IMARC Group, a leading market research company, has recently releases report titled “Automotive Instrument Cluster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The global automotive instrument cluster market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
What is Automotive Instrument Cluster?
An automotive instrument cluster is a crucial component in the dashboard of a vehicle that provides essential information to the driver about the status and performance of a vehicle. It serves as a central display unit that combines various indicators, gauges, and digital screens to convey critical data, such as speed, fuel level, engine temperature, and warning signals. It enables drivers to monitor the condition of the vehicle and make informed decisions while driving. As it offers a user-friendly experience and assists in enhancing driving safety, efficiency, and overall user satisfaction, the demand for automotive instrument clusters is increasing across the globe.
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What are the growth prospects and trends in the Automotive Instrument Cluster industry?
At present, the rising demand for instrument clusters that seamlessly integrate with in-car infotainment systems, navigation tools, and vehicle diagnostics represents one of the key factors driving the market positively. In addition, the increasing adoption of electric and hybrid vehicles among the masses around the world is contributing to the growth of the market. Moreover, the growing demand for improved safety and enhanced driving experience among individuals is offering a positive market outlook. Besides this, the increasing focus on environmentally friendly vehicles is impelling the growth of the market. Furthermore, the rising integration of advanced driver assistance systems (ADAS) for safe driving is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Cluster Type:
- Analog
- Digital
- Hybrid
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicle
Breakup by Sales Channel:
- OEM
- Aftermarket
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
- Alps Alpine Co Ltd
- Continental AG
- JPM Group
- Nippon Seiki Co. Ltd.
- Pricol Limited
- Robert Bosch GmbH (Robert Bosch Stiftung GmbH)
- Simco Auto Limited
- Valid Manufacturing Ltd and Visteon Corporation.
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