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Instrument Cluster Market & its Key Opportunities and Challenges

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.<br>https://www.marketsandmarkets.com/Market-Reports/instrument-cluster-market-255415383.html

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Instrument Cluster Market & its Key Opportunities and Challenges

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  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/pdfdownloadNew.asp?id=255415383 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 MagnetiMarelli (Italy), among others. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=255415383 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™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

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