Press release
Digital Instrument Cluster Market Analysis From 2018 To 2023: Global Size, Share, Sales, Industry Trends, Manufacturers, Aftermarket and Regional Forecast
Continental AG (Germany), Nvidia Corporation (U.S.), Robert Bosch GmbH (Germany), Nippon Seiki (Japan), Visteon Corporation (U.S.), IAC Group (Luxembourg) and Panasonic (Japan). Delphi Technologies (U.K.), Magneti Marelli S.p.A. (Italy), Denso Corporation (Japan), Sharp Corporation (Japan), Alpine Electronics, Inc.(Japan), Mitsubishi Electric Corporation (Japan), Luxoft (Switzerland), Yazaki Corporation (Japan), ID4Motion (Netherlands) and Nippon Seiki Company Ltd. (Japan) are some of the prominent players profiled in Analysis and are at the forefront of competition in the Global Digital Instrument Cluster Market.
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Digital Instrument Cluster Market Overview:
There are several factors that are responsible for the growth of the Digital Instrument Cluster market. Some of them are fatigued drivers getting confused due to the readings shown on the analog systems, the easily readable and comprehensible digital display panel, and the vehicle service personnel prefer these digital panels due to the precise and easy on eye information display aiding the diagnostic and vehicle repair. Economies of scale, with respect to manufacture and maintenance of these digital systems while bulk producing the thousands of cars, also adds to the market growth. The global Digital Instrument Cluster market is expected to grow with a CAGR of approx. 20 % (2017 to 2023).
The electronic display or the digital display cluster in an automobile is a digital panel showing a set of parameters like the vehicle speed, the engine rpm, the fuel capacity and the utilized fuel from the fuel tank. The basic purpose of such an electronic consolidated panel (Digital Instrument Cluster system) is to provide the driver with precise information about the vehicle functionality related parameters in a visually comfortable format. The basic need of such a system arises from the consumer wanting to have an understanding of the entire vehicle and its functioning at a single glance. The analog instrument cluster systems of the earlier times were often misleading and confusing since the margin for error in their functioning was quite high. The driver while riding the vehicle gets limited time to glance at the analog instrument reading panel and process the information. The digital system provides simple and easily comprehensible information, making the overall driving experience much better.
Digital Instrument Cluster Market Segmentation:
On the basis of the display size, the most commonly used display seze is the ‘9-11 inch’ type. Due to the optimum size and low cost of production, this particular size variety is in large demand and will continue to do so for the foreseeable future. Of the display types, the ‘TFT-LCD’ type is in great demand. The superior display clarity and relative low cost of production (in cases of bulk production) makes it the largest segment in the market. On the basis of the type of fuel used, all five types (petrol, diesel, BEV, PHEV, and HEV) will see an upward trend in shifting to the digital cluster system. This is due to the simplicity and user-friendly design of the digital instrument cluster system.
Digital Instrument Cluster Market Regional Analysis:
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (especially U.S. and Canada), has seen a consistent rise in the number of automobiles plying on the road. Owing to mediocre public transport system, the customers here prefer personal vehicles for carrying out their daily activities. The digital instrument cluster provides greater control and better visibility of all the possible vehicle parameters, due to which it is the ideal riding aide for long distance journeys. The Asia Pacific automotive market has always has a strong global presence due to the big global player – Japan. The Japanese technologically advanced cars are always better off with the support of advanced digital instrument cluster, especially with huge sales in India and China. The Europe market has always had a prevalence of high-end cars, which again are better complimented with high tech digital instrument cluster systems.
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This study provides an overview of the Global Digital Instrument Cluster Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Digital Instrument Cluster market by its Display Size, Display type, Type of Fuel used, Vehicle Type and Region.
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