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.
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Insights into market
segments
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.
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.
Europe reigns as the
largest automotive digital instrument cluster market
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.
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Competitive Landscape
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.
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