What is Automotive Instrument Market?
The automotive instrument is the collection of components or systems that are used to measure, monitor and control the process in the vehicle. In modern vehicles, software-controlled electronics plays an important role in the functioning of the vehicle's subsystems. There are around 8 to 10 intelligent electronic modules in a medium-sophistication vehicle that are performing functions such as engine control, transmission, brakes, steering, navigation, HVAC, safety, security, audio, driver information, and others. As compare to analog instruments, electric and digital instrument are present in the vehicles. Vehicles are now manufactured to deliver information and diagnostics, such as low tire pressure, check engine, door ajar, fuel pump pressure, outside ambient temperature, brake fluid level, and more. The major changes to instrumentation are solid-state sensors, microprocessors, and solid-state display devices. These sensors are designed to transform a non-electrical signal to an equivalent current or voltage.
Highlights from Automotive Instrument Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Continental AG (Germany), DENSO (Japan), Visteon (United States), Nippon Seiki (Japan), Delphi Technologies (United Kingdom), BOSCH (Germany), Fujitsu (Japan), JVCKENWOOD (Japan), Sony (Japan), Panasonic (Japan), Luxoft (Switzerland), Mitsubishi Electric (Japan) and Alpine electronics, Inc. (Japan) |
Automotive Instrument is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that Japanese Vendors will contribute to the maximum growth of Global Automotive Instrument market throughout the forecasted period.
Continental AG (Germany), DENSO (Japan), Visteon (United States), Nippon Seiki (Japan), Delphi Technologies (United Kingdom), BOSCH (Germany), Fujitsu (Japan), JVCKENWOOD (Japan), Sony (Japan), Panasonic (Japan), Luxoft (Switzerland), Mitsubishi Electric (Japan) and Alpine electronics, Inc. (Japan) are some of the key players profiled in the study. Automotive Instrument Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Passenger Car and Commercial Vehicle (LCVs, HCVs) |
Type | Automobile Evaluation Instruments, Analytical and Testing Instruments, Gas Analyzers, High-Speed Impact Tester, Thermal Fatigue Testing System, Electrical Component Tester, Micro Hardness Testers and Others |
Technology | Digital,Hybrid,Analog |
Sales Channel | OEMs,Aftermarket |
On the basis of geography, the market of Automotive Instrument has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancements in sensor technology, machine vision and software developments to provide driver assistance systems
Market Growth Drivers:
Growing Demand for Infotainment System in the Vehicles and Increasing Adoption of Multi-Layer Display Technology Owing to Its 3D Graphics Experience
Challenges:
Technological Advances that Maximize Automotive Instrument
Restraints:
Implementation of Advanced Technology Leads To Increase in Costs
Opportunities:
Rising Demand For Luxurious Features in Automotive and Increasing Demand of Passenger Cars in Developing Countries
Key Target Audience
Manufacturers of Automotive Instrument, Suppliers of Automotive Instrument, Wholesalers, Distributors and Retailers of Automotive Instrument, Automotive Industry and Potential Technology Investors
Market Leaders & Development Strategies
On December 17, 2019 - DENSO Corporation announced that it has taken a stake in PiNTeam Holding GmbH, a German company highly evaluated for its in-vehicle embedded software technology deployed primarily in Europe. With this equity stake, DENSO will accelerate the development of basic software that controls in-vehicle electronic control units (ECUs).
On January 8, 2020 - Visteon collaborates with Tencent to launch SmartCore domain controller on new Aion LX electric vehicle platform from GAC.