Digital Instrument Cluster Market for Automotive - Overview

A clear display of information is necessary while driving to ensure a safe and comfortable ride. The digital instrument cluster offers attractive and precise information to alert the driver while driving. The instrument cluster combines various information from different parts of the vehicle and displays in front of the driver. Digital instrument clusters are available in a wide range of cars, from entry levels to premium models. The digital instrument cluster provides basic information such as speed, mileage covered, temperature, fuel level, telltales, and warnings. It also includes additional information systems such as radio, on board computer, internet, navigation, and driver assistance system.

Increasing demand for premium and electric vehicles, rising demand for sporty digital cluster instrument from OEMs as well as from consumers, and high rate of adoption of multi-layer display technology owing to its 3D graphics experience are likely to boost the digital instrument cluster market during the forecast period. Furthermore, development of superior and attractive graphic display is likely to drive the demand for digital instrument cluster during the forecast period.

Digital Instrument Cluster Market for Automotive - Segmentation

The global digital instrument cluster market for automotive can be segmented based on display type, vehicle type, sales channel, and region. Based on display type, the digital instrument cluster market for automotive can be classified into LCD, OLED, and other one segment. The market is witnessing an evolution from analog instrument clusters to LCD and thin-film transistor-based (TFT) clusters. TFT-based display offers an enhanced graphical interface and a host of digital information. Rise in utilization of relevant content such as drive mode, parking view, and navigation is anticipated to boost the demand for TFT LCD instrument clusters during the forecast period.

In terms of vehicle type, the digital instrument cluster market for automotive can be divided into passenger vehicle, commercial vehicle and electric vehicle. The passenger vehicle segment can be further sub-segmented into hatchback, SUV and sedan. Expansion of the SUV market across the globe is a major reason for expansion of the passenger vehicle segment, which in turn is positively impacting the digital instrument cluster market for automotive. Rise in adoption rate of electric vehicles and integration of new technologies in electric vehicles are likely to propel the demand for digital instrument during the forecast period.

Based on sales channel, the digital instrument cluster market for automotive can be bifurcated into OEM and aftermarket. The OEM segment is projected to expand at a significant pace during the forecast period. Increase in vehicle production drives the OEM segment. End-users prefer OEM-fitted instrument clusters owing to their superior quality, and better material selection.

In terms of region, the digital instrument cluster market for automotive can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is expected to hold major share of the global market by the end of the forecast period owing to high proportion of passenger vehicles, rise in demand for luxury vehicles, and increase sales of electric vehicles in the region. Likewise, North America and Asia Pacific are likely to hold significant share of the global market by the end of the forecast period owing to the presence of large automotive hubs in respective regions.

Digital Instrument Cluster Market for Automotive - Key Players

Key players operating in global digital instrument cluster market for automotive include Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Technologies, Visteon Corporation, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, and YAZAKI Corporation.

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
  • Europe
  • 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.

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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.

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Digital Instrument Cluster Automotive Market

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