Global Automotive Instrument Cluster Market 2017-2021
About Automotive Instrument Cluster
An instrument cluster is a display, which provides primary data of vehicle's status such as fuel level, speed, revolutions per minute (RPM), and warnings to the driver. It also consists of various displays, indicators, and warnings, such as speedometer, tachometer, odometer, turn side indicator, oil pressure gauge, fuel gauge. It also consists indicators for system malfunctions. Instrument clusters for passenger cars and commercial vehicles can be broadly classified into analog instrument clusters, hybrid instrument clusters, and digital instrument clusters.
Technavio’s analysts forecast the global automotive instrument cluster market to grow at a CAGR of 5.85% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive instrument cluster market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Instrument Cluster Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive instrument cluster market: Bosch, Continental, DENSO, Magneti Marelli, Nippon Seiki, and Visteon.
Other Prominent Vendors in the market are: Alpine Electronics, Delphi Automotive, Innolux, Japan Display, Luxoft, Mitsubishi Electric, QNX Software Systems, Renesas Electronics, Rightware, SHARP, and YAZAKI Europe.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advent of HUDs. HUD is used to project the information on the windscreen. Continental used technology for the first time in 2003. The information is displayed on the windscreen in the form of a color image, which provides comfort and safety to drivers. HUDs enhance safety as the driver will not have to take his or her eyes off the road as all the information such as speed, fuel level, traffic sign signals, speed limits, and navigation instructions and warning signals are displayed in the line of sight.”
According to the report, one driver in the market is reduced prices of TFT/LCD displays. In automobiles, the TFT/LCD shipments for instrument clusters are expected to grow to 50 million units in 2018. The price of TFT/LCD display has decreased, which is an advantage for the instrument cluster market. This provides an advantage to manufacturers owing to the reduced cost. OEMs are already investing in R&D to offer more hybrid and digital clusters to the consumers at a lower price. Customers are willing to pay more for better safety and control features with other features such as navigation safety, dashboard systems, and advanced audio controls.
Further, the report states that one challenge in the market is high cost pressures faced by OEMs. Automotive OEMs face immense cost pressure due to dynamic regulations that are imposed on several components within a vehicle. The automotive industry’s continuous growth in design, configurations, and technologies will increase the price of instrument clusters. The addition of fully reconfigurable and partially reconfigurable instrument clusters will increase the price of upcoming vehicles. The factors responsible for cost pressures faced by OEMs will include stringent emission norms, huge investments in R&D, market competition, and evolving customer demands.
Bosch, Continental, DENSO, Magneti Marelli, Nippon Seiki, Visteon, Alpine Electronics, Delphi Automotive, Innolux, Japan Display, Luxoft, Mitsubishi Electric, QNX Software Systems, Renesas Electronics, Rightware, SHARP, and YAZAKI Europe.