Automotive Digital Instrument Cluster Market Drivers, Dynamics And Strategic Analysis, Challenges and Forecast

Automotive Digital Instrument Cluster Market Automotive Digital Instrument Cluster Market

The global automotive digital instrument cluster market size is projected to reach $6,590.2 million by 2023, according to P&S Intelligence.

The market growth is mainly driven by increasing sales of premium and electric cars. In addition, the growing penetration of in-vehicle safety features is expected to boost the market growth during the forecast period.

Industry trends indicate that by 2030, majority of the cars will have vehicle-to-infrastructure connectivity and vehicle-to-vehicle connectivity that will ensure better road and passenger safety. Digital instrument cluster improves safety by reducing distraction while driving, and displays safety-critical driver information centrally in the driver’s primary viewing range.

Insights into market segments

On the basis of display size, the market is segmented into 5-8 inch, 9-11 inch, and more than 12 inch categories. The screen size between 9-11 inches has been leading the automotive digital instrument cluster market in terms of share; however, more than 12 inch displays are expected to be the fastest growing category during the forecast period.

On the basis of car, the automotive digital instrument cluster market has been categorized into conventional and electric. The conventional car category (that uses only ICE engine) has been accounting for a larger share in the digital instrument cluster market, mainly due to greater sales of these cars than electric cars. However, the penetration of digital instrument clusters in electric car will increase at a faster during the forecast period, due to the growing government support for these cars. Apart from this, when compared to conventional cars, electric cars have more digital information to be displayed, such as electric charge and estimated miles, which makes digital instrument cluster more viable for these cars.

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Europe reigns as the largest automotive digital instrument cluster market

Globally, Europe has been sealing the largest share in the market, with an estimated revenue contribution of more than 40.0% in 2017. The sales of these instrument clusters are dependent on the sales of premium and electric cars, as these cars are generally installed with digital instrument clusters. Europe accounts for the largest share of premium car sales in the world, which only reinforces the high sales of automotive digital instrument clusters in the region.

The share of Asia-Pacific in the global digital instrument cluster sales has been low till now, as the number of premium cars sold in the region is still less compared to Europe and North America. However, the region is the largest electric car market in the world, which is projected to benefit the sales of digital instrument clusters in the region, in the coming years. Moreover, the growing sales of premium cars will also benefit the region’s automotive digital instrument cluster market during the forecast period. Apart from this, economic growth, increasing income levels, and rising government support for electric cars are expected to give impetus to the Asia-Pacific market, in the years to come.

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Competitive Landscape

The global automotive digital instrument cluster market is characterized by the dominance of international players such as Continental AG and Visteon Corporation, which have technological expertise in software and hardware for building digital instrument clusters. As software is a critical component for digital instrument cluster, many established players are collaborating with software companies to gain a competitive advantage in the market.

Some of the other major players in the automotive digital instrument cluster market include Magneti Marelli S.p.A, Robert Bosch GmbH, Delphi Automotive PLC, DENSO Corporation, Yazaki Corporation, Nippon Seiki Co. Ltd., NVIDIA Corporation, Panasonic Corporation, and Intel Corporation.

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