Selbyville, Delaware, United States, November 19 2020 (Wiredrelease) Global Market Insights, Inc :What will be the impact of OEMs on automotive digital instrument cluster market outlook?
Rising demand for bigger display incorporated in vehicles will drive automotive digital instrument cluster market trends over the forecast timeframe. Big displays tend to cover multiple electronic features like system alerts, media, communication, map and navigation and speed when compared to analog instruments. Increasing adoption of these systems for vehicles by major manufacturers will fuel the demand for the product.
Various vehicle manufacturers like Audi, Jaguar, Tesla and Volvo have incorporated different systems into their vehicles. For instance, Volvo had unveiled XC40 SUV in 2018 that had a TFT-LCD digital instrument cluster of 12.3-inch installed with the control for functions such as cruise control, messages and trip calculator.
OEMs have deployed the products with a rise in the implementation of multi-layer display technology which in turn will propel automotive digital instrument cluster market size over the next few years.
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Automotive digital instrument clusters are steadily being incorporated with comprehensible digital display panel and have been in high demand by various manufacturers producing luxury cars. These technologies provide enhanced user interface and are armed with characteristics like diagnostic function and vehicle repair.
On the contrary, drivers tend to have difficulties in reading the analog clusters which prove to be advantageous for the automotive digital instrument clusters industry. There has been a rise in the demand for electric and luxury vehicles among the consumers owing to the rise in the disposable income at hand.
Luxury vehicles are experiencing considerable demand in North America and especially in countries like Canada and the U.S. Mexico has been expected to exhibit one of highest rate of growth in the forthcoming years.
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A number of OEMs have been laying emphasis over combining the driving information within these clusters owing to ease up the process of having to accommodate all the desired information within a single panel. The system-on-chip (SoS) platforms essentially enable the production of a very high quality of display for 3D graphics.
Bosh has been involved in the development of 3D digital clusters which will help improve the versatility of numerous driving functions like parking and navigation. Mid-level OEMs have increased their demand for automotive digital instrument cluster as the cost of production has been considerably reduced with the size having been optimized. Audi has installed the system into its standard vehicles like the Audi A4.
Rise in the demand for electric vehicles in China as well as the incorporation of innovative technologies in these electric vehicles are expected to bolster automotive digital instrument cluster market forecast. Great Wall Motors had revealed that it inked an agreement for a partnership with BMW Group in December 2018 in order to produce electric MINI vehicles in China.
Several players have been involved in the industrys competitive dynamics and have been adopting price strategies as well as investing in technology to stimulate the product demand. For instance, LG and BlackBerry had expanded their partnership in June 2019 to stimulate the autonomous and connected vehicle technologies for all the OEMs and suppliers across the world.
The agreement demanded both the companies to be working together in order to develop and manufacture both instrument clusters and telematics system of the next generation.
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