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Instrument Cluster Market & its Key Opportunities and Challenges

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The instrument cluster market is expected to be worth USD 9.02 billion in 2018 and is expected to reach USD 10.72 billion by 2023, at a CAGR of 3.5% between 2018 and 2023. – PowerPoint PPT presentation

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Title: Instrument Cluster Market & its Key Opportunities and Challenges


1
MarketsandMarkets Presents

Instrument Cluster Market its Key Opportunities
and Challenges Instrument Cluster Market by
Application (Speedometer, Odometer, Tachometer,
and Others), Vehicle Type (Passenger Car,
Commercial, Two-wheeler, Agriculture,
Off-highway), Technology (Analog, Hybrid,
Digital), and Geography - Global Forecast to 2023
https//www.marketsandmarkets.com/Market-Reports
/instrument-cluster-market-255415383.html
2
The instrument cluster market is expected to be
worth USD 9.02 billion in 2018 and is expected to
reach USD 10.72 billion by 2023, at a CAGR of
3.5 between 2018 and 2023. Increasing vehicle
production worldwide and stringent government
regulations for vehicle and passenger safety
across the globe are driving the growth of the
instrument cluster market. Growing demand for
digital instrument clusters provides
opportunities for the market players. Increasing
vehicle production worldwide and stringent
government regulations for vehicle and passenger
safety across the globe are the major drivers for
the growth of the instrument cluster
market. Browse 67 tables and 57 figures spread
through 143 pages and in-depth TOC on "Instrument
Cluster Market  - Global Forecast to 2023"
3
The instrument cluster market for speedometer
and odometer application is expected to grow at
the highest CAGR between 2018 and 2023.
Speedometer is a standard equipment in various
types of vehicles. The major demand for
speedometers is from passenger cars,
two-wheelers, and commercial vehicles. The demand
for speedometers and odometers is growing due to
the growing need for vehicle safety. Many
countries such as the US, China, and India are
focusing on the safety of vehicle and passengers,
which requires frequent monitoring of factors
such as speed, fuel level, temperature level, oil
level, among others. Ask Free PDF
Brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id255415383 By vehicle type,
two-wheeler is expected to grow at the highest
CAGR between 2018 and 2023. Two-wheelers are one
of the most versatile forms of transportation.
APAC is the leading region for the two-wheelers
market. The major demand for two-wheelers in APAC
is mainly derived from countries such as China
and India while other important countries include
Indonesia, Thailand, Philippines, Malaysia, and
Singapore. The demand for two-wheelers is highly
dependent on the economic stability and average
income levels of the country. Massive government
spending in rural programs, large
road-construction projects, and increasing
population and urbanization are the major factors
driving the growth of the two-wheelers market.
4
  • Key Target Audience
  • Component and Material Providers
  • Automotive Instrument Cluster Manufacturers and
    Suppliers
  • Research Organizations and Consulting Companies
  • Associations, Alliances, and Organizations
    Related to the Instrument Cluster Market
  • Analysts and Strategic Business Planners
  • OEMs such as Manufacturers of Vehicles including
    Two-wheelers, Passenger Cars, Commercial
    Vehicles, Agriculture Vehicles, and Off-highway
    Vehicles
  • Scope of the Report
  • This research report categorizes the instrument
    cluster market on the basis of application,
    vehicle type, technology, and region.
  • Instrument Cluster Market, By Application
  • Instrument Cluster Market, By Vehicle Type
  • Instrument Cluster Market, By Technology
  • Instrument Cluster Market, By Region

5
By technology, digital instrument cluster is
expected to grow at the highest CAGR during the
forecast period. OEMs preferring digital
instrument clusters due to the growing demand
from end users is the major driving factor for
the digital instrument cluster market. Most
automobile manufacturers are seeking to
differentiate their vehicles through the
provisioning of digital instrument clusters in
their vehicles. Growing advancements in display
technology also help drive this market. Many
players are focusing on providing advanced
display technology for their clusters considering
the growing interest of end users in 3D
technologies for a more immersive experience.
Players providing digital instrument clusters
include Continental (Germany), Visteon (US),
DENSO (Japan), Robert Bosch (Germany), and
Magneti Marelli (Italy), among others. Request
Free Sample Pages https//www.marketsandmarkets.c
om/requestsampleNew.asp?id255415383 The
instrument cluster market has been segmented on
the basis of geographic regions into North
America, Europe, APAC, and RoW. The market in
APAC is expected to grow at the highest CAGR
between 2018 and 2023. The Asia Pacific region is
expected to provide ample opportunities to the
instrument cluster market during the forecast
period for different types of vehicles, including
two-wheelers, passenger cars, and commercial
vehicles, among others. The automotive industry
in Asia Pacific has been very dynamic over the
past few years, owing to the changing consumer
preferences, increasing per capita income of the
middle-class population, and low vehicle costs.
6
About MarketsandMarkets MarketsandMarkets
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7
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