Market Snapshot:
Digital instrument clusters are complex automotive-grade systems that include LCD, cover lens, touch screen, back light and other electronics components. Digital instrument clusters give drivers more information in less time for added driving safety. Rising demand for electric vehicles and increasing demand for luxury vehicles are the major growth drivers of the market.
Highlights from Digital Instrument Clusters Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Largest Market | Europe |
Unit | Value (USD Billion) |
CAGR | 18.5% |
The key Vendors profiled in the report are Bosch (Germany), Panasonic (Japan), Aptiv (Ireland), Toshiba (Japan), Continental (Germany), Denso (Japan), Yazaki (Japan), Visteon (United States), Magneti Marelli (Italy), IAC Group (Luxembourg), Spark Minda (India), Nippon Seiki (Japan) and Nvidia (United States).
Geographic Breakdown and Segment Analysis
The Global Digital Instrument Clusters market presents a comprehensive analysis of the Digital Instrument Clusters market by end-user/application (Passenger cars and Commercial vehicles), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Digital Instrument Clusters industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the Europe holds majority of market share of the Digital Instrument Clusters market
Analyst at AMA have segmented the market study of Global Digital Instrument Clusters market by Type, Application and Region.
Influencing Trend:
Advancements in sensor technology, machine vision, and software developments to provide driver assistance systems
Market Growth Drivers:
Rising Demand for Electric Vehicles Worldwide, Growing Demand for Advanced Cluster Technology by OEMs and Increasing Demand for Luxury Vehicles Fuelling the Digital Clusters Demand
Challenges:
The complexity of Digital Instrument Clusters
Restraints:
Cybersecurity Threats Hampers the Growth of the Market
Opportunities:
Increasing acceptance of semi-autonomous and autonomous vehicle technology, Use of aluminum parts to make digital instrument clusters and Increasing demand for reconfigurable instrument clusters
Market Developments Activities:
In January 2021, Continental is working in collaboration with Leia Inc. for the development of a new 3D display based on natural 3D Lightfield Technology. This technology saves weight, and space, reduces costs, and it will display all digital services to all the passengers in a connected car. The innovative system is planned for production by 2022 end.
In November 2021, Robert Bosch GmbH (Bosch) announced its Engineering Centre in Sofia. The Bosch Engineering Centre Sofia is developing technologies for vehicle electrification, connectivity solutions, displays, instrument clusters, and driver monitoring systems. and In Dec 2020, Continental bags new order for digital instrument clusters from Hyundai: Ramps up production in India. Continental's Business Unit Human Machine Interface is increasing production capacity and development capabilities to meet the growing local demand.
The increasing number of connecting cars and luxury cars. The Digital Instrument Clusters market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on the production technologies, efficiency enhancement, and product life. There is various growth opportunity in this market by providing high-performance and smart tires which is captured by leading players via tracking the ongoing process enhancement and huge investment in market growth strategies.
Key Target Audience
Digital Instrument Clusters Manufacturers, Digital Instrument Clusters Traders/Distributors, Regulatory & Government Bodies, Industry Associations, End Users and Others