Instrument Cluster Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Instrument Cluster Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
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
- In January 2019, Yazaki introduced an instrument cluster with seamless appearance, enhanced display content visibility & better clarity to provide optimal driving experience. This launch has made Yazaki the first automotive supplier to use an optical coupling adhesive in instrument cluster design in a bid to provide a seamless display appearance.
- In November 2018, German multinational engineering & electronics company, Robert Bosch GmbH, launched the world’s first curved instrument cluster on the road. The new 1,500mm curved instrument cluster is highly customizable, with preference options for viewing the navigation maps, speedometer, and telephone list, among others.
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.
Continental AG
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
Visteon Corporation
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:
- Speedometer
- Odometer
- Tachometer
- Others (Temperature Gauge, Fuel Gauge, Oil Pressure Gauge)
Based on vehicle type, instrument cluster market is segmented into:
- Passenger Car
- Commercial
- Two-wheeler
- Agriculture
- Off-highway
Based on technology, instrument cluster market is segmented into:
- Analog
- Hybrid
- Digital
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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