Pune, India, Dec. 08, 2021 (GLOBE NEWSWIRE) -- According to the report, the global Automotive Instrument Cluster market size was USD 7.20 billion in 2018 and is projected to reach USD 13.77 billion by 2026, exhibiting a CAGR of 8.4% during the forecast period. Rising Demand for Aesthetically Pleasing Dashboards in Vehicles to Boost the Market.
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2019-2026 CAGR | 8.4% |
| 2026 Value Projection | USD 13.77 billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 7.20 billion |
| Historical Data for | 2015-2017 |
| No. of Pages | 200 |
| Segments covered | Cluster, Vehicle and Region |
| Growth Drivers | Rapid Growth in Premium Electric Vehicles to Upsurge the Demand for Digital Instrument Cluster |
| Increasing Inclination towards Digital Solutions to Drive the Market |
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-instrument-cluster-market-102850
The global instrument cluster market size is projected to reach USD 13.77 billion by 2026, exhibiting a CAGR of 8.4% during the forecast period. Increasing preference for digital dashboards among car buyers will be the central force pushing the growth of this market, finds Fortune Business Insights™ in its recent report, titled “Automotive Instrument Cluster Market Size, Share & Industry Analysis, By Cluster Type (Analog, Digital, and Hybrid), By Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, and Electric Vehicle), and Regional Forecast, 2019-2026”.
Digital clusters have been swiftly replacing the conventional analog clusters in vehicles over the past decade. This change in consumer preference has opened up new areas of creativity for automakers as digitized dashboards can be made to look sportier and attractive. For instance, in September 2018, BMW launched the revised version of its BMW Cockpit powered by the new BMW Operating System 7.0. The new features are designed to keep the driver fully informed of the car’s performance, with significant upgrades in the areas of gesture control and voice recognition. Thus, digitalization of instrument clusters in high-end cars is set to emerge as one of the top instrument cluster market trends in the coming years.
Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/automotive-instrument-cluster-market-102850
Development of Instrument Clusters for Electric Vehicles to Augment Market Potential
The International Energy Agency (IEA) revealed that deployment of electric vehicles (EVs) rose by an astonishing 63% in 2018 from 2017 levels, with the global EV fleet surpassing 5 million in 2018. Thus, production of EVs is speedily catching up with demand. The increasing inclination toward EVs, mainly prompted by rising pollution and oil prices, is creating new growth avenues for automakers around the world.
Many manufacturers are now designing and developing digital instrument clusters tuned to the requirements of an EV. For instance, in November 2018, Visteon announced that it will be supplying instrument clusters for Renault’s new electric variant of its entry-level Kwid model. Integrated dashboards for EVs are critical because drivers need to know exactly how long the car battery will last, availability of the nearest battery recharge station, and software updates from the OEM. Thus, rising demand for EVs across the globe will fuel the market for specialized digital instrument clusters.
Quick Buy - Automotive Instrument Cluster Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102850
List of the Companies Operating in the Market:
- HARMAN International
- Simco Ltd.
- Delphi Automotive LLP
- Pricol Ltd.
- DENSO Corporation
- Robert Bosch GmbH
- Magneti Marelli S.p.A
- Calsonic Kansei Corporation
- Visteon Corporation
- YAZAKI Corporation
- Continental AG
Global Automotive Instrument Cluster Market Segmentation:
By Cluster Type:
- Analog
- Digital
- Hybrid
By Vehicle Type:
- Passenger Cars,
- Light Commercial Vehicle,
- Heavy Commercial Vehicle
- Electric Vehicle
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-instrument-cluster-market-102850
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
