NEW YORK, April 26, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, global automotive digital instrument cluster market size is projected to reach $6,590.2 million by 2023, 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.
Request to get the sample pages at: https://www.psmarketresearch.com/market-analysis/automotive-digital-instrument-cluster-market/report-sample
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.
Browse report overview with 153 tables and 60 figures spread through 183 pages and detailed TOC on "Automotive Digital Instrument Cluster Market by Display Type (TFT-LCD, LCD, OLED), by Display Size (5-8 inch, 9-11 inch, >12 inch), by Car (Conventional, Electric [HEV, BEV, PHEV]), by Car Price (Premium, Medium), by Technology (AI, Non-AI), by Geography (U.S., Canada, China, Japan, South Korea, India, Germany, U.K., Italy, France, Russia, Brazil) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023"at:https://www.psmarketresearch.com/market-analysis/automotive-digital-instrument-cluster-market
On the basis of technology, the automotive digital instrument cluster market has been categorized into AI based and non-AI based instrument clusters. AI based digital instrument clusters have been accounting for higher sales till now, due to growing penetration of AI based features in premium cares, such as head-up displays and smart parking.
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.
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.
More Published Reports by P&S Market Research
Automotive HMI Market
In terms of revenue, premium cars have been the dominating end-use category in the automotive HMI market, followed by medium and economy cars. As the development cost for advanced HMI systems is high, they majorly get installed in luxury vehicles. Also, as luxury vehicles are highly priced, their market revenues are higher even if their volume sales are lesser than mid-priced cars.
https://www.psmarketresearch.com/market-analysis/automotive-hmi-market
Connected Car Market
Automotive players are entering in strategic alliances with technology providers to combine their expertise and offer best in class connected car solutions and compete with peers. For instance, Honda Cars India recently tied up with IBM, leading to a collaboration between IBM Watson IoT and Honda Connect. Honda, an automobile manufacturer in the region, aims to enhance its existing Honda Connect platform using Watson IoT and offer its customers with new features around service booking, convenience, safety and security.
https://www.psmarketresearch.com/market-analysis/connected-car-market
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com