Automotive Instrument Cluster Market Scenario
The global automotive instrument cluster market 2023 is projected to expand owing to the increasing
demand for electronic-driven instrument panels. There has been a surge in
demand for electric vehicles which is estimated to propel the market demand.
Moreover, the rise in demand for advanced driver assistance system (ADAS) in
luxurious cars is likely to magnify the market size. Also, the increasing
demand for electronic device cluster with 2D and 2D graphics system has
amplified the demand for the instrument clusters.
Besides, the rising demand for superior quality
instrument panels has augmented the demand for an innovative display to be
deployed in the vehicle, which will lead to a rise in the growth of instrument
cluster market in the forthcoming period. In addition, the increasing demand
for customized instrument cluster will lead to the rise in market size during
the assessment period. Nowadays, there has been a surge in demand for OEM
manufacturers to develop products that are unique and are different in various aspects
from their competitors. Besides, OEMs are attempting to deploy the instrument
cluster with the smartphones to make a customized cluster for the customers.
Get Free Sample Report of Automotive
Instrument Cluster Market
The evaluation carried out by MRFR displays the aftermath
of the COVID-19 pandemic. Moreover, a precise evaluation of factors augmenting
and impeding the market in the post-COVID-19 environment has been analyzed. We
will provide COVID-19 impact analysis with the report.
Market
Segmentation
·
The worldwide
automotive instrument cluster market 2020 can be segregated on Based on
technology type, vehicle type, and region.
·
Based on
technology, the worldwide automotive instrument cluster market can be
segregated into analogue, digital, and hybrid.
·
Based on
vehicle type, the worldwide automotive instrument cluster market can be
segregated into passenger car and commercial vehicle.
·
Based on the
region, the worldwide automotive instrument cluster market can be segregated
into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
Regional
Analysis
The regional study
of Europe, North America, Asia-Pacific, and the Rest of the World (RoW) has
been carried out. According to the analysis by MRFR, the APAC has anticipated
to reign the worldwide market during the review period. The rise in the
manufacture of the automobile in APAC is dependent on the instrument cluster.
Besides, emerging countries like India, Japan, and China are contributing
considerably in market growth. As per the study, the APAC region is likely to
witness an exponential growth in sales in the forthcoming period. Besides, the
participating of government in the automotive sector is estimated to drive the
market growth. Moreover, the emerging countries are taking initiatives to
implement innovative policies and trade liberalization programs which will help
in strengthening the market growth.
As per the analysis, the second most lucrative market is
estimated to be North America. Among all nations, the U.S. is projected to make
the most significant contribution in magnifying market size during the review
period. On the other hand, the European region is anticipated to obtain a third
position. The region is estimated to make stagnant growth in the automotive
sector. Nations like the U.K. are likely to be an active participant in
expanding the market.
However, the spread of COVID-19 is likely to change the
market mechanism of various regions. Various markets have been affected
significantly due to the observation of nationwide lockdown in various
countries.
Key
Players
The notable players of the global market are Mentor
Graphics (U.S), Continental AG (Germany), Visteon (U.S), Qualcomm (U.S), Delphi
(U.S), Bosch (Germany), Alpine Electronics (Japan), Japan Display Inc. (Japan)
Denso (Japan), and Innolux (Taiwan).
Read more:
Automotive
Instrument Cluster Companies
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