PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477180
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477180
Digital Instrument Cluster Market size was valued at USD 2,545.12 Million in 2023, expanding at a CAGR of 19.5% from 2024 to 2032.
A Digital Instrument Cluster, also known as a digital dash or digital gauge cluster, is an electronic display system found in modern vehicles. Increasing consumer demand for connected vehicles with advanced infotainment systems and digital displays is boosting the market for digital instrument clusters. However, retrofitting digital instrument clusters into existing vehicle models may pose compatibility challenges, especially in older vehicles, which could hinder market growth. Furthermore, the growing popularity of electric vehicles presents opportunities for digital instrument cluster manufacturers to integrate specialized displays and features tailored to EV functionalities.
Digital Instrument Cluster Market- Market Dynamics
Increasing digitalization and connectivity in the automotive sector
Digital instrument clusters offer a more intuitive and customizable user interface compared to traditional analog clusters. With the integration of connectivity features such as Bluetooth, Wi-Fi, and 4G/5G connectivity, digital instrument clusters can seamlessly interact with other devices and services. Many automakers have been shifting towards digital instrument clusters, especially in their newer models, replacing traditional analog gauges.
Digital Instrument Cluster Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 19.5% over the forecast period (2024-2032)
Based on display type segmentation, LCD was predicted to show maximum market share in the year 2023
Based on application segmentation, the automobile was the leading type in 2023
Based on vehicle type segmentation, passenger vehicles were the leading type in 2023
Based on embedded type segmentation, AI was the leading type in 2023
Based on display size segmentation, 9-11 inches was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Digital Instrument Cluster Market is segmented based on Display Type, Application, Vehicle Type, Display Size, Embedded Type, and Region.
The market is divided into three categories based on display type: The market for LCDs (Liquid Crystal Displays) in digital instrument clusters has been experiencing significant growth due to several factors. Digital instrument clusters, also known as digital dashboards or virtual cockpits, have become increasingly popular in modern vehicles due to their enhanced functionality, aesthetics, and flexibility. LCDs enable the integration of advanced features such as high-resolution displays, customizable layouts, interactive graphics, and augmented reality elements.
The market is divided into four categories based on application: Digital instrument clusters in automobiles have become increasingly common in modern vehicles, replacing traditional analog gauges with digital displays. These clusters typically consist of a high-resolution screen that can dynamically present information to the driver.
Digital Instrument Cluster Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America has a highly developed technological infrastructure, a high rate of adoption of smart city initiatives, a strong presence of significant players in the industry, and an increasing amount of research activities, which leads the worldwide instrument cluster market. In addition, due to the region's fast urbanization, growing infrastructural development, and advanced technology adoption in nations like China, Japan, and India, Asia-Pacific is predicted to see tremendous growth. The region's developing consumer electronics and automotive sectors further add to the demand for infrared LED lighting solutions. The Asia-Pacific region's market is growing due to beneficial government efforts and investments in smart city projects.
The major players in the digital instrument cluster market are Continental AG, Robert Bosch GmbH, Denso Corporation, AU Optronics Corporation, LG Display, Valeo S.A., Visteon Corporation etc. Several key players dominate this market, each bringing their unique offerings and strategies. For instance, in November 2023, an Indian startup, Bengaluru-based Auklr Technologies, unveiled an intelligent instrument cluster at EVangelise '23, hosted by iCreate, Ahmedabad. This cluster has the potential to completely transform the driving experience for electric vehicles.
In April 2024, Tessolve, a Hero Electronix venture, collaborated with NXP Semiconductors to advance the productisation of a mass-market digital connected cluster. The digital instrument cluster features a 5-inch display NXP chipsets for BLE and Wi-Fi 6 connectivity, multi-channel power management, and CAN interface.
In June 2022, BlackBerry Limited, BiTECH Automotive Co., Ltd., HANGHAI and WATERLOO, were collaborated on QNX Neutrino Realtime Operating System (RTOS) for the development of this innovative digital LCD cluster.
SCOPE OF THE REPORT
GLOBAL DIGITAL INSTRUMENT CLUSTER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Panasonic Corporation
Robert Bosch Gmb
Nvidia Corporation
BMW
Denso Corporation
IAC Group
Magneti Marelli S.p.A.
ID4Motion
Nippon Seiki Company Ltd.
Luxoft
Visteon Corporation
Others