Key companies profiled are HARMAN International, Simco Ltd., Delphi Automotive LLP, Pricol Ltd., DENSO Corporation, Robert Bosch GmbH, Magneti Marelli S.p.A, Calsonic Kansei Corporation, Visteon Corporation, among others
PUNE, India, June 11, 2020 /PRNewswire/ — The global Instrument Cluster Market size is projected to reach USD 13.77 billion by 2026, exhibiting a CAGR of 8.4% during the forecast period. Increasing preference for digital dashboards among car buyers will be the central force pushing the growth of this market, finds Fortune Business Insights™ in its recent report, titled «Instrument Cluster Market Size, Share & Industry Analysis, By Cluster Type (Analog, Digital, and Hybrid), By Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle), and Regional Forecast, 2019-2026«.
Digital clusters have been swiftly replacing the conventional analog clusters in vehicles over the past decade. This change in consumer preference has opened up new areas of creativity for automakers as digitized dashboards can be made to look more sporty and attractive. For instance, in September 2018, BMW launched the revised version of its BMW Cockpit powered by the new BMW Operating System 7.0. The new features are designed to keep the driver fully informed of the car’s performance, with significant upgrades in the areas of gesture control and voice recognition. Thus, digitalization of instrument clusters in high-end cars is set to emerge as one of the top instrument cluster market trends in the coming years.
Browse Summary of This Research Report with Detailed Table of Content:
https://www.fortunebusinessinsights.com/automotive-instrument-cluster-market-102850
COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Get Sample PDF Brochure with «Short-Term and Long-Term Impact of COVID-19» on Instrument Cluster Industry,
Please Visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/automotive-instrument-cluster-market-102850
According to the report, the market value stood at USD 7.20 billion in 2018.
The report also shares the following information:
- Key insights into the major growth drivers of the market;
- Comprehensive overview of the industry trends and future outlook;
- Detailed assessment of the challenges facing the market; and
- Thorough research into the regional developments and competitive landscape of the market.
Market Driver
Development of Instrument Clusters for Electric Vehicles to Augment Market Potential
The International Energy Agency (IEA) revealed that deployment of electric vehicles (EVs) rose by an astonishing 63% in 2018 from 2017 levels, with the global EV fleet surpassing 5 million in 2018. Thus, the production of EVs is speedily catching up with demand. The increasing inclination toward EVs, mainly prompted by rising pollution and oil prices, is creating new growth avenues for automakers around the world. Many manufacturers are now designing and developing digital instrument clusters tuned to the requirements of an EV.
For instance, in November 2018, Visteon announced that it will be supplying instrument clusters for Renault’s new electric variant of its entry-level Kwid model. Integrated dashboards for EVs are critical because drivers need to know exactly how long the car battery will last, availability of the nearest battery recharge station, and software updates from the OEM. Thus, rising demand for EVs across the globe will fuel the market for specialized digital instrument clusters.
Regional Analysis
Asia-Pacific to Establish Commanding Hold on the Market; Europe to Grow Impressively
Asia-Pacific is anticipated to dominate the instrument cluster market share during the forecast period mainly owing to the surging demand for passenger cars in the burgeoning economies of India and China.
Moreover, China has become the largest market for electric vehicles, which is further propelling the market in the region. In addition to that, Japan is home some of the largest automakers in the world such as Toyota, which is likely to have a considerable impact on the market. The market size of Europe in 2018 stood at USD 1.43 billion and is expected to emerge as the second-largest region as a result of the strong presence of top carmakers such as Audi and Mercedes.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-instrument-cluster-market-102850
Competitive Landscape
Innovation-Centric Collaborations by Key Players to Spur Competition
According to the Instrument Cluster Market analysis, major competitors in this market are collaborating with other tech-driven companies to develop innovative cockpit solutions. Such joining of forces is enabling companies to expand their product portfolio and entrench their position in this market.
Industry Developments:
- June 2019: Continental AG, the German automotive technologist, partnered with the Silicon Valley Company Leia to develop an innovative 3D-based cluster display in vehicles called the ‘Natural 3D Lightfield Instrument Cluster’. Continental aims at taking human-machine interaction within vehicles to the next level as the new system enables more comfortable 3D depth perception and provides the driver will real-time information.
- September 2018: The American automotive electronics specialist Visteon Corporation’s SmartCore™ application made its debut in Daimler’s newest variant of the Mercedes A-Class. The state-of-the-art solution blends an intuitive and seamless human-machine interaction (HMI), allowing the driver to get a personalized driving experience through a smooth touchscreen display and steering-mounted controllers.
List of Key Players Covered in the Instrument Cluster Market Report are:
- HARMAN International
- Simco Ltd.
- Delphi Automotive LLP
- Pricol Ltd.
- DENSO Corporation
- Robert Bosch GmbH
- Magneti Marelli S.p.A
- Calsonic Kansei Corporation
- Visteon Corporation
- YAZAKI Corporation
- Continental AG
Quick Buy – Instrument Cluster Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102850
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Instrument Cluster Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cluster Type
- Analog
- Hybrid
- Digital
- Market Analysis, Insights and Forecast – By Vehicle Type
- PC
- LCV
- HCV
- EV
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/automotive-instrument-cluster-market-102850
Have a Look at Related Research Insight:
Automotive Exhaust System Market Size, Share & Industry Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Fuel Type (Gasoline, Diesel, Alternative Fuels (LPG, CNG, Others)), By Component Type (Manifold, Connector, Exhaust Pipe, Muffler), and Regional Forecast, 2019-2026
Electric Vehicle Market Size, Share & Industry Analysis, By Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2019-2026
Automotive Blind Spot Detection (BSD) System Market Size, Share & Industry Analysis, By Component Type (Ultrasonic, RADAR, Camera) By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2019-2026
Automotive Powertrain Electronics Market Size, Share & Industry Analysis, By Component Type (Electric Motor, Inverter, DC/DC Converter, Battery Management System, Cell Module Controller, On-Board Charger), By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2019-2026
Automotive Adaptive Cruise Control Market Size, Share & Industry Analysis, By Component Type (LiDAR, RADAR, Others) By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2019-2026
Clutch Disc Market for Automotive Size, Share & Industry Analysis, By Transmission Type (Manual Transmission, Automatic Transmission, Automated Manual Transmission, and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2019-2026
Automotive Catalytic Converter Market Size, Share & COVID-19 Impact Analysis, By Product Type (Two Way Oxidation, Three-Way Oxidation-Reduction, Diesel Oxidation Catalyst), By Material Type (Platinum, Palladium, and Rhodium) and By Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle) and Regional Forecasts, 2020-2027
Automotive Electronics Market Size, Share & Industry Analysis, By Application Type (Advanced Driver Assistance System (ADAS), Body Electronics, Power Electronics, and Infotainment), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle) and Regional Forecasts, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/automotive-instrument-cluster-market-9979
Image: https://mma.prnewswire.com/media/1179459/Instrument_Cluster_Market.jpg
Logo: https://mma.prnewswire.com/media/881202/Fortune_Business_Insights_Logo.jpg
