Automotive Digital Instrument Cluster Market Size Worth USD 16.46 Billion by 2028 Growing at a CAGR of 16.91% | Industry Size, Growth & Report Analysis by Brandessence Market Research

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Oct 12, 2022, 07:30 ET

LONDON, Oct. 12, 2022 /PRNewswire/ -- Automotive Digital Instrument Cluster Market is valued at USD 5.52 Billion in 2021 and expected to reach USD 16.46 Billion by 2028 with the CAGR of 16.91% over the forecast period.

The Global Automotive Digital Instrument Cluster Market is going to increase in the world and continue on to the growth of the market in the last few years. The reason for this is the industry shipments in the world in the last few years. The digital instrument cluster is the display used for guiding the driver with the exact information of the functions of the vehicles and parameters that can be seen in a major visually comfortable form. With this system, the consumers may understand the entire functions of the vehicle at one glance.

An Automotive Digital Instrument Cluster is an immediate data source for the driver, which gives essential information about the status of the vehicle. This contains speedometer, illumination, pointers, fuel-gauge, warning indicators, and electronic control unit. In addition, the instrument cluster is coming up with advanced technologies like 2D and 3D graphics to display more complex data in a better way. Hence, the digital instrument cluster provides basic information such as speed, mileage covered, temperature, fuel level, telltales, and warnings. These also have included additional information systems such as radio, on board computer, internet, navigation, and driver assistance system. The digital instrument clusters help in combining various pieces of information and renders it in the driver's primary viewing range. It enables OEMs to include new information display with manageable changes unlike the earlier days where the complete dashboard had to be replaced for even minor changes.

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Key Players for Automotive Digital Instrument Cluster Market-

Bosch
Delphi
Continental
Sharp,
DENSO
Visteon
Alpine Electronics
ID4Motion
Mitsubishi Electric
Nippon Seiki
Luxoft
YAZAKI
others.

The major development of the intelligent vehicle technologies with the higher demand for vehicles that are high end and there is intense competition among the manufacturers is a big impacting factor in the expansion of the industry. These are digital systems which are going to replace the analog instrument cluster systems in the coming years due to the increase in the visibility, better features of user interactivity and larger displays.

This is an industry that is going to see a huge expansion trend because of the increased implementation in the luxury and premium cars. Most of the vehicles at present include the instrument cluster systems because of the lower costs and higher availability across the regions. Though, the advanced interactivity between the users and the customizable features along with the control of the driving assistance functions offered by the solutions are huge factors which support the industry in prospects of expansion.

There is a growth in the electrification and the digitalization of the newly developed luxury and passenger vehicles and is driving the automobile digital instrument cluster market and its growth. The demand has been attributed to the integration of the complete reconfigurable clusters in the luxury vehicles due to the safety and customizable features. The cluster manufacturers have been developing the solutions with the bigger size of displays due to the customer requirements as well as the trend of vehicle digitalization.

The advanced solutions also include the improved displays and graphics, providing the better information to drivers and others. Furthermore, there is change in the vehicle designs as well as the interiors for providing a better information to all drivers. Further, the change in the designs of vehicles and the interiors for providing a user experience that is better in every way for the automobile sector all over the world.

The European market for the automotives is also going to see a higher growth due to the increase in the consumption and production of the luxury vehicles and the high-end vehicles. These are solutions which are offered for the enhanced safety, driving comfort, convenience and higher demand from the consumers in Europe. Another reason here is the fact that there are many companies out here in the world such as BMW, Audi and some other companies. This is where the region is going to grow considering the ease that the companies have in selling and producing this region. The market will grow further after the coronavirus setback.

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Global Automotive Digital Instrument Cluster Market Segmentations: –

Global Automotive Digital Instrument Cluster Market report is segmented on the basis of product type, application, and region & country level. Based on product type, global automotive digital instrument cluster market is classified as the analog instrument cluster, hybrid instrument cluster and digital instrument cluster. Based upon application, global automotive digital instrument cluster market is classified into passenger vehicles and commercial vehicles.

By Product Type:

Analog Instrument Cluster
Hybrid Instrument Cluster
Digital Instrument Cluster

By Application:

Passenger Vehicles
Commercial Vehicles

Global Automotive Digital Instrument Cluster Market Regional Analysis–

North America is expected to dominate the Global Automotive Digital Instrument Cluster Market with the highest market share in terms of profits in overall market of automotive digital instrument cluster. The U.S. is anticipated to show a healthy growth in the automotive instrument cluster market owing to presence of a large number of automobile manufacturers having their base in this region. According to According to Indian Consumer Durables Presentation (IBEF); in 2016, the United States total national vehicle miles traveled (VMT) increased by 3.3 % to 1.58 trillion miles compared to its value 1.54 trillion miles, they were 30 plug-in electric vehicle (PEV) models and 37 hybrid electric vehicle (HEV) models available in the United States and also the several additional automobile manufacturers announced plans to offer all electric vehicles by the 2020. 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.

Asia-Pacific region is expected to witness a fastest growth in the global automotive digital instrument cluster market. China, India, and Japan are the major economies in this regional market which are anticipated to grow at a faster rate in the global market owing to the rising sales of the automobiles in India and China will drive the demand for automotive instrument cluster in the region. In addition, the growing awareness regarding the safety features will also significantly impact the automotive instrument cluster market in this region.

On Special Requirement Automotive Digital Instrument Cluster Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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