Report Code : BII983 Jan-2022 Automotive & Transportation Format : PDF Pages : 205
The vehicle's in-vehicle entertainment system combines all of the vehicle's infotainment capabilities, such as tuner reception, media connectivity, audio playing, navigation, and HMI. It provides audio/visual entertainment and information material, such as radio, media player, TV, and video, as well as telephone, navigation, speech control, apps, and connectivity capabilities, which bring digital life to the road. Electronics and sensors, as well as infotainment systems, are expected to boost growth. Growing smartphone integration with in-vehicle entertainment systems, in tandem with rising smartphone sales, would give OEMs with a substantial means to provide cost-effective options across all car segments, boosting the in-vehicle infotainment industry even more.
The in-car entertainment sector is predicted to increase due to rising demand for systems that may support in-car comfort, enjoyment, and convenience, such as on-demand music, smartphone integration, live audio streaming, and numerous other entertainment services. Automobile manufacturers are progressively putting such systems into their vehicles, realizing that such features can easily influence a consumer's purchasing decision. Customers in emerging economies may now afford to buy high-end and luxury vehicles with these systems thanks to increased disposable incomes. Advanced graphic user interfaces, speech recognition, intuitive touchscreens, and other features have been added to these systems as a result of technological advancements. All of these developments point to strong growth in the in-car infotainment sector over the next few years. Smartphone connectivity, whether by Bluetooth or Wi-Fi, lets users to access messages and other information and makes it easier to work on the go, and is another feature fueling the popularity of these systems. Furthermore, users can configure these systems according to their preferences and requirements, which contributes to their growing popularity. Furthermore, the ability of these systems to link to cloud-based services and enable seamless connectivity as well as remote access to playlists and video streaming is increasing demand for these systems.
According to Business Intelligence Insights “Global In-Car Infotainment Market is expected to grow from USD 21,729.50 million in 2021 to USD 33162.56 million by 2028, at a CAGR of 7.30 % during the forecast period 2022-2030
The COVID-19 outbreak had a significant global impact on the automotive sector, resulting in a significant drop in automotive sales, a lack of raw materials, and other issues. Many small and large players in the automotive industry are experiencing issues such as production halts, government-mandated plant closures, and others. Furthermore, automotive OEMs and many advanced mobility players have taken the biggest hit in the automotive world as a result of COVID-19. Because of macroeconomic trends, changes in consumer behaviour, and regulatory developments, this could have a direct long-term impact on the automotive industry as well. With countless changes forced upon our daily lives by the COVID-19 pandemic, the automotive industries are on the lookout for how changes in consumer behaviour may affect passenger car sales. However, industry leaders are constantly investing in R&D activities to bring about change in the in-car infotainment market.
Head-up display (HUD) category dominated the market with more than 30% of the market share
On the basis of Product, the market is segmented into Audio Unit, Display Unit, Head-up Display, Navigation Unit and Communication Unit. The augmented reality (AR) technology, which employs a mix of cameras, sensors, Wi-Fi, and GPS to deliver dynamic information while driving, is expected to be included in the head-up display (HUD) systems. Although such an arrangement can assist the driver in making educated judgments, there are growing fears that the system's surplus information will distract the driver, jeopardising the safety of both the driver and the passengers. The addition of complicated multimedia and safety elements, including as rearview cameras and comprehensive information displays, into these displays is causing the display units to grow in size. Due to the continuing implementation of 4G LTE networks, communication equipment are becoming more dependable, allowing for advanced onboard functions like as 3D navigation, hands-free calling, satellite radio, and media streaming. Furthermore, efforts to deploy out 5G networks are projected to expand the connection options available in infotainment systems.
Aftermarket category dominated the market with more than 40% of the market share
On the basis of Installation, the market is segmented into OE fitted and Aftermarket. As aftermarket suppliers of in-car infotainment systems sell their goods at a cheaper cost, demand for aftermarket systems is likely to increase throughout the projection period. Although aftermarket systems may be adjusted according to the preferences of customers, their popularity is projected to expand. Furthermore, in-car entertainment aftermarket suppliers are collaborating with manufacturers to improve their existing solutions. Original equipment manufacturer (OEM) products are costly. They're also standardized, so there's less room for personalization. Authorized dealers and distributors can get them for you. The goods provide advantages including quicker and more convenient repair and maintenance, and are frequently covered by the automobile manufacturer's guarantee. OE-fitted systems have the added benefit of giving the company access to vehicle data, allowing them to run direct marketing campaigns and issue service and support warnings.
Segmentation of the Global In-Car Infotainment Market:
List of Key Players in the Global In-Car Infotainment Market:
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Asia Pacific dominated the market with more than 37% of the market share
Over the forecast period, the Asia Pacific regional automotive entertainment industry is expected to grow at the fastest rate. Consumers' increasing disposable income allows them to purchase passenger cars with the most up-to-date amenities. Rising premium car sales in China are expected to contribute significantly to the growth of the Asia Pacific regional automotive entertainment systems industry. Furthermore, rising smartphone adoption, as well as rising demand for in-car infotainment systems with smartphone integration technology, are expected to drive regional market growth during the forecast period.
|Market Size Value in 2021||USD 21,729.50 million|
|Market Size Value in 2030||USD 33162.56 million|
|Forecast Units||(USD Million)|
|Countries Covered||North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE|
|Segments Covered||By Product, By Installation, By Application, By Region|
|Competitive landscape||Leading companies, Competitive strategies and Consumer engagement scope|
|Customization is available||If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at firstname.lastname@example.org if you have any questions|