Instrument Cluster Market Trend, Growth, Size, Forecast, Key Players and Competitive Lanscape Research Report
The global instrument cluster market size was USD 7.61 Billion in 2021 and is expected to register a revenue CAGR of 3.39% during the forecast period, according to the latest analysis by Emergen Research. The rising demand for automated and flexible instrument clusters is projected to support market revenue growth between 2021 and 2030. For example, as a scalable instrument cluster platform, Infineon has an unmatched offering. The broadest scalability is offered by the Traveo and Traveo II microcontroller product lines, which support virtual instrument clusters in addition to standard gauge instrument clusters and hybrid instrument clusters. The microcontroller’s graphics engine has the option of line-based operation, which reduces the amount of memory needed for graphics processing. Other products from Infineon, such as SemperFlash and HyperRAM, offer performance and density flexibility to satisfy the needs of various instrument cluster systems. Real-time graphics and quick access are both appropriate uses for these high-performance memory devices. In addition to reducing design costs, the low-pin count interface also minimizes Printed Circuit Boards (PCB) space and design complexity.
Automated instrument clusters provide drivers with a condensed, easily readable display that includes all the crucial driving information for the vehicle. Therefore, the perfect cluster dashboard should enable trustworthy updates and flexible customisation. Screens for digital instrument clusters must fulfil a number of criteria. In order for the cluster to fit in the space between the steering wheel and windscreen, the display needs to be as large and as short as possible. Displays that are 1,280 pixels wide by 480 pixels height are currently used in the majority of designs. To increase visibility, displays have a matte, non-reflective coating and bright, high-contrast graphics.
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Some Key Highlights From the Report
- The passenger cars segment accounted for the largest revenue share in 2021 due to the rapid adoption of SUVs across the globe. Integration of digital instrument clusters with advanced technologies in Electric Vehicles (EVs) is also contributing to market revenue growth. Multiple driving modes are possible in vehicles with complicated hybrid or electric systems, a digital cluster can continuously update data presented as the vehicle changes modes. By displaying specific information that the driver needs, instrument clusters can improve driving safety by reducing driver distraction. These factors are expected to drive revenue growth of the segment during the forecast period.
- The digital segment is expected to register a rapid revenue CAGR during the forecast period. Digital clusters give information for safe, convenient, and stress-free driving. They also provide information such as external temperature, charge or fuel level, trip mileage, and others.
- Asia Pacific market is expected to register the fastest revenue growth rate over the forecast period. China, India, and Japan all have growing automobile industries and rising interest in improving the consumer experience. Sales of automobiles have increased as a result of government support for the auto industry, increased manufacturing, lowered COVID-19 restrictions, and government subsidies.
- On 09 June 2022, The next generation of Apple CarPlay will be available from 2023 and will have several in-car panels, including a digital instrument cluster. Additional car control capabilities, such as radio controls, climate control, and real-time vehicle statistics including speed, fuel level, and temperature, will also be available with updated software. Multiple screens in cars using new software will display images created by Apple. In addition, by adding numerous widgets, such as weather and music apps, drivers will be able to personalize their instrument cluster.
The leading contenders in the global Instrument Cluster market are listed below:
Robert Bosch GmbH, Continental AG, YAZAKI Corporation, Visteon Corporation, Denso Corporation, Pricol Limited, Marelli Corporation, Nippon Seiki Co., Ltd., Infineon Technologies AG, LUXOFT, A DXC Technology Company, Parker Hannifin Corp., Panasonic Corporation
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Emergen Research has segmented the global instrument cluster market on the basis of type, vehicle type, technology, and region:
Type Outlook (Revenue, USD Billion; 2019–2030)
- Temperature Gauge
Vehicle Type Outlook (Revenue, USD Billion; 2019–2030)
- Two wheeler
- Commercial Vehicles
- Passenger Cars
Technology Outlook (Revenue, USD Billion; 2019–2030)
Regional Outlook of the Instrument Cluster Market
The global Instrument Cluster market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Instrument Cluster market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
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Key reasons to buy the Global Instrument Cluster Market report:
- The latest report comprehensively studies the global Instrument Cluster market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
The report also provides an extensive analysis of the key market elements, such as drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The exhaustive SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis included in the report are intended to help the reader tactfully formulate business growth strategies. Strategic recommendations for the established market players assist them in fortifying their financial positions in the market.
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