Automotive Digital Instrument Cluster Market Analysis | 2023-2028

Market Insights

The Automotive Digital Instrument Cluster Market was estimated at US$ 2.22 billion in 2022 and is expected to grow at a healthy CAGR of 19% during 2023-2028 to reach US$ 6.39 billion by 2028.

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What is the Automotive Digital Instrument Cluster?

An automotive digital instrument cluster, also known as a digital dashboard or digital gauge cluster, is a display panel in a vehicle that provides vital information to the driver. It replaces traditional analog gauges and dials with a digital screen that presents various vehicle data and metrics. This includes speed, fuel level, engine RPM, temperature, navigation directions, multimedia information, and other relevant data. Digital instrument clusters offer customizable layouts, high-resolution graphics, and advanced features like adaptive displays and integrated driver assistance systems. They enhance the driving experience, improve visibility, and provide real-time information for better control and safety on the road.

Market Dynamics

The automotive digital instrument clusters market is influenced by various factors that shape its dynamics. Here are some key aspects driving this market:

• Growing demand for advanced digital displays in vehicles: There is a rising demand for digital instrument clusters in automobiles due to their enhanced visual appeal and improved functionality compared to traditional analog gauges.

• Technological advancements driving improved functionality and user experience: Advancements in display technology, graphics processing, and software integration have resulted in digital instrument clusters with enhanced features, better readability, and customizable user interfaces.

• Integration with safety features, connectivity, and advanced driver assistance systems: Digital instrument clusters are integrated with safety features such as collision warnings, lane departure alerts, and adaptive cruise control. They also offer connectivity options for seamless integration with smartphones and other devices, providing access to navigation, media, and other applications.

• The electric vehicle market presents additional opportunities: The growing market for electric vehicles creates additional opportunities for digital instrument clusters, as these vehicles often require specialized displays to convey crucial information related to battery range, charging status, and energy consumption.

• Integration of advanced features like voice control and augmented reality overlays: Digital instrument clusters are evolving to incorporate advanced features such as voice control for hands-free operation and augmented reality overlays that provide real-time information on the windshield, enhancing the driving experience.

In conclusion, the market dynamics of automotive digital instrument clusters are driven by increasing demand, technological advancements, connectivity features, and the competitive landscape. Continual innovation and adaptation to evolving market needs are crucial for sustained growth in this sector.

Segments Analysis

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By Display Type

Based on the display type, the market is segmented as LCD, TFT-LCD, and OLED. LCD type is estimated to register the highest growth rate in the market during the forecast period owing to its lower price, quality, and also its installation in premium & luxury vehicles, fuelling the segment’s growth in the market.

By Display Size

Based on the display size, the market is segmented as 5-8 inches, 9-11 inches, and >12 inches. 9–11-inch display size is estimated to account for the major share of the market on account of its low manufacturing cost, easy availability of components, and its increasing implementation across a wide range of cars during the forecast period.

Regional Analysis

In terms of regions, Europe is estimated to witness significant growth in the market on account of growing production and consumption of luxury and high-end vehicles, which is also fuelling the growing demand for digital instrument clusters in these vehicles during the forecast period. The growing demand for these vehicles among European consumers can be attributed to the improved safety, driving comfort, and convenience features provided by them. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the key players in the automotive digital instrument cluster market are-

• Continental AG
• Denso Corporation
• Nippon Seiki Co., Ltd.
• Nvidia Corporation
• Panasonic
• Pricol Limited
• Robert Bosch GmbH
• Stoneridge Inc.
• Toshiba
• Visteon Corporation.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

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Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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