Automotive Instrument Cluster Market Size, Share, Growth Analysis, By Cluster type.(analog, digital and hybrid), By Vehicle Type(passenger cars, light commercial vehicle, heavy commercial vehicle and electric vehicle), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25A2057 | Region: Global | Published Date: February, 2024
Pages: 263 |Tables: 62 |Figures: 75

Automotive Instrument Cluster Market Insights

Global Automotive Instrument Cluster Market size was valued at USD 2.76 billion in 2021 and is poised to grow from USD 2.98 billion in 2022 to USD 5.92 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).

The instrument cluster is the primary data source for the driver, providing information on the vehicle's various operational parameters. It sends vehicle data such as speed, fuel level, tachometer, and temperature, as well as data from the in-vehicle network, cameras, and multimedia. Cluster graphics platform for displaying graphics data on a display, cluster controller platform for handling AUTOSAR stack functionality, and integrated cluster platform that combines graphics controller and real-time application controller capability. The purpose of the instrument cluster is to provide the driver with the most up-to-date information while driving. Gauges are used to measure speed, distance, heat, and fuel. Indicator lights that provide warnings and updates include the check engine light and the low fuel light. Different alerts are available for various vehicles. In most cases, the gauges in the instrument cluster are circular and backlit. On the driver's side of the dashboard, directly in front of the steering wheel, you'll find the speedometer, fuel gauge, tachometer, and odometer. The speedometer displays the current speed of the vehicle. The fuel gauge displays the amount of gas remaining in your tank. The tachometer indicates how fast the crankshaft of the engine is spinning. The odometer displays the vehicle's distance travelled.

Global vehicle production and sales growth, as well as advancements in infotainment systems, drive market growth. However, price fluctuations in raw materials such as chips, ICS, and displays, as well as higher costs associated with digital instrument clusters, are impeding market growth. These constraints can be overcome by technological advancements such as the release of an automotive instrument cluster with a new and advanced screen, as well as biometric features, which are expected to present numerous market expansion opportunities.

US Automotive Instrument Cluster Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2023-2030

Global Market Size

USD 2.76 billion

Largest Segment

Digital

Fastest Growth

Digital

Growth Rate

8% CAGR

Global Automotive Instrument Cluster Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Automotive Instrument Cluster Market Segmental Analysis

Global automotive instrument cluster market is segmented based on the cluster type, vehicle type and region. Based on cluster type, the Automotive Instrument Cluster Market is segmented into analog, digital and hybrid. Based on vehicle Type, the Automotive Instrument Cluster Market is segmented into passenger cars, light commercial vehicle, heavy commercial vehicle and electric vehicle. Based on Region Automotive Instrument Cluster Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Automotive Instrument Cluster Market Analysis by Cluster Type

Based on Age group, the hybrid segment is expected to dominate the digital instrument cluster market share During the forecast period. The hybrid system is a combination of digital and analogue displays that displays information such as speed, fuel economy, mileage, and temperature in both formats. The analogue system includes a speedometer and an odometer, whereas the digital display system includes an LCD screen that displays all relevant information such as temperature, distance travelled, traffic data, and other warning indicators. During the forecast period, the digital system is expected to dominate the market.

Automotive Instrument Cluster Market Analysis by Vehicle Type

Based on vehicle type, the passenger car segment is expected to dominate the market During the forecast period. The market is dominated by entry-level and mid-sized cars in the passenger car segment. Furthermore, rising urbanisation, a high population rate, an improved standard of living, and an increase in people's disposable income are driving up sales and production of passenger cars, ultimately increasing global demand for passenger cars.

Global Automotive Instrument Cluster Market By Cluster Type

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Automotive Instrument Cluster Market Regional Insights

Asia Pacific currently holds the largest market share and is expected to continue to do so throughout the forecast period. India, China, and Japan are some of the major countries driving market growth in this region. Government initiatives for the automotive industry in various developing countries such as India and China are ultimately contributing to the growth of the Asia-Pacific market.

Europe, the market's second-largest region, which is expected to grow significantly over the forecast period. Because of the presence of prominent luxury car manufacturers such as Audi, BMW, and Mercedes Benz, the hybrid and digital segments are more dominant in this region. Because of the country's rapid adoption of advanced technologies and development in the automotive industry, the United States dominates the region. Furthermore, the presence of key players in North American countries is expected to provide the market with significant opportunities.

Global Automotive Instrument Cluster Market By Region
  • Largest
  • Fastest

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Automotive Instrument Cluster Market Dynamics

Automotive Instrument Cluster Market Drivers

Increase Demand for Electric Vehicles will Bolster Demand for Automotive Instrument Cluster

  • The rapid growth in electric vehicle sales is expected to contribute to the growth of the digital type instrument cluster market. Superior graphic displays in digital instrument clusters are being used by manufacturers to improve the user experience. These displays, for example, provide constant information about the distance until the next charge, charged batteries, and other important information. Advanced graphic digital systems are gaining market traction as part of the development. The graphic display enhances the look of the display and dashboard by making features more visible. Improvements in the resolution and size of automobile LCDs and LEDs are expected to drive up demand for digital systems in order to meet the growing demand for highly visible design on a large screen. As a result, the demand for superior graphics displays is a key driver for market growth.
  • Increasing Preference for Digital Solutions Drive the Market. Traditional automobile solutions are being transformed by manufacturers into all-digital solutions. As a result, consumers are becoming more interested in digital solutions for vehicle interiors. Manufacturers are focusing on developing digital systems for both entry-level vehicles and luxury vehicles. Digital systems are becoming more popular as a result of advancements in cluster technology such as rich graphics, retina-class resolution, photorealistic rendering, and smartphone integration. Manufacturers of digital systems are working on a variety of solutions and new features with varying capabilities for consumers and markets.

Automotive Instrument Cluster Market Restraints

High Cost to Hinder Market Growth

  • The high cost of digital systems is the primary impediment to the market's growth. The high cost of display, integrated circuits, and maintenance may inhibit market growth. Another issue affecting market growth around the world is the rising threat of cyber attack on digital devices in vehicles.

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Automotive Instrument Cluster Market Competitive Landscape

automotive instrument cluster market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. Visteon Corporation, Continental AG, Robert Bosch GmbH, and DENSO Corporation dominate the competition landscape in this market. The key factors responsible for their dominance are a diverse product portfolio and constant improvements by these companies, which result in new product introductions.

Automotive Instrument Cluster Market Top Player's Company Profiles

  • Bosch Limited
  • Continental AG
  • Delphi Technologies
  • Denso Corporation
  • Magneti Marelli S.p.A.
  • Visteon Corporation
  • Yazaki Corporation
  • Mitsubishi Electric Corporation
  • Nippon Seiki Co. Ltd.
  • IAC Group
  • Faurecia SA
  • Johnson Controls International plc
  • Aptiv PLC
  • Marelli Holdings Co., Ltd.
  • Calsonic Kansei Corporation
  • Smiths Group plc
  • Stoneridge, Inc.
  • Jabil Inc.
  • Hyundai Mobis Co., Ltd.
  • Luxoft Holding, Inc.

Automotive Instrument Cluster Market Recent Developments

  • In September 2022, The "System on Chip" (SoC) semiconductors, which are increasingly employed in control units for the automobile sector, are a growing area of competence for Bosch.
  • In August 2022, Simco-Ion introduced Sensor Priority with the Release of V7.5 Control Station.

Automotive Instrument Cluster Key Market Trends

  • Traditional analogue clusters are giving way to advanced digital clusters in systems. Digitization in the automotive sector is expected to drive global automotive instrument cluster market trends due to the rapid adoption of innovative technologies. As there is a growing demand for sporty and appealing digital instrument clusters, various manufacturers are implementing new technologies to give these clusters a sporty and appealing appearance. Audi, BMW, Aston Martin, Mercedes-Benz, and Ferrari have installed digital clusters in their vehicles because these clusters have become an integral component of the vehicles. Furthermore, people's growing preference for luxury, convenience, and stress-free driving is propelling the global growth of the digital type automotive instrument cluster industry.

Automotive Instrument Cluster Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our automotive instrument cluster market analysis, the adoption of new technology, a high demand for electronic-driven instrument panels and a preference for digital solutions are driving the market growth. Moreover, Globalization and industrialization are two of the most challenging factors driving market development. Whereas, The rising cost of digital devices and displays, as well as integration costs are deteriorating the market growth. And A rise in navigation rate, improvement in driving mode, and rise in energy flow rate have offered some of the opportunities for propelling up the market size.

Report Metric Details
Market size value in 2021 USD 2.76 billion
Market size value in 2030 USD 5.92 billion
Growth Rate 8%
Base year 2023
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Cluster type.
    • analog, digital and hybrid
  • Vehicle Type
    • passenger cars, light commercial vehicle, heavy commercial vehicle and electric vehicle
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Bosch Limited
  • Continental AG
  • Delphi Technologies
  • Denso Corporation
  • Magneti Marelli S.p.A.
  • Visteon Corporation
  • Yazaki Corporation
  • Mitsubishi Electric Corporation
  • Nippon Seiki Co. Ltd.
  • IAC Group
  • Faurecia SA
  • Johnson Controls International plc
  • Aptiv PLC
  • Marelli Holdings Co., Ltd.
  • Calsonic Kansei Corporation
  • Smiths Group plc
  • Stoneridge, Inc.
  • Jabil Inc.
  • Hyundai Mobis Co., Ltd.
  • Luxoft Holding, Inc.
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Automotive Instrument Cluster Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Automotive Instrument Cluster Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Automotive Instrument Cluster Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Instrument Cluster Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Instrument Cluster Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Automotive Instrument Cluster Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Automotive Instrument Cluster Market size was valued at USD 2.76 billion in 2021 and is poised to grow from USD 2.98 billion in 2022 to USD 5.92 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).

automotive instrument cluster market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. Visteon Corporation, Continental AG, Robert Bosch GmbH, and DENSO Corporation dominate the competition landscape in this market. The key factors responsible for their dominance are a diverse product portfolio and constant improvements by these companies, which result in new product introductions. 'Bosch Limited', 'Continental AG', 'Delphi Technologies', 'Denso Corporation', 'Magneti Marelli S.p.A.', 'Visteon Corporation', 'Yazaki Corporation', 'Mitsubishi Electric Corporation', 'Nippon Seiki Co. Ltd.', 'IAC Group', 'Faurecia SA', 'Johnson Controls International plc', 'Aptiv PLC', 'Marelli Holdings Co., Ltd.', 'Calsonic Kansei Corporation', 'Smiths Group plc', 'Stoneridge, Inc.', 'Jabil Inc.', 'Hyundai Mobis Co., Ltd.', 'Luxoft Holding, Inc.'

The rapid growth in electric vehicle sales is expected to contribute to the growth of the digital type instrument cluster market. Superior graphic displays in digital instrument clusters are being used by manufacturers to improve the user experience. These displays, for example, provide constant information about the distance until the next charge, charged batteries, and other important information. Advanced graphic digital systems are gaining market traction as part of the development. The graphic display enhances the look of the display and dashboard by making features more visible. Improvements in the resolution and size of automobile LCDs and LEDs are expected to drive up demand for digital systems in order to meet the growing demand for highly visible design on a large screen. As a result, the demand for superior graphics displays is a key driver for market growth.

Traditional analogue clusters are giving way to advanced digital clusters in systems. Digitization in the automotive sector is expected to drive global automotive instrument cluster market trends due to the rapid adoption of innovative technologies. As there is a growing demand for sporty and appealing digital instrument clusters, various manufacturers are implementing new technologies to give these clusters a sporty and appealing appearance. Audi, BMW, Aston Martin, Mercedes-Benz, and Ferrari have installed digital clusters in their vehicles because these clusters have become an integral component of the vehicles. Furthermore, people's growing preference for luxury, convenience, and stress-free driving is propelling the global growth of the digital type automotive instrument cluster industry.

Asia Pacific currently holds the largest market share and is expected to continue to do so throughout the forecast period. India, China, and Japan are some of the major countries driving market growth in this region. Government initiatives for the automotive industry in various developing countries such as India and China are ultimately contributing to the growth of the Asia-Pacific market.

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