Key Insights on the Automotive Digital Instrument Cluster Market | Technavio

The global automotive digital instrument cluster market is expected to grow at a CAGR of more than 37% from 2017-2021, according to a new market research report by Technavio.

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Technavio has published a new market research report on the global automotive digital instrument cluster market 2017-2021 under their automotive library. (Graphic: Business Wire)

Global automotive digital instrument cluster market segmentation by vehicle type and geography

Technavio’s report on the global automotive digital instrument cluster market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by vehicle type, including luxury vehicles and mid-segment vehicles. As projected in 2016, close to 81% of the market share originated from luxury vehicles.

Based on geography, the global automotive digital instrument cluster market has been segmented into North America, Europe, and ROW. As of 2016, more than 42% of the market share came from North America.

“The US's drive towards autonomous vehicles is expected to boost the adoption of digital instrument clusters in the region. The US is the first country to introduce legislation that permits testing of automated vehicles, though only a few states have passed the bill. This signifies potential opportunity for advanced technologies for enabling automated driving and the region's readiness to upgrade to higher automation levels,” says Keerthi Balu, a lead analyst at Technavio for automotive electronics research.

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Global automotive digital instrument cluster market: competitive vendor landscape

Digital instrument clusters are still confined to high-end cars, and the market is expected to be fueled by the growing trend of autonomous vehicles. The significant penetration of electronics in automobiles has led to the expansion of the ecosystem with lucrative opportunities for software players in the automotive industry. This spans from software developers to middleware and software tools providers. The digitalization of instrument clusters has paved opportunities for software players catering to these automotive applications.

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Other topics covered in the report:

Market drivers:

• Digital instrument cluster to bring down costs for the automotive OEMs
• Digital instrument cluster enhances the vehicle's interior

Market challenges:

• Low penetration of digital instrument cluster due to cost pressure on the automotive OEMs
• Risk of system failure due to software malfunction

Market trends:

• Development of superior graphics display
• Development of prism display that emulates real 3D effects

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