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Global Digital Instrument Cluster Market to reach USD 6.19 billion by 2028.

Global Digital Instrument Cluster Market Size study, by Vehicle (BEV, FCEV, HEV, PHEV) by Display (LCD, OLED, TFT-LCD) and Regional Forecasts 2022-2028.

Product Code: ALTAE-49394829
Publish Date: 22-04-2022
Page: 200

Global Digital Instrument Cluster Market is valued approximately USD 1.73 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 20% over the forecast period 2022-2028. Digital Instrument Cluster is called electronic instrument cluster or digital instrument panel or digital dash for short, it is a set of instrumentation, including the speedometer, that is displayed with a digital readout rather than with the traditional analog gauges. Many refer to it simply as a digital speedometer. The rising demand for electric vehicles and growing demand for advanced cluster technology by OEMs has led the adoption of Digital Instrument Cluster across the forecast period. For instance: The electric vehicle (EV) market is estimated to be a Rs 50,000 crore (USD 7.09 billion) opportunity in India by 2025, with two- and three-wheelers expected to drive higher electrification of the vehicles in the medium term in the wake of COVID-19, according to a report by Avendus Capital. As per the European environment agency there has been a steady increase in the number of new electric car registrations annually, from 700 units in 2010 to about 550,000 units in 2019 (3.5% of new registrations). In 2020, electric car registrations surged, accounting for 11% of newly registered passenger cars Also, with the growing acceptance of semi-autonomous and autonomous vehicle technology and use of aluminium parts to make Digital Instrument Clusters the adoption & demand for Digital Instrument Cluster is likely to boost the market growth during the forecast period. However, cyberthreats such as malware attacks and technical challenges associated with instrument impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Digital Instrument Cluster Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of Market share owing to the rising demand for luxury vehicles, increasing demand for Digital Instrument Clusters in mid-level models from OEMs. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as decrease in the price of Digital Instrument Clusters would create lucrative growth prospects for the Digital Instrument Cluster Market across Asia-Pacific region.

Major Market player included in this report are:
International Automotive Components (IAC)
Bosch (Germany),
Continental (Germany),
Visteon (US),
Denso (Japan),
Delphi (UK),
Nvidia (US),
Panasonic (Japan),
Nippon Seiki (Japan),
Magneti Marelli (Italy)

The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the Market are explained below:
By Vehicle:
By Display:
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Digital Instrument Cluster Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Digital Instrument Cluster Market, by region, 2020-2028 (USD Billion)
1.2.2. Digital Instrument Cluster Market, by Vehicle, 2020-2028 (USD Billion)
1.2.3. Digital Instrument Cluster Market, by Display, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Digital Instrument Cluster Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Digital Instrument Cluster Market Dynamics
3.1. Digital Instrument Cluster Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Rising demand for electric vehicles Growing demand for advanced cluster technology by OEMs
3.1.2. Market Challenges Cyberthreats Technical Challenges associated with instrument
3.1.3. Market Opportunities Increasing acceptance of semi-autonomous and autonomous vehicle technology Use of Aluminium Parts to Make Digital Instrument Clusters
Chapter 4. Global Digital Instrument Cluster Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Digital Instrument Cluster Market, by Vehicle
6.1. Market Snapshot
6.2. Global Digital Instrument Cluster Market by Vehicle, Performance – Potential Analysis
6.3. Global Digital Instrument Cluster Market Estimates & Forecasts by Vehicle 2019-2028 (USD Billion)
6.4. Digital Instrument Cluster Market, Sub Segment Analysis
6.4.1. BEV
6.4.2. FCEV
6.4.3. HEV
6.4.4. PHEV
Chapter 7. Global Digital Instrument Cluster Market, by Display
7.1. Market Snapshot
7.2. Global Digital Instrument Cluster Market by Display, Performance – Potential Analysis
7.3. Global Digital Instrument Cluster Market Estimates & Forecasts by Display 2019-2028 (USD Billion)
7.4. Digital Instrument Cluster Market, Sub Segment Analysis
7.4.1. LCD
7.4.2. OLED
7.4.3. TFT-LCD
Chapter 8. Global Digital Instrument Cluster Market, Regional Analysis
8.1. Digital Instrument Cluster Market, Regional Market Snapshot
8.2. North America Digital Instrument Cluster Market
8.2.1. U.S. Digital Instrument Cluster Market Vehicle breakdown estimates & forecasts, 2019-2028 Display breakdown estimates & forecasts, 2019-2028
8.2.2. Canada Digital Instrument Cluster Market
8.3. Europe Digital Instrument Cluster Market Snapshot
8.3.1. U.K. Digital Instrument Cluster Market
8.3.2. Germany Digital Instrument Cluster Market
8.3.3. France Digital Instrument Cluster Market
8.3.4. Spain Digital Instrument Cluster Market
8.3.5. Italy Digital Instrument Cluster Market
8.3.6. Rest of Europe Digital Instrument Cluster Market
8.4. Asia-Pacific Digital Instrument Cluster Market Snapshot
8.4.1. China Digital Instrument Cluster Market
8.4.2. India Digital Instrument Cluster Market
8.4.3. Japan Digital Instrument Cluster Market
8.4.4. Australia Digital Instrument Cluster Market
8.4.5. South Korea Digital Instrument Cluster Market
8.4.6. Rest of Asia Pacific Digital Instrument Cluster Market
8.5. Latin America Digital Instrument Cluster Market Snapshot
8.5.1. Brazil Digital Instrument Cluster Market
8.5.2. Mexico Digital Instrument Cluster Market
8.6. Rest of The World Digital Instrument Cluster Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. International Automotive Components Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Bosch (Germany),
9.2.3. Continental (Germany),
9.2.4. Visteon (US),
9.2.5. Denso (Japan),
9.2.6. Delphi (UK),
9.2.7. Nvidia (US),
9.2.8. Panasonic (Japan),
9.2.9. Nippon Seiki (Japan),
9.2.10. Magneti Marelli (Italy)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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