The digital instrument cluster market is valued at USD 1.44 Billion in 2016 and is projected to reach USD 6.60 Billion by 2025, at a CAGR of 19.15% during the forecast period.
Northbrook, IL -- (SBWIRE) -- 02/01/2018 -- The report "Digital Instrument Cluster Market for Automotive by Display Type (LCD, TFT-LCD, OLED), Display Size (5-8 inch, 9-11 inch, >12 inch), Embedded Technology (AI, Non-AI), Electric Vehicle Type, Vehicle Type (PC and CV), and Region - Global Forecast to 2025"
The digital instrument cluster market is projected to grow at a CAGR of 19.15% during the forecast period, from USD 1.62 Billion in 2017 to USD 6.60 Billion by 2025.
The digital instrument cluster market is primarily driven by the increasing sales of electric vehicles and luxury vehicles globally. Increasing demand for safety, convenience, and comfort is also expected to boost the digital instrument cluster market.
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Browse 76 market data Tables and 65 Figures spread through 166 Pages and in-depth TOC on "Digital Instrument Cluster Market for Automotive by Display Type (LCD, TFT-LCD, OLED), Display Size (5-8 inch, 9-11 inch, >12 inch), Embedded Technology (AI, Non-AI), Electric Vehicle Type, Vehicle Type (PC and CV), and Region - Global Forecast to 2025"
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9-11-inch display size to be the largest segment of the Digital Instrument Cluster Market owing to the increasing demand for aesthetics and advanced features in the instrument cluster
The 9-11 inch digital instrument cluster is estimated to be the largest and fastest growing market for digital instrument cluster during the forecast period. The Asia Pacific is estimated to register the highest growth for the 9-11 inch digital instrument cluster market. The market for 9-11 inch display size is larger than 5-8 inch owing to the increasing integration of new features in the instrument cluster, the rise in demand for a bigger display, increasing demand by OEMs and end-users, and demand for vehicle aesthetics.
Passenger car to be the largest segment in the digital instrument cluster market
The passenger car segment is estimated to dominate the digital instrument cluster market during the forecast period. The adoption of advanced technologies continues to be high for passenger cars due to the high production and sales of passenger cars worldwide in comparison to commercial vehicles. In order to cater to the high demand for safety, convenience, and comfort in the passenger car segment, advanced features are needed to be configured in the vehicles. Advanced features such as a multi-camera system and voice recognition system need advanced instrument cluster to project real-time video over the display. Also, OEMs are increasing the adoption of digital instrument cluster in the passenger car segment as a product differentiation strategy. For instance, Volvo's 2018 SUV model XC 40 will have a 12.3-inch TFT-LCD instrument cluster with information on car functions such as cruise control, trip calculator, and messages. Europe is estimated to be the largest digital instrument cluster market for passenger cars owing to increased production of luxury passenger vehicles.
Battery electric vehicle to be the largest market in the electric vehicle digital instrument cluster market
The report classifies the digital instrument cluster market by electric vehicle into BEV, FCEV, HEV, and PHEV. The digital instrument cluster market for battery electric vehicle (BEV) is estimated to be the largest market in the electric vehicle segment. Leading OEMs that are launching the BEV equipped with a digital instrument cluster in the Asia Pacific region are BYD, Nissan Geely, and Zotye. BYD E6, Nissan Note, Emgrand EC7, and Zotye Cloud 100 are some of the top-selling BEV models in the Asia Pacific region that are equipped with a digital instrument cluster.
TFT-LCD digital instrument cluster is estimated to be the largest digital instrument cluster market, by display type
The report classifies the digital instrument cluster market by display type into LCD, OLED, and TFT-LCD. The digital instrument cluster market for TFT-LCD is estimated to be the largest market in the display type segmentation. The demand for this display type is expected to grow with the decreasing prices of TFT-LCD and high compatibility of TFT-LCD for automotive applications. The TFT-LCD display type is available in 5-8 inch, 9-11 inch, and > 12-inch display size. Honda Civic, Audi A4, and Range Rover are a few examples of vehicles that have a TFT-LCD digital instrument cluster. In terms of volume, Europe is estimated to be the largest market for digital instrument cluster owing to the huge production of luxury vehicles and increasing demand for electric vehicles.
The digital instrument cluster market is dominated by a few global players. Some of the key manufacturers operating in the market are Bosch (Germany), Continental (Germany), Visteon (US), Delphi (UK), Denso (Japan), NVIDIA (US), Nippon Seiki (Japan), Panasonic (Japan), Magneti Marelli (Italy), and IAC Group (Luxembourg) to name a few.
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