Automotive Instrument Cluster Market Scenario
The global automotive instrument cluster market 2023 is projected to expand owing to the increasing demand for electronic-driven instrument panels. There has been a surge in demand for electric vehicles which is estimated to propel the market demand. Moreover, the rise in demand for advanced driver assistance system (ADAS) in luxurious cars is likely to magnify the market size. Also, the increasing demand for electronic device cluster with 2D and 2D graphics system has amplified the demand for the instrument clusters.
Besides, the rising demand for superior quality instrument panels has augmented the demand for an innovative display to be deployed in the vehicle, which will lead to a rise in the growth of instrument cluster market in the forthcoming period. In addition, the increasing demand for customized instrument cluster will lead to the rise in market size during the assessment period. Nowadays, there has been a surge in demand for OEM manufacturers to develop products that are unique and are different in various aspects from their competitors. Besides, OEMs are attempting to deploy the instrument cluster with the smartphones to make a customized cluster for the customers.
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The evaluation carried out by MRFR displays the aftermath of the COVID-19 pandemic. Moreover, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.
Market Segmentation
· The worldwide automotive instrument cluster market 2020 can be segregated on Based on technology type, vehicle type, and region.
· Based on technology, the worldwide automotive instrument cluster market can be segregated into analogue, digital, and hybrid.
· Based on vehicle type, the worldwide automotive instrument cluster market can be segregated into passenger car and commercial vehicle.
· Based on the region, the worldwide automotive instrument cluster market can be segregated into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
Regional Analysis
The regional study of Europe, North America, Asia-Pacific, and the Rest of the World (RoW) has been carried out. According to the analysis by MRFR, the APAC has anticipated to reign the worldwide market during the review period. The rise in the manufacture of the automobile in APAC is dependent on the instrument cluster. Besides, emerging countries like India, Japan, and China are contributing considerably in market growth. As per the study, the APAC region is likely to witness an exponential growth in sales in the forthcoming period. Besides, the participating of government in the automotive sector is estimated to drive the market growth. Moreover, the emerging countries are taking initiatives to implement innovative policies and trade liberalization programs which will help in strengthening the market growth.
As per the analysis, the second most lucrative market is estimated to be North America. Among all nations, the U.S. is projected to make the most significant contribution in magnifying market size during the review period. On the other hand, the European region is anticipated to obtain a third position. The region is estimated to make stagnant growth in the automotive sector. Nations like the U.K. are likely to be an active participant in expanding the market.
However, the spread of COVID-19 is likely to change the market mechanism of various regions. Various markets have been affected significantly due to the observation of nationwide lockdown in various countries.
Key Players
The notable players of the global market are Mentor Graphics (U.S), Continental AG (Germany), Visteon (U.S), Qualcomm (U.S), Delphi (U.S), Bosch (Germany), Alpine Electronics (Japan), Japan Display Inc. (Japan) Denso (Japan), and Innolux (Taiwan).
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Automotive Instrument Cluster Companies
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