The global digital instrument cluster market is estimated to exhibit growth at a robust CAGR over the forecast period 2022 to 2032. Increasing applications of digital instrument clusters across passenger cars and commercial vehicles for displaying sets of instrumentation such as speedometers is favoring the demand in the market. Driven by this, the sales of digital instrument clusters in the automotive industry are expected to total US$ 10.5 Billion by 2032, rising at a remarkable CAGR of 20% between 2022 and 2032.
| Report Attribute | Details |
|---|---|
| Digital Instrument Cluster for Automotive Market Value (2032) | US$ 10.5 Billion |
| Digital Instrument Cluster in Automotive Market CAGR (2022 to 2032) | US$ 20% CAGR |
Digital instrument clusters are displays that are used to express the measuring quantity of devices such as speedometers, frequency meters, voltmeters, and others in a numeric format. These displays enable appliances and machines such as smartphones, laptops, digital cameras, inverters, and automotive vehicles to present a wide variety of information on a single digital platform.
These instrument clusters with digital displays are increasingly gaining popularity as an alternative to electromechanical pointer instruments, owing to their ability to show precise and accurate measurements in numeric format. On account of this, the sales of digital instrument clusters are estimated to register rapid growth in the market over the forthcoming years.
With an increasingly tech-savvy population and intensifying competition across the automotive industry, leading manufacturers are emphasizing launching advanced automotive vehicles with innovative features. For instance, in 2021, Honda, a Japanese public multinational conglomerate automobile manufacturer, announced launching its new NS100Q scooter with innovative features such as a fully digital instrument cluster. Such developments and product launches are expected to augment the demand for digital instrument clusters in the market.
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With growing consumer preference towards comfortable travel and increasing per capita income of the population, a significant rise in production and sales of automotive vehicles is being witnessed across the globe, resulting in creating strong demand for associated devices.
For instance, according to the Bureau of Transportation Statistics, nearly 1.92 Million and 2.56 Million units of passenger cars were manufactured and sold, respectively, across the USA in 2020. As digital instrument clusters are increasingly used in modern vehicles to guide the driver by providing precise information about vehicle parameters and functions, accelerating sales of automobiles is projected to create lucrative opportunities for growth in the market.
Numerous automotive vehicle manufacturers are increasingly shifting their preference from analog instrument clusters towards deploying digital ones, owing to their favorable attributes such as better user interactivity, visibility, and larger display. In addition, the increasing introduction of novel devices integrated with innovative technologies such as artificial intelligence (AI) is expected to augment digital instrument cluster demand in the market.
Although there are several advantages of adopting digital instrument clusters, high sensitivity to temperature & moisture, frequent lags, and errors due to refresh rate are factors hindering the sales of digital instrument clusters in the market.
These devices are made of very delicate elements, making them highly susceptible to variations in atmospheric conditions. Hence, several original equipment manufacturers' (OEMs) are increasingly adopting analog instrument clusters for devices such as inverters, payment terminals, and power supply equipment, due to their low cost as compared to digital instrument clusters, which is in turn, hampering the growth in the market.
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As per FMI, Asia Pacific excluding Japan is projected to exhibit rapid growth in the global digital instrument cluster market between 2022 and 2032.
A significant rise in laptop and smartphone penetration is being witnessed, especially across the countries such as China, India, South Korea, Australia, and others, owing to the growing usage of the internet and the increasing gamer population. For instance, according to a report by the India Brand Equity Foundation, smartphone shipments across India totaled 173 million in terms of units in the year 2021, exhibiting more than 14% growth in comparison to 2020.
With this rise in smartphone adoption and the advent of upcoming 5G technology, numerous smartphone manufacturers are increasingly focusing on launching novel smartphones with innovative features such as digital instrument clusters. This is expected to facilitate the growth in the digital instrument cluster market across the Asia Pacific excluding Japan.
Future Market Insights states that North America is estimated to account for a significant share of the global digital instrument cluster market over the forecast period 2022 to 2032.
With the increasing demand for advanced measurement displaying devices across industries such as consumer electronics and automotive, several players in the market are aiming at developing and launching novel instrument clusters to capitalize on the existing opportunity.
For instance, in 2021, BlackBerry Limited, a Canadian software company announced entering into collaboration with BiTECH Automotive (Wuhu) Co., Ltd to develop a new digital LCD cluster with an integrated QNX® Neutrino® Realtime Operating System (RTOS). A multiplicity of such new product launches are expected to bolster the demand for digital instrument clusters in the North American market.
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Some of the leading players in the digital instrument cluster market are Panasonic Corporation, Robert Bosch Gmb, Nvidia Corporation, BMW, Denso Corporation, IAC Group, Magneti Marelli S.p.A., ID4Motion, Nippon Seiki Company Ltd., Luxoft, Visteon Corporation.
Attributed to the presence of such a high number of participants and growing emphasis on the development and launch of advanced digital instrument clusters, the market is highly competitive.
| Report Attribute | Details |
|---|---|
| Growth Rate in Automotive Sector | CAGR of 20% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Countries Covered |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the sales of digital instrument clusters across the automotive sector will expand at 20% value CAGR by 2032
The global digital instrument cluster market is expected to be dominated by Asia Pacific excluding Japan over the forecast period 2022 to 2032.
Panasonic Corporation, Robert Bosch Gmb, Nvidia Corporation, BMW, Denso Corporation, IAC Group, Magneti Marelli S.p.A., ID4Motion, Nippon Seiki Company Ltd., Luxoft, and Visteon Corporation some of the leading players in the prominent digital instrument cluster market.
1. Executive Summary | Digital Instrument Clusters Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2022 to 2032 5.3.1. Partially Reconfigurable 5.3.2. Fully Reconfigurable 5.4. Y-o-Y Growth Trend Analysis By Type, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Type, 2022 to 2032 Deep-dive segmentation will be available in the sample on request 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Display 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Display, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Display, 2022 to 2032 6.3.1. 2D 6.3.2. Hybrid (2D & 3D) 6.4. Y-o-Y Growth Trend Analysis By Display, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Display, 2022 to 2032 Deep-dive segmentation will be available in the sample on request 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2017 to 2021 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2022 to 2032 7.3.1. Transportation 7.3.2. Industrial Devices 7.3.3. Consumer Electronics 7.3.4. Healthcare Devices 7.3.5. Other Applications 7.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2021 7.5. Absolute $ Opportunity Analysis By Application, 2022 to 2032 Deep-dive segmentation will be available in the sample on request 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. East Asia 8.3.5. South Asia & Pacific 8.3.6. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Type 9.2.3. By Display 9.2.4. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Display 9.3.4. By Application 9.4. Key Takeaways 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Mexico 10.2.1.2. Brazil 10.2.1.3. Rest of Latin America 10.2.2. By Type 10.2.3. By Display 10.2.4. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Display 10.3.4. By Application 10.4. Key Takeaways 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. Italy 11.2.1.3. France 11.2.1.4. United Kingdom 11.2.1.5. Spain 11.2.1.6. BENELUX 11.2.1.7. Russia 11.2.1.8. Rest of Europe 11.2.2. By Type 11.2.3. By Display 11.2.4. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Display 11.3.4. By Application 11.4. Key Takeaways 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.2. By Type 12.2.3. By Display 12.2.4. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Display 12.3.4. By Application 12.4. Key Takeaways 13. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. India 13.2.1.2. ASEAN 13.2.1.3. Australia and New Zealand 13.2.1.4. Rest of South Asia & Pacific 13.2.2. By Type 13.2.3. By Display 13.2.4. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Display 13.3.4. By Application 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. Turkey 14.2.1.3. South Africa 14.2.1.4. Rest of Middle East and Africa 14.2.2. By Type 14.2.3. By Display 14.2.4. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By Display 14.3.4. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2021 15.1.2.1. By Type 15.1.2.2. By Display 15.1.2.3. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2021 15.2.2.1. By Type 15.2.2.2. By Display 15.2.2.3. By Application 15.3. Mexico 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2021 15.3.2.1. By Type 15.3.2.2. By Display 15.3.2.3. By Application 15.4. Brazil 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2021 15.4.2.1. By Type 15.4.2.2. By Display 15.4.2.3. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2021 15.5.2.1. By Type 15.5.2.2. By Display 15.5.2.3. By Application 15.6. Italy 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2021 15.6.2.1. By Type 15.6.2.2. By Display 15.6.2.3. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2021 15.7.2.1. By Type 15.7.2.2. By Display 15.7.2.3. By Application 15.8. United Kingdom 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2021 15.8.2.1. By Type 15.8.2.2. By Display 15.8.2.3. By Application 15.9. Spain 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2021 15.9.2.1. By Type 15.9.2.2. By Display 15.9.2.3. By Application 15.10. BENELUX 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2021 15.10.2.1. By Type 15.10.2.2. By Display 15.10.2.3. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2021 15.11.2.1. By Type 15.11.2.2. By Display 15.11.2.3. By Application 15.12. China 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2021 15.12.2.1. By Type 15.12.2.2. By Display 15.12.2.3. By Application 15.13. Japan 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2021 15.13.2.1. By Type 15.13.2.2. By Display 15.13.2.3. By Application 15.14. South Korea 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2021 15.14.2.1. By Type 15.14.2.2. By Display 15.14.2.3. By Application 15.15. India 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2021 15.15.2.1. By Type 15.15.2.2. By Display 15.15.2.3. By Application 15.16. ASIAN 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2021 15.16.2.1. By Type 15.16.2.2. By Display 15.16.2.3. By Application 15.17. Australia and New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2021 15.17.2.1. By Type 15.17.2.2. By Display 15.17.2.3. By Application 15.18. GCC Countries 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2021 15.18.2.1. By Type 15.18.2.2. By Display 15.18.2.3. By Application 15.19. Turkey 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2021 15.19.2.1. By Type 15.19.2.2. By Display 15.19.2.3. By Application 15.20. South Africa 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2021 15.20.2.1. By Type 15.20.2.2. By Display 15.20.2.3. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Type 16.3.3. By Display 16.3.4. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Audi AG 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. BMW AG 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Continental 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Dakota Digital 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Ford Motor Company 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Jaguar Land Rover Limited 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Luxoft Holding, Inc 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Nippon Seiki Co. Ltd. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. NVIDIA Corporation 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. QNX Software Systems Limited 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 17.1.11. Renesas Electronics 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.11.5.2. Product Strategy 17.1.11.5.3. Channel Strategy 17.1.12. Rightware 17.1.12.1. Overview 17.1.12.2. Product Portfolio 17.1.12.3. Profitability by Market Segments 17.1.12.4. Sales Footprint 17.1.12.5. Strategy Overview 17.1.12.5.1. Marketing Strategy 17.1.12.5.2. Product Strategy 17.1.12.5.3. Channel Strategy 17.1.13. Stone Ridge 17.1.13.1. Overview 17.1.13.2. Product Portfolio 17.1.13.3. Profitability by Market Segments 17.1.13.4. Sales Footprint 17.1.13.5. Strategy Overview 17.1.13.5.1. Marketing Strategy 17.1.13.5.2. Product Strategy 17.1.13.5.3. Channel Strategy 17.1.14. Varroc Group 17.1.14.1. Overview 17.1.14.2. Product Portfolio 17.1.14.3. Profitability by Market Segments 17.1.14.4. Sales Footprint 17.1.14.5. Strategy Overview 17.1.14.5.1. Marketing Strategy 17.1.14.5.2. Product Strategy 17.1.14.5.3. Channel Strategy 17.1.15. Visteon Corporation 17.1.15.1. Overview 17.1.15.2. Product Portfolio 17.1.15.3. Profitability by Market Segments 17.1.15.4. Sales Footprint 17.1.15.5. Strategy Overview 17.1.15.5.1. Marketing Strategy 17.1.15.5.2. Product Strategy 17.1.15.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Digital Instrument Clusters Market
