Automotive Gauges and Meters Market: Introduction
- Automotive gauges and meters market is likely to witness significant growth during the forecast period
- Gauges and meters are integrated in the instrument cluster of a vehicle to provide information about the vehicle. They indicate key parameters to the driver of the vehicle such as vehicle speed, fuel level, rpm, oil pressure, and distance travelled by the vehicle.
- Gauges and meters can be analog as well as digital; however, digital meters witness demand over analog meters and gauges
Key Drivers of Automotive Gauges and Meters Market
- Automotive gauges and meters market is likely to expand at a significant rate during the forecast period, owing to demand for highly informative instrument cluster among automotive enthusiasts and consumers
- Development of systems that provide detailed information about vehicle systems, such as tire pressure monitoring system and cabin temperature indicators, are likely to fuel the market for automotive gauges and meters during the forecast period
- Integration of digital gauges in modern vehicles is increasing. Moreover, the ability to display multiple parameters of a vehicle in a single meter is driving the market for digital automotive gauges and meters.
- Automotive gauges and meters market is highly dependent on the production of vehicles, which has shown consistent growth over the past few years. Thus, rise in production of vehicles is anticipated to fuel the market for automotive gauges and meters.
- Investments in the development of various technologies, such as heads-up display, and integration of multiple safety features that indicate the distance between proceeding and leading vehicles, are expected to drive the gauges and meter market
Speedometer and odometer are anticipated to be key technologies in the market, owing to their 100% market penetration
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Integrated Telematics Systems in Vehicle to offer Attractive Opportunities
- Market for telematics services and technologies has shown tremendous growth in the last five years. Moreover, integration of vehicle diagnostics systems and predictive maintenance systems, which comprise multiple meters and gauges, is likely to increase. This is anticipated to offer growth opportunities in the global automotive gauges and meters market.
Asia Pacific Automotive Gauges and Meters Market to Witness Growth
- Asia Pacific is the largest automotive producer across the globe. China alone holds more than 30% of the global vehicle production. Availability of efficient and cost-effective labor has been a major factor for high production in the region. China, India, and Japan are major vehicle manufacturing countries in Asia Pacific.
- Demand for two-wheelers (motorcycles and scooters) in Asia Pacific is significantly high as compared to the other regions. These vehicles use a notable share of automotive gauges and meters. India is the largest market for two-wheelers and thus holds a significant share of the Asia Pacific automotive gauges and meters market.
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Key Players Operating in Global Market
The global automotive gauges and meters market is highly fragmented, owing to the presence of a large number of small-scale manufacturers. Some of the major players operating in the global automotive gauges and meters market are:
- Continental AG
- Delphi Automotive LLP
- Innolux Corporation
- Japan display Inc.
- Mitsubishi Electric
- Robert Bosch GmbH
- Visteon Corporation
Automotive Gauges and Meters Market: Research Scope
Global Automotive Gauges and Meters Market, by Meter type
- Fuel Gauge
- Battery Level Indicator
- Oil Pressure Gauge
- Temperature Gauge
Global Automotive Gauges and Meters Market, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive Gauges and Meters Market, by Propulsion System
- Internal Combustion Engine
- Electric Motor
Global Automotive Gauges and Meters Market, by Technology
Global Automotive Gauges and Meters Market, by Supplier
Global Automotive Gauges and Meters Market, by Region
- North America
- Russia & CIS
- 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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
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?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.