Global Instrument Cluster Market Forecast to 2030
The most recent market research report from Emergen Research, titled Global Instrument Cluster Market, provides an estimated market size and share as well as current industry trends, global market growth rates, significant drivers and opportunities, difficulties, product segmentation, and key market competitors. Pricing range, size of the market, degree of competition, product offerings and details, and business histories.
The global instrument cluster market size was USD 7.61 Billion in 2021 and is expected to register a revenue CAGR of 3.39% during the forecast period, according to the latest analysis by Emergen Research. The rising demand for automated and flexible instrument clusters is projected to support market revenue growth between 2021 and 2030. For example, as a scalable instrument cluster platform, Infineon has an unmatched offering. The broadest scalability is offered by the Traveo and Traveo II microcontroller product lines, which support virtual instrument clusters in addition to standard gauge instrument clusters and hybrid instrument clusters. The microcontroller’s graphics engine has the option of line-based operation, which reduces the amount of memory needed for graphics processing. Other products from Infineon, such as SemperFlash and HyperRAM, offer performance and density flexibility to satisfy the needs of various instrument cluster systems. Real-time graphics and quick access are both appropriate uses for these high-performance memory devices. In addition to reducing design costs, the low-pin count interface also minimizes Printed Circuit Boards (PCB) space and design complexity.
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The global Instrument Cluster industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Robert Bosch GmbH, Continental AG, YAZAKI Corporation, Visteon Corporation, Denso Corporation, Pricol Limited, Marelli Corporation, Nippon Seiki Co., Ltd., Infineon Technologies AG, LUXOFT, A DXC Technology Company, Parker Hannifin Corp., Panasonic Corporation
Research Report on the Instrument Cluster Market Addresses the Following Key Questions:
- Who are the dominant players of the Instrument Cluster market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Instrument Cluster market?
- What are the key growth drivers and restraining factors of the Instrument Cluster market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Instrument Cluster market and its key segments?
The report bifurcates the Instrument Cluster market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019–2030)
- Temperature Gauge
- Vehicle Type Outlook (Revenue, USD Billion; 2019–2030)
- Two wheeler
- Commercial Vehicles
- Passenger Cars
- Technology Outlook (Revenue, USD Billion; 2019–2030)
Regional Landscape section of the Instrument Cluster report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- The passenger cars segment accounted for the largest revenue share in 2021 due to the rapid adoption of SUVs across the globe. Integration of digital instrument clusters with advanced technologies in Electric Vehicles (EVs) is also contributing to market revenue growth. Multiple driving modes are possible in vehicles with complicated hybrid or electric systems, a digital cluster can continuously update data presented as the vehicle changes modes. By displaying specific information that the driver needs, instrument clusters can improve driving safety by reducing driver distraction. These factors are expected to drive revenue growth of the segment during the forecast period.
- The digital segment is expected to register a rapid revenue CAGR during the forecast period. Digital clusters give information for safe, convenient, and stress-free driving. They also provide information such as external temperature, charge or fuel level, trip mileage, and others.
- Asia Pacific market is expected to register the fastest revenue growth rate over the forecast period. China, India, and Japan all have growing automobile industries and rising interest in improving the consumer experience. Sales of automobiles have increased as a result of government support for the auto industry, increased manufacturing, lowered COVID-19 restrictions, and government subsidies.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Instrument Cluster market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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