Digital Instrument Clusters Market Size to Grow at a Steady Rate During Forecast Period (2015-2025)
Digital Instrument Clusters: Drivers & Restraints
The key factor driving the digital instrument clusters market is substantial rise in the automobile output and its personalization. A digital instrument cluster that is reconfigurable is very appealing. Features such as distance until next charge, information on battery charge, and other driver information, can easily be displayed using a digital instrument clusters. These features are driving the market for global digital instrument clusters. Another factor driving the market for global digital instrument is consumer trend. The tablet, PC and smartphone ownership is increasing and there are opportunities to integrate these devices to drive global digital configurable instrument clusters. Furthermore, the economical and the environmental constraints upon the engine designs are driving the introduction of digital instrument clusters since the interior gains more attention from OEMs as a way to differentiate. Another features that are driving the global digital instrument clusters market includes advanced technological features such as reusability, dynamic, scalable, simple and attractiveness. Digital instrument clusters needs a larger LCD display- often 1280 x 480 pixels, thus leading to higher cost. Also, an 8 or 16-bit CPU cannot transfer that many pixels, hence the digital cluster needs a 32-bit CPU. In addition, the level of software capability needed extends beyond the traditional entrenched skill set. These factors act as restraints for the digital instrument clusters up to a certain extent.
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Digital Instrument Clusters: Segmentation
On the basis of application, the global digital instrument clusters market is segmented into:
Others (Digital cameras, inverters, power suppliers, painters, car radio, LED lighting, payment terminals)
The demand for digital instrument clusters in automobiles is anticipated to grow at an accelerated pace mainly due to significant growth in the automobile industry globally. Furthermore, the smartphone segment is also expected to grow at a high CAGR during the forecast period.
Digital Instrument Clusters: Region-wise Outlook
On the basis of region North America, Asia Pacific and Japan are expected to be the dominant players as a result of growing economy in these regions. The Indian electronics system design and manufacturing (ESDM) industry is one of the fastest growing industry in the country, which is further boosting the demand for digital instrument clusters in the region. The global digital instrument cluster market is anticipated to grow at a steady rate in other regions of the world as a result of a slowing global economy in these regions.
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Digital Instrument Clusters: Key Players
Some of the market participants in the global digital instrument clusters market are Nippon Seiki Co., Ltd., Ford Motor Company, Audi AG, Renault, Volkswagen, Kia Motors Corp., BMW AG, Jaguar Land Rover Limited, NVIDIA Corporation and Tesla Motors.
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