Digital Instrument cluster Market Growth Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

Digital instrument cluster or panel refers to a set of instrumentation. It comprises the speedometer, engine ROM, fuel meter among others displayed with digital information rather than the conventional analog scales. The instrument cluster is coming up with 3D and virtual display to show more complex readout. The increasing demand for the luxury, electric vehicle, advanced instrument cluster is fueling the market growth.

MARKET SCOPE

The "Global Digital instrument cluster Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the digital instrument cluster market with detailed market segmentation by application, vehicle type, embedded technology, and geography. The report provides key statistics on the market status of the leading digital instrument cluster market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on application, the global digital instrument cluster market is segmented into speedometer, odometer, tachometer and others.
  
•   On the basis of vehicle type, the market is segmented into passenger car, LCVs and M and HCVs.
  
•   Based on embedded technology, the global digital instrument cluster market is segmented into AI based digital instrument cluster and non-AI based digital instrument cluster.
  

MARKET DYNAMICS

Drivers:

•   The rise in the automobile production, reconfigurable cluster, growing demand for advanced cluster technology, changing consumer preference from analog to digital are driving the digital instrument cluster market.
  
•   An increase in the adoption of the autonomous & semi-autonomous vehicle and use of aluminum parts to make instrument clusters are providing opportunities for the digital instrument cluster market.
  

Restraints:

•   The rise in the price of clusters and also the level software capability is limited, and henceforth it is hindering the market growth.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The digital instrument cluster market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the digital instrument cluster market in these regions.

IMPACT OF COVID-19 ON DIGITAL INSTRUMENT CLUSTER MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the digital instrument cluster market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from digital instrument cluster market are anticipated to lucrative growth opportunities in the future with the rising demand for digital instrument cluster in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the digital instrument cluster market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Continental AG
  
•   Delphi Technologies
  
•   Denso Corporation
  
•   Magneti Marelli S.p.A
  
•   Nippon Seiki Co., Ltd.
  
•   Panasonic Automotive Systems Europe GmbH
  
•   Robert Bosch GmbH
  
•   Toshiba Electronic Devices and Storage Corporation
  
•   Visteon Corporation
  
•   Yazaki Corporation
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Digital Instrument cluster Report Scope