DUBLIN--(BUSINESS WIRE)--The "Digital Instrument Cluster Market for Automotive by Display Type (LCD, TFT-LCD, OLED), Display Size (5-8 inch, 9-11 inch, >12 inch), Embedded Technology (AI, Non-AI), Electric Vehicle Type, Vehicle Type (PC and CV) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The digital instrument cluster market is projected to grow at a CAGR of 19.15% during the forecast period and is estimated to grow from US$1.62 billion in 2017 to US$6.60 billion by 2025.
The key factors driving the digital instrument cluster market are the increasing demand for luxury vehicles and electric vehicles, growing demand for advanced cluster technology by OEMs, and intense competition between manufacturers. The increasing acceptance of semi-autonomous and autonomous vehicle technology, and increasing demand for reconfigurable instrument clusters will further boost the demand for the digital instrument cluster market. Owing to these factors, there has been a steady increase in the use of a digital instrument cluster, particularly in electric vehicles and luxury vehicles.
Europe is estimated to be the largest market for digital instrument clusters during the forecast period, followed by North America and the Asia Pacific. Factors such as the high proportion of passenger vehicles in total vehicle production and growing demand for luxury vehicles and electric vehicles are expected to drive the digital instrument cluster market in Europe. The penetration of the digital instrument cluster in passenger vehicles in Europe is expected to range between 26% and 36% in 2017, and is expected to reach 40% to 58% by 2025. The growth can be attributed to the high production capacity of luxury vehicles and the demand-supply equilibrium of the digital instrument cluster market.
- Rising Demand for Electric Vehicles
- Growing Demand for Advanced Cluster Technology by OEMs
- Increasing Demand for Luxury Vehicles
- Intense Competition Between Instrument Cluster Manufacturers
- Increasing Acceptance of Semi-Autonomous and Autonomous Vehicle Technology
- Use of Aluminum Parts to Make Digital Instrument Clusters
- Increasing Demand for Reconfigurable Instrument Clusters
- Technical Challenges
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Digital Instrument Cluster Market, by Display Type
7 Digital Instrument Cluster Market, by Display Size
8 Digital Instrument Cluster Market, by Vehicle Type
9 Digital Instrument Cluster Market, by Embedded Technology
10 Digital Instrument Cluster Market, by Electric Vehicle
11 Digital Instrument Cluster Market, by Region
12 Competitive Landscape
13 Company Profiles
- IAC Group
- Magneti Marelli
- Nippon Seiki
- Spark Minda
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