Press release
Global Automotive Instrument Cluster Market - Industry Analysis, Market Size, Share, Trends & Forecast 2023
According to the latest industry analysis by Arizton, the global automotive instrument cluster market size is expected to reach close to $12 billion by 2023. The market research report provides an in-depth market analysis and segmental analysis of the global automotive instrument cluster market by product, vehicle type, and geography.Automotive Instrument Cluster Market - Overview
The increasing proliferation of cockpit electronics solutions that offer centralized control and seamless data and information exchange between various systems is propelling the growth of the automotive instrument cluster market. Automotive instrument clusters improve the interconnectedness between various systems in a vehicle. The rising demand for connected cars and integration of smartphones to automotive cockpit electronics will attribute to the growth of the global market. These instrument clusters are referred to as a consolidated information panel in the vehicle and provides all the necessary information to the driver. This system is used to display information on vehicle status data such as speed of the vehicle, engine rpm, transmission data, fuel levels, trip data, seat-belt indicator, door status, and several warning/check indicators. The introduction of telematics, digital clusters, and high-end infotainment systems in the mid-priced vehicle segment will revolutionize the global market.
The growing demand for advanced electronic and semiconductor component will boost the automotive instrument cluster in the global market. The leading vendors are leveraging technology to introduce pioneering systems such as advanced driver assistance systems (ADAS) to gain a larger market share and attract new consumers. The automotive instrument cluster market will reach revenues of close to $12 billion by 2023.
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Market Dynamics
Market Growth Enablers
Growing Global Sales of Passenger Cars
Shift in Consumer Focus On Connected and Hybrid Cars
Emerging Economies Driving Market Growth
YoY Impact of Market Growth Enablers
YoY Impact of Market Growth Enablers On Regions
Market Growth Restraint
Rising Labor Costs in Low-Cost Economies
Short Technological Life Cycle
Automotive Cyberattacks and Cost-Tradeoffs
YoY Impact of Market Growth Restraint
YoY Impact of Market Growth Restraint On Regions
Market Opportunities & Trends
Growing Electrification of Automotive Mechanics
introduction of Concept of Autonomous Vehicles
increased Focus On introducing Safety Solutions – Adas
YoY Impact of Market Opportunities & Trends
YoY Impact of Market Opportunities & Trends On Regions
Sensitivity Analysis of Key Market Trends and Opportunities
Automotive Instrument Cluster Market – By Products
Implementation of hybrid instrument clusters in mid-priced cars segment to gain momentum in the automotive instrument cluster market during forecast period
The automotive instrument cluster market by products is segmented into analog, hybrid, and digital. The hybrid cluster was the largest product segment in the global market in 2017 and is anticipated to grow at a CAGR of more than 8% during the forecast period. The growing demand for hybrid instrument clusters from mid-priced cars segment in emerging countries is driving the growth of this market segment. The decreasing prices of LCD and TFT technologies is encouraging vendors to incorporate hybrid cluster into economy passengers, thereby, boost the demand for these clusters in the global market. The leading vendors are investing in the development and incorporation of 3D graphics technology in hybrid clusters to enhance consumer experience and gain a larger market share.
Automotive Instrument Cluster Market – By Vehicle Type
Mid-priced cars to dominate the global automotive instrument cluster market during forecast period
The vehicle type segment in the automotive instrument cluster market is classified by economy cars, luxury cars, and mid-priced cars. The mid-priced car segment dominated the global market in 2017 and is projected to grow at a CAGR of close to 8% during the forecast period. The increasing demand for highly advanced and sophisticated instrument clusters is driving the growth of this segment in the global automotive market. The rising requirement interactive infotainment systems with added functionality such as navigation, song selection, and surrounding data will revolutionize the market during the forecast period. The increase in per-capita disposable income and development of economies across emerging countries in the APAC region will propel the demand for advanced instrument cluster in the market.
Automotive Instrument Cluster Market – By Geography
APAC to lead productions in the global automotive instrument cluster market during forecast period
The automotive instrument cluster market by geography consists of APAC, Europe, Latin America, MEA, and North America. APAC was the largest geographical segment in the global market in 2017 and is expected to grow a CAGR of over 9% during the forecast period. China leads the automotive production in the global market and countries such as Japan, South Korea, and India are also significant revenue contributors in the APAC market. The availability of low-cost labor and reduce logistical costs makes APAC the hub of manufacturing and production units in the global automotive market and drives the growth of this segment. The rising expenditure on high-end products, automobiles, EVs, and HEVs, and leisure items will have a positive impact on the growth of the global market during the forecast period.
Key Countries Profiled
The key countries profiled in the report are:
China
Japan
South Korea
Germany
US
Brazil
Key Vendor Analysis
The automotive instrument cluster market is moderately fragmented, and the top players control more than 50% of the total market share. The leading players in the market are focusing on offering automotive cockpit electronics with high functionality and designs to sustain the competition in the market. The infiltration of low quality products will result in occasional spurts of competitions in the global market. The increasing number of product/service extensions, technological innovations, and M&As will intensify the level of competition in the global market during the forecast period.
The major vendors in the global market are:
Continental AG
Denso
Magneti Marelli
Nippon Seiki
Visteon Corporation
Other prominent vendors include Alps Electric, Aptiv, Desay, Innolux, Japan Display, Kyocera Corporation, LG Electronics, Panasonic Corporation, Bosch, Sharp, and Yazaki Corporation.
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Key Topics Covered are
12 Global Automotive instrument Cluster Market
12.1 Market Size & Forecast
12.2 Life Cycle of Automotive Electronic Components – 2017 Perspective
12.3 Factors Affective Electronics Use in Automotive Market
12.4 Additional Electronic Components in Evs & Hevs
12.5 Advent of Autonomous Parking System
12.5.1 Government and Transport Authorities initiatives in Safety
12.6 increasing Cost Pressure On Vendors
12.7 Urbanization and Duel-income Households
12.8 Smartphone Penetration Assisting Growth For Connected Cars
12.9 Porter’s Five Forces Analysis
12.9.1 Threat of New Entrants
12.9.2 Bargaining Power of Suppliers
12.9.3 Bargaining Power of Buyers
12.9.4 Threat of Substitutes
12.9.5 Competitive Rivalry
13 Market by Product Type
13.1 Market Overview
13.2 Global Automotive Analog instrument Cluster Market
13.2.1 Market Size & Forecast
13.3 Global Automotive Hybrid instrument Cluster Market
13.3.1 Market Size & Forecast
13.4 Global Automotive Digital instrument Cluster Market
13.4.1 Market Size & Forecast
14 Market by Vehicle Type
14.1 Market Overview
14.2 Market Size & Forecast
15 Geographical Segmentation
15.1 Market Overview
16 APAC: Automotive instrument Cluster Market
16.1 Market Overview
16.1.1 Market Size & Forecast
16.1.2 Adoption Rate of Safety Systems by OEMs
16.2 Key Countries
16.2.1 China: Market Size & Forecast
16.2.2 Japan: Market Size & Forecast
16.2.3 South Korea: Market Size & Forecast
16.3 Leading Trend, Enabler, and Restraint
17 Europe: Automotive instrument Cluster Market
17.1 Market Overview
17.1.1 Market Size & Forecast
17.2 Key Countries
17.2.1 Germany: Market Size & Forecas
17.3 Leading Trend, Enabler, and Restraint
18 North America: Automotive instrument Cluster Market
18.1 Market Overview
18.1.1 Market Size & Forecast
18.2 Key Countries
18.2.1 Us: Market Size & Forecast
18.3 Leading Trend, Enabler, and Restraint
19 Latin America: Automotive instrument Cluster Market
19.1 Market Overview
19.1.1 Market Size & Forecast
19.2 Key Countries
19.2.1 Brazil: Market Size & Forecast
19.3 Leading Trend, Enabler, and Restraint
20 MEA: Automotive instrument Cluster Market
20.1 Market Overview
20.1.1 Market Size & Forecast
20.2 Key Countries
20.3 Leading Trend, Enabler, and Restraint
21 Competitive Landscape
21.1 Market Overview
21.2 Market Structure and Mapping of Competition
21.2.1 Herfindahl-Hirschman index
21.3 Market Share Analysis
21.3.1 Overview
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About Arizton Advisory & Intelligence
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-465-7864
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