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.
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