Automotive Cluster Market Overview
As per MRFR analysis, the Automotive Cluster Market Size was estimated at 30.32 (USD Billion) in 2022. The Automotive Cluster Market Industry is expected to grow from 31.51(USD Billion) in 2023 to 44.6 (USD Billion) by 2032. The Automotive Cluster Market CAGR (growth rate) is expected to be around 3.94% during the forecast period (2024 - 2032).
Key Automotive Cluster Market Trends Highlighted
The automotive cluster market is projected to witness significant growth in the coming years, driven by increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. The growing popularity of electric vehicles is also expected to boost the automotive cluster market, as these vehicles require specialized clusters to manage their complex systems.Key market drivers include the rising adoption of ADAS and autonomous vehicles, the increasing demand for enhanced safety and convenience features, and the growing popularity of electric vehicles. The automotive cluster market is also expected to benefit from the increasing adoption of infotainment systems and the growing demand for connected vehicles.Recent trends in the automotive cluster market include the increasing adoption of digital clusters, the growing popularity of head-up displays (HUDs), and the development of advanced safety features such as lane departure warning systems and blind spot monitoring systems. The automotive cluster market is also expected to benefit from the growing adoption of artificial intelligence (AI) and machine learning (ML), which will enable clusters to provide more personalized and intuitive experiences to drivers.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Cluster Market Drivers
Rising Demand for Advanced Driver Assistance Systems (ADAS)
The growing adoption of ADAS technologies, such as lane departure warning systems, adaptive cruise control, and automatic emergency braking, is a major driver of growth in the Automotive Cluster Market Industry. ADAS systems enhance vehicle safety and reduce the risk of accidents, making them increasingly popular among consumers. This demand is expected to continue in the coming years as governments worldwide implement stricter safety regulations and consumers become more aware of the benefits of ADAS systems.
Increasing Popularity of Digital Instrument Clusters
Digital instrument clusters are replacing traditional analog gauges in vehicles, offering a more customizable and informative display. These clusters provide drivers with a wide range of information, including speed, fuel level, navigation, and vehicle diagnostics. The growing popularity of digital instrument clusters is attributed to their enhanced functionality, aesthetics, and ability to integrate with other onboard systems. This trend is expected to drive the growth of the Automotive Cluster Market Industry in the coming years.
Growing Adoption of Electric Vehicles
The increasing adoption of electric vehicles (EVs) is creating new opportunities for the Automotive Cluster Market Industry. EVs require specialized instrument clusters that can display information related to battery charge, range, and energy consumption. The growing popularity of EVs is expected to drive the demand for automotive clusters specifically designed for these vehicles. Additionally, the development of autonomous vehicles is also expected to boost the growth of the Automotive Cluster Market Industry, as these vehicles require advanced instrument clusters to provide drivers with critical information and control over the vehicle's functions.
Automotive Cluster Market Segment Insights
Automotive Cluster Market Product Type Insights
The Automotive Cluster Market is segmented by Product Type into Analog Clusters, Digital Clusters, and Hybrid Clusters. The Digital Clusters segment is expected to dominate the market, accounting for a revenue of 14.58 (USD Billion) in 2023 and is projected to reach 21.34 (USD Billion) by 2032, growing at a CAGR of 4.17% during the forecast period. The growth of this segment is attributed to the increasing demand for advanced and feature-rich automotive clusters that provide drivers with enhanced visibility, convenience, and safety. Digital clusters offer a wide range of features, such as high-resolution displays, touchscreens, and customizable layouts, making them popular among consumers.The Analog Clusters segment is expected to hold a significant share of the market, accounting for a revenue of 10.27 (USD Billion) in 2023 and is projected to reach 13.97 (USD Billion) by 2032, growing at a CAGR of 3.42% during the forecast period. Analog clusters are still preferred by some consumers due to their simplicity and cost-effectiveness. They provide basic information such as speed, fuel level, and engine temperature and are often found in entry-level and budget-friendly vehicles. The Hybrid Clusters segment is expected to grow at a steady pace, accounting for a revenue of 6.66 (USD Billion) in 2023 and is projected to reach 9.29 (USD Billion) by 2032, growing at a CAGR of 3.75% during the forecast period.Hybrid clusters combine the features of both analog and digital clusters, offering a balance of functionality and cost. They provide a mix of traditional analog gauges with digital displays, allowing drivers to access both essential and advanced information.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Cluster Market Display Technology Insights
The Display Technology segment is a key part of the market and is expected to grow significantly over the forecast period. The LCD display technology segment is expected to hold the largest market share in 2023. However, the OLED display technology segment is expected to grow at the highest CAGR over the forecast period. This growth is attributed to the increasing demand for high-resolution and energy-efficient displays in automotive applications. The TFT display technology segment is also expected to grow at a significant CAGR over the forecast period.This growth is attributed to the increasing demand for affordable and reliable displays in automotive applications. The AMOLED display technology segment is expected to grow at the highest CAGR over the forecast period. This growth is attributed to the increasing demand for high-quality and flexible displays in automotive applications. Overall, the Display Technology segment is expected to remain a key growth driver for the Automotive Cluster Market over the forecast period.
Automotive Cluster Market Display Size Insights
The Automotive Cluster Market is segmented into various display sizes, including 'Less than 8 inches', '8-10 inches', and 'Over 10 inches'. Among these segments, the '8-10 inches' display size segment is estimated to hold the largest market share in terms of revenue, with a significant portion of the Automotive Cluster Market revenue attributed to this segment. The growing demand for mid-sized clusters with improved visibility and functionality is driving the growth of this segment. The 'Over 10 inches' display size segment is also expected to witness significant growth, owing to the increasing adoption of larger clusters with advanced features such as touchscreens and gesture control.Conversely, the 'Less than 8 inches' display size segment is anticipated to have a relatively smaller market share due to the limited functionality and space constraints associated with smaller clusters.
Automotive Cluster Market Application Insights
The Automotive Cluster Market is segmented by application into Passenger Cars, Commercial Vehicles, and Two-Wheelers. Among these segments, Passenger Cars account for the largest share of the market and are expected to maintain their dominance in the coming years. The growth in this segment can be attributed to the increasing demand for personal vehicles and the rising disposable income levels of consumers. Automotive Cluster Market revenue for Passenger Cars is projected to reach USD 18.24 billion by 2024, registering a CAGR of 4.5% during the forecast period.Commercial Vehicles are anticipated to witness steady growth during the forecast period, driven by the increasing demand for logistics and transportation services. The Automotive Cluster Market revenue for Commercial Vehicles is estimated to grow from USD 9.67 billion in 2023 to USD 12.87 billion by 2024, exhibiting a CAGR of 4.8% during the forecast period. Two-Wheelers are expected to experience significant growth, primarily driven by the rising demand in developing countries. The ease of maneuverability, affordability, and fuel efficiency of two-wheelers make them a popular choice for daily commuting and short-distance travel.Automotive Cluster Market revenue for Two-Wheelers is projected to reach USD 8.69 billion by 2024, registering a CAGR of 5.2% during the forecast period.
Automotive Cluster Market Vehicle Type Insights
The Vehicle Type segment plays a crucial role in the Automotive Cluster Market, with each type catering to specific consumer needs and market trends. Electric Vehicles (EVs) are gaining significant traction due to rising environmental concerns and government incentives, driving their market growth. In 2024, the EV segment is projected to account for a substantial share of the overall Automotive Cluster Market revenue, with a projected market size of approximately USD 12.5 billion. This growth is attributed to increasing demand for sustainable transportation solutions and technological advancements in battery technology and charging infrastructure.On the other hand, Internal Combustion Engine Vehicles (ICEVs) continue to hold a dominant position in the market, leveraging their established infrastructure and cost-effectiveness. In 2024, the ICEV segment is expected to generate a revenue of around USD 18.7 billion despite facing challenges from the growing popularity of EVs. Hybrid Vehicles (HVs), which combine both electric and gasoline powertrains, offer a balance between fuel efficiency and performance, making them an attractive option for consumers seeking a transition towards electrification.The HV segment is anticipated to experience steady growth, reaching a projected market size of USD 6.3 billion in 2024.
Automotive Cluster Market Regional Insights
The Automotive Cluster Market is expected to grow significantly in the coming years, driven by increasing demand for automobiles and the growing adoption of advanced technologies. Regionally, the market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to witness the highest growth rate during the forecast period due to the increasing production and sales of automobiles in countries such as China and India. Europe is also expected to experience significant growth due to the presence of major automotive manufacturers and a large consumer base.North America is expected to remain a key market due to the high adoption of advanced technologies in the automotive industry. South America and MEA are expected to grow at a moderate pace due to the increasing demand for automobiles and the growing middle class in these regions.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Cluster Market Key Players And Competitive Insights
Major players in Automotive Cluster Market are continuously investing heavily in research and development activities to stay ahead of the competition. They are also focusing on strategic partnerships and collaborations to expand their market reach and gain a competitive edge. Leading Automotive Cluster Market players are adopting advanced technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to enhance their product offerings and services. This Automotive Cluster Market development is expected to intensify competition and drive growth in the market.Continental AG, a prominent player in the Automotive Cluster Market industry, holds a significant market share. The company offers a wide range of automotive clusters, including digital, analog, and hybrid clusters. Continental AG has a strong presence and caters to major automotive manufacturers worldwide. Its focus on innovation and technological advancements has enabled it to maintain its position as a leading player in the market.Another key competitor in the Automotive Cluster Market is Denso Corporation. The company is known for its advanced electronic systems and components for the automotive industry. Its automotive clusters incorporate cutting-edge technologies such as touchscreens, haptic feedback, and voice control. Denso Corporation has a strong customer base and collaborates with leading automotive companies. The company's emphasis on quality, reliability, and customer satisfaction has contributed to its success in the market.
Key Companies in the Automotive Cluster Market Include
- Hyundai MobisNewpara
- Delphi Technologies
- Hitachi Automotive System
- Continental
- Denso Corporative
- Bosch
- LG Electronics
- Tesla Motorsa
- Aptiv
- Magna International
- Groupe Plastic Omnium
- Valeo
Automotive Cluster Market Industry Developments
In 2023, the automotive cluster market size was valued at $31.51 billion and is projected to reach $44.6 billion by 2032, exhibiting a CAGR of 3.94% over the forecast period. The market growth is attributed to the increasing demand for advanced automotive technologies, such as digital instrument clusters and heads-up displays. Major players in the market include Continental AG, Denso Corporation, and Visteon Corporation.Technological advancements, such as the integration of artificial intelligence and connected car technologies, are driving market growth. Additionally, government regulations mandating the adoption of safety features and emission-reduction technologies are expected to further fuel market expansion.
Automotive Cluster Market Segmentation Insights
- Automotive Cluster Market Product Type Outlook
- Analog Clusters
- Digital Clusters
- Hybrid Clusters
- Automotive Cluster Market Display Technology Outlook
- LCD
- TFT
- OLED
- AMOLED
- Automotive Cluster Market Display Size Outlook
- Less than 8 inches
- 8-10 inches
- Over 10 inches
- Automotive Cluster Market Application Outlook
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
- Automotive Cluster Market Vehicle Type Outlook
- Electric Vehicles
- Internal Combustion Engine Vehicles
- Hybrid Vehicles
- Automotive Cluster Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
30.32(USD Billion) |
| Market Size 2023 |
31.51(USD Billion) |
| Market Size 2032 |
44.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.94% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Hyundai MobisNewpara, Delphi Technologies, Hitachi Automotive System, Continental, Denso Corporative, Bosch, LG Electronics, Tesla Motorsa, Aptiv, Magna International, Groupe Plastic Omnium, Valeo |
| Segments Covered |
Product Type, Display Technology, Display Size, Application, Vehicle Type, Regional |
| Key Market Opportunities |
Digitalization and Connectivity Customization and Personalization Energy Efficiency and Electrification Safety and Security Fleet Management |
| Key Market Dynamics |
Rising demand for advanced driver assistance systems ADAS Growing adoption of electric vehicles Increasing government regulations on vehicle safety Expansion of automotive aftermarket Technological advancements in cluster design |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Cluster Market is expected to reach a valuation of around USD 31.51 billion in 2023 and is projected to expand at a CAGR of approximately 3.94% from 2024 to 2032, reaching a valuation of around USD 44.6 billion by 2032.
The Asia-Pacific region is anticipated to be a significant growth driver for the Automotive Cluster Market due to the increasing production and sales of automobiles in countries such as China, India, and Japan. North America and Europe are also anticipated to contribute to the growth of the market owing to the presence of major automotive manufacturers and technological advancements.
Automotive Clusters are primarily used for displaying essential information to drivers, including speed, fuel level, engine temperature, and navigation data. They also integrate advanced features such as infotainment systems, smartphone connectivity, and driver assistance technologies.
Continental AG, Denso Corporation, Visteon Corporation, Robert Bosch GmbH, and Valeo S.A. are some of the prominent players in the Automotive Cluster Market.
The increasing demand for advanced driver assistance systems (ADAS), the integration of artificial intelligence (AI) and machine learning (ML) technologies, and the growing popularity of electric vehicles are some of the key trends shaping the Automotive Cluster Market.
The COVID-19 pandemic had a significant impact on the Automotive Cluster Market, leading to disruptions in supply chains and a decline in automobile production. However, the market is anticipated to recover in the post-pandemic period as economic activities resume and consumer demand for vehicles increases.
