Automotive Instrument Cluster Market: Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
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- Status : Published
- Published on: March 2023
- Report ID: KDMI-7156
- Available Format: PDF/Excel/DOC
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Automotive Instrument Cluster Insights
An automotive instrument cluster also referred to as a dashboard, is a collection of instruments and gauges that display important information about the vehicle to the driving force. It typically includes a speedometer, tachometer, fuel indicator, temperature gauge, and warning indicators for systems just as the engine, airbags, and traction control. In recent years, automotive instrument clusters have evolved to become more advanced and complicated. Analog clusters with mechanical gauges are replaced by digital displays that provide more features and customization options.
Some modern instrument clusters use a mixture of digital and analog gauges to supply a balance between tradition and innovation. Instrument clusters are a crucial part of a vehicle's design, as they supply critical information to the driving force and contribute to the general user experience. As vehicle technology continues to advance, automotive instrument clusters are expected to become even more advanced and complicated, offering new features and functions to reinforce the driving experience.
Advanced digital instrument clusters can display information in high resolution and offer features like touchscreens, customizable layouts, and therefore the ability to integrate with other vehicle systems. Some instrument clusters even include augmented reality displays which will project information onto the windshield, allowing the driving force to look at information without taking their eyes off the road.
Automotive Instrument Cluster Market
The global Automotive Instrument Cluster market size was valued at around USD $8.2 billion in 2021 and is projected to grow at a compound annual rate of growth (CAGR) of around 8.3% from 2022 to 2032.The market size is projected to succeed in USD 14.3 billion by 2032.
The automotive instrument cluster market is predicted to grow at a big rate thanks to the increasing demand for advanced and complicated instrument clusters in vehicles. These clusters provide real-time information to the driving force, like speed, reserve, and navigation, and are getting increasingly important for both luxury and standard vehicles. The market is driven by the increasing adoption of advanced technologies, like LCD and TFT displays, and therefore the growing demand for advanced driver assistance systems (ADAS).
The car segment is predicted to dominate the market due to the high demand for advanced instrument clusters. The hybrid instrument cluster segment is predicted to grow at the very best CAGR, thanks to the increasing adoption of hybrid and electric vehicles. Geographically, Asia Pacific is predicted to be the most important market driven by the high demand for passenger cars within the region and therefore the increasing adoption of advanced instrument clusters in vehicles. North American and European markets also are expected to be significant thanks to the high demand for advanced safety features.
Some of the key players within the automotive instrument cluster market include Continental AG, Denso Corporation, Visteon Corporation, Magneti Marelli S.p.A., and Yazaki Corporation. These companies offer a variety of products, from traditional analog instrument clusters to advanced digital instrument clusters with features like touchscreen displays and customizable layouts.
Automotive Instrument Cluster Market Key Drivers
The global automotive instrument cluster market is driven by various factors contributing to its growth in recent years. Some of the key drivers of the are:
- Utilization of cutting-edge technologies: Because of their superior visibility and high resolution, LCD and TFT displays are increasingly being used in instrument clusters.
- Advanced driver assistance systems (ADAS) demand: The demand for instrument clusters that will display this information to the driving force is being driven by the growing use of advanced driver assistance systems (ADAS), such as forward collision warning and lane departure warning.
- Developing interest in associated vehicle advancements: Associated vehicle advancements permit vehicles to talk with each other and with outer frameworks, furnishing drivers with continuous data about traffic, climate, and other pertinent elements. These connected vehicle technologies can be integrated with advanced instrument clusters, giving drivers even more information about their vehicles and the world around them.
- Rising number of electric cars: Advanced instrument clusters that will display information about the vehicle's battery life, range, and charging status are in high demand due to the growing popularity of electric vehicles. Thus, auto producers are growing new instrument bunches that are custom fitted to the exact requirements of electrical vehicles.
- Vehicle production is rising: The automotive instrument cluster market is expanding due to rising vehicle production worldwide, particularly in developing nations.
- Increasing use of hybrid vehicles: Specialized instrument clusters are required for hybrid vehicles to display battery life, range, and charging status information. As a result, manufacturers of automobiles are creating brand-new instrument clusters that are specifically designed to meet the requirements of those automobiles.
- Digitalized and advanced instrument clusters: Customers of today are increasingly looking for instrument clusters that are more complex and feature touchscreens, customizable layouts, and the capacity to integrate with other vehicle systems. To meet this increasing demand, automobile manufacturers are making investments in the creation of cutting-edge instrument clusters.
- Rising interest in cutting-edge well-being highlights: Automobile manufacturers are incorporating cutting-edge safety features into their vehicles because modern consumers are becoming increasingly concerned about driving safety. The engine, airbags, and traction control are just a few of the systems that advanced instrument clusters can display warning indicators for, providing drivers with crucial information about the state of their vehicle.
Automotive Instrument Cluster Market Key Trends and Developments
The global automotive instrument cluster market is undergoing several key trends and developments, including:
- Augmented Reality (AR) Displays: the utilization of augmented reality (AR) displays in automotive instrument clusters is an emerging trend. AR displays can provide drivers with real-time information overlaid on the road ahead, enhancing visibility and situational awareness.
- Artificial Intelligence (AI): the utilization of AI (AI) in automotive instrument clusters is an emerging trend. AI can help optimize displays and supply personalized information supported by individual driver preferences and habits.
Automotive Instrument Cluster Market Segmentation
The automotive instrument cluster market can be segmented based on the following factors:
- By component types: Displays, Sensors, Control Units
- By application: Speedometer, Tachometer, Odometer, Fuel Gauge, Temperature Gauge
- By features: Driver Assistance, Infotainment, Safety
- By technology type: Hybrid, Fully Digital
- By vehicle type: Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs)
- By display size: Small Displays (less than 5 inches), Medium Displays (5 to 8 inches), Large Displays (more than 8 inches)
- By display type: LCD, TFT, LED
- By end-user type: Original Equipment Manufacturers (OEMs), Aftermarket Players
- By region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Automotive Instrument Cluster Regional Synopsis
North America is a mature marketplace for automotive instrument clusters accounting for 25.6% of the worldwide market share, with a high penetration rate of digital instrument clusters. The region is home to many leading automotive manufacturers and suppliers, including Ford, General Motors, and Delphi Technologies. The market is predicted to grow at a CAGR of around 4.3% during the forecast period (2021-2025) against a market size valued at around $2.23 billion in 2020 and is predicted to succeed at $2.75 billion by 2025.
Europe is the largest market accounting for 35.2% of the worldwide share, with Germany being the main contributor to the region's growth. The region is home to many leading automotive manufacturers, including BMW, Mercedes-Benz, and Volkswagen. The market is predicted to grow at a CAGR of around 5.1% during the forecast period (2021-2025) against a market size valued at around $3.61 billion in 2020 and is predicted to succeed at $4.63 billion by 2025. Increasing demand for electric vehicles, connected vehicle technologies, and advanced safety features is predicted to drive growth within the region.
Asia Pacific is the fastest-growing marketplace for automotive instrument clusters with a worldwide share of 30.4%, with countries like China, Japan, and India driving growth within the region. The region is home to many leading automotive manufacturers, including Toyota, Hyundai, and Honda. The growing demand for electric vehicles and advanced safety features is predicted to drive growth within the market at a CAGR of 8.2% from 2021 to 2025. The market size was valued at around $3.12 billion in 2020 and is predicted to succeed at $4.63 billion by 2025.
Latin America may be a developing marketplace for automotive instrument clusters, with countries like Brazil and Mexico driving growth within the region. The market is dominated by aftermarket sales with a complete market share of 3.6% globally. it had been valued at $0.38 billion in 2020 and is predicted to grow at a CAGR of 7.1% to succeed in $0.55 billion by 2025. The Middle East and African market are small with limited demand for advanced features and technologies. However, the increasing adoption of electric vehicles and therefore the growing demand for advanced safety features are predicted to drive growth at a CAGR of 5.6% (2021-2025). it's expected to succeed in size of $0.71 billion by 2025 against an earlier estimate of $0.54 in 2020.
Automotive Instrument Cluster Market Key Challenges
The automotive instrument cluster market faces several key challenges that could potentially impact market growth and profitability. Some of the key challenges include:
- Visteon Corporation
- Robert Bosch GmbH
- Denso Corporation
- Continental AG
- Magneti Marelli S.p.A.
- Alpine electronics, Inc.
- Delphi Automotive LLP
- Innolux Corporation
- Japan display Inc.
- Mitsubishi Electric
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