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Automotive Digital Instrument Cluster Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR45176
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The automotive digital instrument cluster market share is expected to increase by USD 2.84 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 25.33%.

This automotive digital instrument cluster market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive digital instrument cluster market segmentation by application (luxury vehicles and mid-segment vehicles) and geography (Europe, North America, APAC, South America, and MEA). The automotive digital instrument cluster market report also offers information on several market vendors, including Aptiv Plc, Continental AG, DENSO Corp., International Automotive Components Group SA, Marelli Holdings Co. Ltd., Nippon Seiki Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Visteon Corp. among others.

What will the Automotive Digital Instrument Cluster Market Size be During the Forecast Period?

Automotive Digital Instrument Cluster Market Size

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Automotive Digital Instrument Cluster Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The digital instrument cluster enhances the vehicle's interior notably driving the automotive digital instrument cluster market growth, although factors such as a sharp decline in automobile production and sales may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive digital instrument cluster industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Digital Instrument Cluster Market Driver

One of the key factors driving the digital instrument cluster market is it enhances the vehicle's interior. The automotive ecosystem is witnessing rapid expansion, which is characterized by the increased adoption of electronic and electrical content (and technologies) in modern vehicles. Automotive OEMs are continuously formulating unique selling propositions (USPs) to highlight competitive differentiation, as they release cost-competitive newer models in all segments (high-end, mid-level, and entry-level). Automotive OEMs cite that digital instrument clusters are prime product differentiators, and their visual appeal positively impacts the buying decision of prospective car buyers. Furthermore, the increase in in-vehicle connectivity over the past decade has pushed interior designers to direct their efforts toward the content and layout of the automotive instrument cluster. At the same time, they need to ensure minimum driver distraction by the instrument panel and cockpit. Hence, simplification of HMI interfaces inside the vehicle will be the key to increasing customers' willingness to pay for the enhanced features of an existing system like instrument clusters that are witnessing the transformation from analog to digital components.

Key Automotive Digital Instrument Cluster Market Trend

The development of superior graphic displays is another factor supporting the digital instrument cluster market growth in the forecast period.  The digital instrument cluster adopts sophisticated technology to provide the users the freedom to customize the information being displayed on the cluster. As a result, the global automotive digital instrument cluster market is one of the fastest-growing markets in automotive electronics, currently in third place in the global automotive electronics market. The sophisticated 2D and 3D graphic instrument clusters are increasingly becoming popular across the world. The vendors' zeal to continuously develop innovative products is driving the success of the digital instrument cluster in the automotive market. Furthermore, The digital instrument cluster vendors are significantly impacting the shift of a modern vehicle's cockpit from a traditional one to a fully digital one. The development of a superior graphic interface will be a crucial trend in the global automotive digital instrument cluster market during the forecast period.

Key Automotive Digital Instrument Cluster Market Challenge

    1.  

The sharp decline in automobile production and sales will be a major challenge for the digital instrument cluster market during the forecast period. Automotive production in other major automotive manufacturing countries, such as India, Japan, and the US, registered growth during 2017-2018. However, a slowdown in the growth rate of the sales of vehicles in 2019 is increasing the inventory cost for OEMs and compelling them to reduce or temporarily stop production. Furthermore, the increased use of alternative modes of transportation is decreasing the sales of vehicles in the US and Europe. In 2020, new car registrations in Europe dropped by 23.7%, or around 3 million vehicles, to 9.9 million units due to COVID-19-induced lockdowns and other restrictions. The presence of a strong network of public transportation is also posing a major threat to the sales of vehicles in Europe. The increased spending on the public transportation system by governments is driving a large number of potential buyers to postpone or cancel buying vehicles. Such factors that adversely affect automotive sales and production are reducing the demand for automotive components and parts, such as digital instrument clusters, in the global automotive market and are hampering the growth of the global automotive digital instrument cluster market.

This automotive digital instrument cluster market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive digital instrument cluster market as a part of the global auto parts and equipment market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive digital instrument cluster market during the forecast period.

Who are the Major Automotive Digital Instrument Cluster Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aptiv Plc
  • Continental AG
  • DENSO Corp.
  • International Automotive Components Group SA
  • Marelli Holdings Co. Ltd.
  • Nippon Seiki Co. Ltd.
  • Panasonic Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Visteon Corp.

 

This statistical study of the automotive digital instrument cluster market encompasses successful business strategies deployed by the key vendors. The automotive digital instrument cluster market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aptiv Plc - The company offers a 3D instrument cluster that uses multi-layer graphics technology to create a high-end, enhanced driving experience.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive digital instrument cluster market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Digital Instrument Cluster Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive digital instrument cluster market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global auto parts and equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

 

Which are the Key Regions for Automotive Digital Instrument Cluster Market?

Automotive Digital Instrument Cluster Market Share by Geography

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38% of the market’s growth will originate from Europe during the forecast period. Germany, France, Italy, Spain, and the UK are the key markets for the automotive digital instrument cluster market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The high presence of automotive OEMs will facilitate the automotive digital instrument cluster market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of the COVID-19 pandemic affected the growth of the automotive digital instrument cluster market in Europe, majorly due to the decline in the production and sales of automobiles in the region. However, the lifting of nationwide lockdowns in the last quarter of 2020 and the resumption of automotive manufacturing activities in Germany, Italy, and France resulted in a rapid increase in the sales of automotive components and accessories, including automotive digital instrument clusters. Hence, the regional market is likely to witness a V-shaped recovery during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Digital Instrument Cluster Market?

Automotive Digital Instrument Cluster Market Share

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The automotive digital instrument cluster market share growth by the luxury vehicles segments will be significant during the forecast period. The adoption of digital instrument clusters is highest in luxury vehicles. These vehicles are offered advanced systems in the fields of safety, comfort, and convenience, which include digital instrument clusters. Most of the digital instrument clusters in luxury cars are offered as standard fitment. Their increasing production and resulting sales are directly contributing to the growth of the luxury vehicles segment of the global automotive digital instrument cluster market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive digital instrument cluster market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Automotive Digital Instrument Cluster Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 25.33%

Market growth 2021-2025

USD 2.84 billion

Market structure

Fragmented

YoY growth (%)

16.21

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

North America at 38%

Key consumer countries

US, Germany, China, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aptiv Plc, Continental AG, DENSO Corp., International Automotive Components Group SA, Marelli Holdings Co. Ltd., Nippon Seiki Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Visteon Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Automotive Digital Instrument Cluster Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive digital instrument cluster market growth during the next five years
  • Precise estimation of the automotive digital instrument cluster market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive digital instrument cluster industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive digital instrument cluster market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03:Value chain analysis: Automotive components and accessories market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Luxury vehicles - Market size and forecast 2020-2025
      • Exhibit 17: Luxury vehicles - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Luxury vehicles - Year-over-year growth 2020-2025 (%)
    • 5.4 Mid-segment vehicles - Market size and forecast 2020-2025
      • Exhibit 19: Mid-segment vehicles - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Mid-segment vehicles - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 21: Market opportunity by Application

    6 Customer landscape

    • 6.1 Overview
      • Exhibit 22: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 Europe - Market size and forecast 2020-2025
      • Exhibit 25: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: Europe - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 29: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 38: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 39: Landscape disruption
          • Exhibit 40: Industry risks
        • 9.3 Competitive Scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 42: Market positioning of vendors
          • 10.3 Aptiv Plc
            • Exhibit 43: Aptiv Plc - Overview
            • Exhibit 44: Aptiv Plc - Business segments
            • Exhibit 45:Aptiv Plc - Key news
            • Exhibit 46: Aptiv Plc - Key offerings
            • Exhibit 47: Aptiv Plc - Segment focus
          • 10.4 Continental AG
            • 10.5 DENSO Corp.
              • Exhibit 52: DENSO Corp. - Overview
              • Exhibit 53: DENSO Corp. - Business segments
              • Exhibit 54:DENSO Corp. - Key news
              • Exhibit 55: DENSO Corp. - Key offerings
              • Exhibit 56: DENSO Corp. - Segment focus
            • 10.6 International Automotive Components Group SA
              • Exhibit 57: International Automotive Components Group SA - Overview
              • Exhibit 58: International Automotive Components Group SA - Product and service
              • Exhibit 59: International Automotive Components Group SA - Key offerings
            • 10.7 Marelli Holdings Co. Ltd.
              • Exhibit 60: Marelli Holdings Co. Ltd. - Overview
              • Exhibit 61: Marelli Holdings Co. Ltd. - Product and service
              • Exhibit 62:Marelli Holdings Co. Ltd. - Key news
              • Exhibit 63: Marelli Holdings Co. Ltd. - Key offerings
            • 10.8 Nippon Seiki Co. Ltd.
              • Exhibit 64: Nippon Seiki Co. Ltd. - Overview
              • Exhibit 65: Nippon Seiki Co. Ltd. - Business segments
              • Exhibit 66: Nippon Seiki Co. Ltd. - Key offerings
              • Exhibit 67: Nippon Seiki Co. Ltd. - Segment focus
            • 10.9 Panasonic Corp.
              • Exhibit 68: Panasonic Corp. - Overview
              • Exhibit 69: Panasonic Corp. - Business segments
              • Exhibit 70:Panasonic Corp. - Key news
              • Exhibit 71: Panasonic Corp. - Key offerings
              • Exhibit 72: Panasonic Corp. - Segment focus
            • 10.10 Robert Bosch GmbH
              • Exhibit 73: Robert Bosch GmbH - Overview
              • Exhibit 74: Robert Bosch GmbH - Business segments
              • Exhibit 75:Robert Bosch GmbH - Key news
              • Exhibit 76: Robert Bosch GmbH - Key offerings
              • Exhibit 77: Robert Bosch GmbH - Segment focus
            • 10.11 Samsung Electronics Co. Ltd.
              • Exhibit 78: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 79: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 80: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 81: Samsung Electronics Co. Ltd. - Segment focus
            • 10.12 Visteon Corp.
              • Exhibit 82: Visteon Corp. - Overview
              • Exhibit 83: Visteon Corp. - Business segments
              • Exhibit 84:Visteon Corp. - Key news
              • Exhibit 85: Visteon Corp. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 86: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 87: Research Methodology
                • Exhibit 88: Validation techniques employed for market sizing
                • Exhibit 89: Information sources
              • 11.4 List of abbreviations
                • Exhibit 90: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Automotive Digital Instrument Cluster market growth will increase by $2848.13 million during 2021-2025.
              The automotive digital instrument cluster market is expected to grow at a CAGR of 25.33% during 2021-2025.
              Technavio has segmented the automotive digital instrument cluster market by application (Luxury vehicles and Mid-segment vehicles) and geographic (Europe, North America, APAC, South America, MEA, Europe, North America, APAC, South America, and MEA).
              Aptiv Plc, Continental AG, DENSO Corp., International Automotive Components Group SA, Marelli Holdings Co. Ltd., Nippon Seiki Co. Ltd., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Visteon Corp. are a few of the key vendors in the automotive digital instrument cluster market.
              North America will register the highest growth rate of 38.05% among the other regions. Therefore, the automotive digital instrument cluster market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the automotive digital instrument cluster market growth are:
              • Digital instrument cluster enhances the vehicle's interior
              • Development of superior graphic display
              The automotive digital instrument cluster market vendors should focus on grabbing business opportunities from the luxury vehicles segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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