs to present their customers with high quality instrument cluster to differentiate their products is expected to increase the demand for instrument clusters. Similarly, rising demand by OEMs to replace electromechanical instrumental clusters by electronic instrument clusters with 2D and 3D graphics are increasing the demand for instrument clusters. The number of smartphone and tablet PC users are increasing day by day with increasing population across the world. OEMs are trying to integrate these electronic devices with instrument clusters to make automotive instrument clusters more personalized.
This is anticipated to further increase the demand for high quality automotive instrument clusters. Moreover, rising demand for automobiles across the world is estimated to increase the demand for automotive instrument clusters. Digital automotive instrument clusters are made of liquid crystal display and thin-film-transistors. Decreasing price of liquid crystal display and thin-film-transistors is projected to lower the cost of automotive instrument clusters and increase the demand for high quality digital or hybrid instrument cluster.
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The major restraint faced by automotive instrument cluster market is the increasing cost of implementing these high quality personalized automotive instrument cluster. Rising demand for advanced driver assistance system (ADAS), electric vehicles, hybrid electric vehicles and autonomous driving (AD) which would require sophisticated instrument cluster are anticipated to create a significant opportunity for automotive instrument cluster market.
In terms of technology the market can be segmented into analogue, digital, and hybrid (2D and 3D) instrument clusters. In terms of type of instrument cluster the market can be segmented into fully reconfigurable instrument cluster and partially reconfigurable instrument cluster. In terms of vehicle type the market can be segmented into light commercial vehicles, heavy commercial vehicles, passenger vehicles and two wheelers. Though the share of analogue automotive instrument cluster is more than its digital counterpart. The share of electronic instrument clusters are on the rise. The share of partial reconfigurable instrument cluster market is more than the share of fully reconfigurable instrument cluster market.
In terms of geography the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is a prominent automotive instrument cluster market. China is the dominant automotive instrument cluster market in Asia Pacific. North America is the second largest automotive instrument cluster market. India and Japan are also prominent markets for automotive instrument cluster.
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The automotive instrument cluster market in India is anticipated to expand due to increasing number of vehicle sales in 2016. Y-o-y growth in vehicle sales in India is significant and follows China in the global market, however the automotive instrument cluster market in Japan is likely to contract due to decreasing sales in automobiles in 2016. The U.S is the dominant market in North America followed by Canada and Mexico. Europe is the third largest automotive instrument cluster market. Germany is a prominent automotive instrument cluster market in Europe. Other major automotive instrument cluster markets in Europe are the U.K, France, Italy and Spain. Brazil is an important automotive cluster market in Latin America, however the market is estimated to contract due to recession.
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