Technavio, a tech-focused market research firm, has published a new report on the global automotive reconfigurable instrument cluster market, which is expected to experience an impressive growth rate with a CAGR of more than 19% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global automotive reconfigurable instrument cluster market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global automotive reconfigurable instrument cluster market into the following key regions: Europe, North America, and ROW.
Geographical segmentation of the global automotive reconfigurable instrument cluster market for 2015 (market share %)
|
Europe |
41.72% |
|
North America |
41.99% |
|
ROW |
16.29% |
Source: Technavio
Europe: largest revenue generating region for automotive reconfigurable instrument cluster
The automotive reconfigurable instrument cluster market in Europe accounted for almost 7 million units in 2015 and is expected to grow at a CAGR of around 17% by 2020. The increasing adoption of reconfigurable instrument clusters in the luxury car segment in Europe will lead to the growth of this market in this region. The vendors in the region are investing in the development of fully automotive reconfigurable instrument clusters to integrate digital technologies to enhance HMI and safety of the vehicles. The increasing demand for fully automotive reconfigurable instrument clusters from luxury car brands like BMW, Audi, and Mercedes-Benz will boost the growth in the European market over the next four years.
“The high prices of these instrumental clusters makes it ideal for luxury car models in the European market. Various vendors in the market are integrating fully automotive reconfigurable instrument clusters in their brands to increase the performance and safety of the vehicle. Furthermore, it is estimated that various mid-level cars and entry-level segments will use hybrid instrument clusters as a standard feature for its vehicles during the forecast period,” says Siddharth J, a lead analyst at Technavio, specializing in research on automotive electronics.
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Automotive reconfigurable instrument cluster market in North America
The automotive reconfigurable instrument cluster market in the Americas accounted for around 6 million units in 2015 and is expected to grow at a CAGR of about 15% by 2020. The increasing adoption of fully digital or fully automotive reconfigurable instrument clusters will fuel the growth in the North American market. The US government introduced legislation for testing of automated vehicles and encouraging manufacturers to integrate advanced technologies for enabling automated driving and promote safety in vehicles. Regulations such as Corporate Average Fuel Economy (CAFE) and NCAP is attributing to advance in-vehicle systems such as digital instrument clusters that can contribute to a safer drive.
Automotive reconfigurable instrument cluster market in ROW
The market for automotive reconfigurable instrument clusters in ROW accounted for more than 2 million units in 2015 and is expected to grow at a CAGR of over 31% by 2020. The increasing awareness on automotive safety in the APAC region will promote the growth of the market in this region. Countries like India and China are adopting hybrid instrument clusters or partially automotive reconfigurable instrument clusters for compact and mid-sized vehicles to promote automotive safety and better performance. The prevalence of premium luxury cars in the Middle East is increasing the demand for digital instrument clusters in the region. The OEMS in the region are introducing vehicles with sophisticated design and advanced automotive technologies. Such demands and consumer trends will foster the growth of the Middle Eastern market over the period of next four years.
The top leading vendors operating in the global automotive reconfigurable instrument cluster market are:
- Bosch
- Continental
- Denso
- Visteon
Other prominent vendors in the market include Alpine Electronics, Delphi, Innolux, Japan Display, Luxoft, Mitsubishi Electric, Nippon Seiki, QNX, Rightware, and Sharp.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Reconfigurable Instrument Cluster Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Gesture Recognition System Market 2016-2020
- Global Automotive LIDAR Sensors Market 2016-2020
- Global Anti-Collision Sensors Market 2016-2020
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