Automotive Gauge Market: Introduction
- Automotive gauge is an instrument cluster that displays information such as engine oil, speed, mileage, fuel level, and various other parameters. Earlier, the automotive gauge was a simple instrument that provided indication of basic parameters. Advent of digitalization and use of electronics have spurred the development of the digital gauge.
Key Drivers of Automotive Gauge Market
- Automotive gauges such as odometer and engine oil level are mandatory and hence, are used in all vehicles
- Rise in sales of vehicles, globally, is a major factor driving the automotive gauge market. Increase in demand for commute among consumers owing to rising employment opportunities in developing countries and urbanization are projected to boost the automotive gauge market.
- Rapid advances in the field of electronics and sensors and adoption of various safety features, such as tire pressure monitoring system, anti-lock brake system, and electronic stability program, are likely to boost the automotive gauge market. Adoption of various safety, entertainment, and infotainment features is likely to further propel the automotive gauge market during the forecast period.
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Aftermarket segment held a significant share of the global automotive gauge market
- Transport authorities around the world require vehicles to be fitted with proper and functioning automotive gauges. The gauge needs to be replaced in case of failure, without which the vehicle is deemed unfit for driving on the road. Thus, the aftermarket segment holds a significant share of the global automotive gauge market.
Asia Pacific to hold dominant share of global automotive gauge market
- In terms of region, Asia Pacific held a major share of the automotive gauge market owing to the high production volume of vehicles in China, India, Japan, and South Korea. Asia Pacific is followed by Europe and North America in terms of market share. The market in Latin America is projected to expand significantly owing to the expansion of economies such as Brazil, Argentina, Colombia, Uruguay, and Chile in the region.
Key Players Operating in Automotive Gauge Market
The global automotive gauge market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global automotive gauge market are:
- Continental AG
- YAZAKI Corporation
- Calsonic Kansei Corporation
- IAC Group
- NVIDA Corporation
- HARMAN International, Inc.
- DENSO Corporation
- Visteon Corporation
- Nippon Seiki Co., Ltd.
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Global Automotive Gauge Market: Research Scope
Global Automotive Gauge Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Commercial Vehicle
Global Automotive Gauge Market, by Gauge Type
- Fuel Gauge
- Battery Level Indicator
- Oil Pressure Gauge
- Temperature Gauge
Global Automotive Gauge Market, by Sales Channel
Global Automotive Gauge Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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