Instrument Cluster Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
The invention of electronics in the automotive industry has changed the entire operation system in vehicles. The traditional dashboard is no longer a part of modern vehicles, rather it is an updated modern operating system installed in the automotive, and thus creates lucrative opportunities in the instrument cluster market.
These devices are used to present critical information related to the condition of the vehicle. The operation in any vehicle is identified and displayed in digital or analog form with the assistance of actuators. So, it further ensures real-time information sharing about vehicle conditions to the users. There is a continuous growing requirement of services from the automotive instrument cluster market, and the credit for this goes to the constant technological advancements in automotive industry technologies.
The instrument cluster market is advancing as it ensures rapid delivery of vehicle status information to users with advanced solutions. It shares information about mileage, speed, different warning limit indicators, oil indication, fuel indication, and many more. The instrument cluster used to provide information are factory-fitted, and the consumers need not pay the expensive amount for such advanced facilities. So, this factor adds value in the instrument cluster market for future growth. The increasing digitization in automotive instrument clusters coupled with growing wireless capabilities is anticipated to boost the instrument cluster market. Furthermore, the increasing use of digitized clusters in the services of the luxurious car may bolster the automotive industry, which will also boost growth in the instrument cluster market.
But there are certain constraints related to the instrument cluster market. One of these restrictions for the market growth includes high production costs for consoles shifts from analog to digital. The increased cost related to internal components, for example, power systems, integrated circuits, and some other are putting restrictions in the instrument cluster market to come up with their extensive potential. One more threat related to the growth perspective in the instrument cluster market includes cyber-attack coming from some external sources. It may cause control loss of the vehicles because of digitization. This security reason is also curbing growth in the instrument cluster market.
Instrument Cluster Market – Introduction
A clear and precise display of information is vital for the driver to ensure a safe and comfortable ride. The different types of instrument clusters have been witnessing increasing traction in the automobile sector, as they provide attractive and accurate information to keep the driver vigilant while driving. Instrument cluster is a driver information system that combines vital details, such as vehicle speed, traffic condition, and amount of fuel available, and displays it to ensure a safe drive. This instrument cluster system includes speedometer, illumination, fuel gauge, and warning indicators & pointers. Instrument cluster has become the key product differentiator for automotive original equipment manufacturers (OEMs) in recent years. The proliferating automotive industry is fueling the adoption of instrument clusters, as these driver information systems are witnessing increased adoption in a various vehicles that range from entry level to premium models. The growing penetration of instrument clusters in the ever evolving automotive industry pushed the market to value roughly US $ 9 Billion in 2018.
Instrument Cluster Market – Competitive Landscape
Robert Bosch GmbH
Established in 1886 & headquartered in Stuttgart, Germany, Robert Bosch GmbH operates as a subsidiary of Robert Bosch Stiftung Gmbh. The company offers technology and services across the world. Robert Bosch GmbH operates in four segments: industrial technology, mobility solutions, energy and building technology, and consumer goods, segments.
Founded in 1871, and headquartered in Hanover, Germany, Continental Aktiengesellschaft (AG) was formerly known as Continental-Caoutchouc- und Gutta-Percha Compagnie. Continentawl AG develops products, systems, and services for various industries worldwide, and operates through powertrain, tires, interior, chassis & safety, and ContiTech segments
Headquartered in Michigan, USA, Visteon Corporation is an American global automotive electronics supplier that spun off from the Ford Motor Company in 2000. Viseon Corporation provides automotive systems, modules, & components to vehicle manufacturers as well as the aftermarket industries. Visteon Corporation manufactures a wide range of products, such as electronics, interiors, climate control systems, and lighting, and serves customers worldwide.
Toshiba Electronic Devices & Storage Corporation
Founded on 2009, and based in Tokyo, Japan, Toshiba Electronic Devices & Storage Corporation is a subsidiary of Toshiba Corporation, and provides semiconductors. Toshiba Electronic Devices & Storage Corporation has an extensive product portfolio, including, storage products, MOSFETs, diodes, ASSPs, sensors, microcomputer products, & optical semiconductor devices, among others. The company provides services to various industries, mainly automotive, motor control, industrial, consumer electronic, and wireless communication markets worldwide.
Instrument Cluster Market Dynamics
Burgeoning Adoption of Hybrid Technology in Instrument Clusters Fueling their Sales
Shifting consumer preference for clearer and easy-to understand information display has been increasing adoption of hybrid technology in instrument cluster market. Automotive companies are increasingly incorporating hybrid instrument clusters for an a wide range of vehicles, including commercial vehicles, passenger cars, and two-wheelers, which in turn is driving growth in instrument cluster market. Furthermore, unprecedented growth in the sales of passenger and commercial vehicles is simultaneously fueling the adoption of hybrid instrument clusters across various vehicles.
Upward Demand for Instrument Cluster in Connected and Hybrid Cars Driving Market Growth
Burgeoning focus on technologies involved in developing a vehicle’s ability to connect with other devices and vehicles to enhance the overall driver experience is gaining significant traction in instrument cluster market. Furthermore, increased consumer awareness about the potential of advancing technology has been driving auto makers to adopt vehicle components that deliver enhanced driving experience. Consequently, automotive companies are incorporating advanced, wide & clear, and connected customizable instrument clusters to appeal to a wider consumer base. With manufactures increasingly investing in advancing technology, especially for high-end luxury cars, instrument cluster market is anticipated to witness positive changes in the forthcoming years.
Instrument Cluster Market – Segmentation
Based on application, instrument cluster market is segmented into:
Based on vehicle type, instrument cluster market is segmented into:
Based on technology, instrument cluster market is segmented into:
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