Albany, NY -- (SBWIRE) -- 08/10/2018 -- The automotive center cluster is the focal point of the driver for displaying critical information and vehicle system and status of the vehicle drive conditions. It includes gauges and segmented LCD displays for various parameters such as to communicate speed, tachometer, fuel level, battery voltage, oil pressure and engine temperature to the driver through displays and acoustical effects.
With the increased complexity of vehicle electronics, better functionality requires information to be displayed to the drivers. Automotive center clusters industry provides solutions for the perfect combination of design, feel, ergonomics and quality through electronics. Given the complexity, there's demand for more user-friendly, lucrative and cost effective solution which will support a wide range of automotive center cluster applications.
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Automotive Center clusters: Drivers & Restraints
Some of the major drivers contributing to the overall growth of the automotive Center clusters market include increasing consumer awareness regarding advanced technologies, increasing per capita income of consumers, growing demand for technically advanced cars, and changing demand for vehicle electronics from analog to digital. Advancements in technology have given rise to market competition owing to which major leading organizations are heavily investing in R&D activities.
However, complicated hardware and software designs and high expenditure in terms of manufacturing are challenges to the automotive Center clusters market. Growing interest in super cars and racing cars have also driven this market. The major challenge to look for in this market is designing of the products that have long product lifecycle.
The automotive industry has high reliability and safety standards to adhere to. The opportunities lie in investing in constant research and development as this segment is dominated by ever evolving technologies. The per capita car ownership has been on a continuous rise due to the worldwide increase in the middle-class population. According to the International Transport Forum of Organization for Economic Cooperation and Development (OECD), the number of cars worldwide would reach 2.5 billion by 2050.
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Automotive Center clusters: Market Segmentation
The Automotive Center clusters market is segmented into four parts based on the types, application, sales channel and geography. With the increased use in automobiles around the world and also consumers looking for more style, elegance and convenience in their vehicles, the manufacturers are constantly working on developing and producing new styles in their products which has been driving the automotive radiator grilles market.
Based on the type Automotive Center clusters market is segmented into:
Cluster Graphics Platform
Cluster Controller Platform
Combined Cluster Platform
Based on the application Automotive Center clusters market is segmented into:
Passenger Cars
Compact
Sedan
Premium
Luxury
Commercial Vehicle
Heavy Commercial Vehicle
Based on the sales channel Automotive Center clusters market is segmented into:
OEM
After Market
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Automotive Center clusters: Regional Outlook
Regarding geography, Automotive Center clusters market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Automotive Center clusters Market is expected to register healthy CAGR during the forecast period due to the high demand for automobiles. In terms of regions, Europe accounts for significant share for Automotive Center clusters Market, owing to the high growth and demand for automobiles in the region as compared to other developed regions.
North America region accounts for a healthy share in terms of automotive center clusters primarily used in automobiles. The passenger car in the region is anticipated to further add value to the Automotive Center clusters Market in the region. In terms of developing region of Asia-Pacific, the growth of the clusters is significantly high and with comparatively high CAGR in forecast period owed to factors such as such as rapid economic development, globalization and increasing demand of the clusters in the automotive industry and its sub-verticals.
In addition, Over the forecast period, Asia-Pacific market for is anticipated to grow significantly owing to the growth of automotive industry in the region. Overall, the global market for the cluster device is expected to grow significantly by the end of forecast period. Automotive Center clusters Market for MEA is also expected to witness rapid growth during the forecast period primarily attributed to the growth of the automotive market and increasing usage of the center clusters in GCC and South Africa.
Automotive Center clusters: Key Players
Few of the major players in the, market include, EDN, Texas Instruments, NXP, Mouser Electronics. These companies are being profited with the increase in sale of automobile across the globe.