DUBLIN, March 13, 2023 /PRNewswire/ — The “Global Automotive Infotainment Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Installation Type, Fit, Vehicle Type and Region” report has been added to ResearchAndMarkets.com’s offering.
The global automotive infotainment systems market is estimated to be ~US$ 15 billion in 2022 and is expected to reach a market size of ~US$ 25 billion by 2028 growing at a CAGR of ~9% during 2022-2028.
Key Players Mentioned in the Report
- Denso Corporation
- Continental AG
- HARMAN International
- Pioneer Corporation
- Robert Bosch GmbH
- Visteon Corporation
- Panasonic Corporation
- Marelli Holdings Co., Ltd
- JVCKENWOOD Corporation
- Mitsubishi Electric Corporation
- Xona Space Systems
- Ovo Automotive
- TUC s.r.l
- MBition GmbH
- Ovo Automotive
Devices for entertainment and information are termed as automotive infotainment systems, which include systems for connectivity, safety, navigation, and entertainment as well as systems for optimizing fuel efficiency. Improvements in the electronics and telecommunications industries have resulted in the creation of vehicle infotainment systems, which direct customer priorities based on maintenance, navigation, and safety.
Automotive entertainment systems have experienced rapid expansion in recent years owing to the enduring popularity of electronic gadgets. Automobiles frequently employ infotainment systems. Automobiles are equipped with satellite-based navigation systems called GPS systems.
According to this analysis, the Global Automotive Infotainment Systems Market was valued at ~US$ 10 billion in 2017. The development of an infotainment system for vehicles as a technology that integrates information and entertainment has attracted the attention of automakers.
There is now more consumer flexibility to purchase passenger automobiles in emerging countries owing to rising disposable income and simple financing alternatives, which has led to a rise in demand for technologically advanced vehicles with practical entertainment systems, such factors are likely to fuel the market expansion of Automotive Infotainment Systems in the forecasted period.
The market for automotive infotainment systems is anticipated to develop as connected automobiles become more widely used as consumers are preferring connected automobiles with advanced infotainment systems.
A significant trend that is becoming widely attractive in the automotive infotainment market is technological advancement. New technologies are finding its way into the automotive infotainment sector, such as android-based in-car entertainment systems.
The touchscreen infotainment, might distract drivers and increase the risk of an accident. Using the system to change the radio station, change the channel, set up the next navigation route, or turn the radio on or off does not require the driver to glance away from the road and at the screen which is constraining the market for automotive infotainment systems over the forecasted period.
The COVID-19 pandemic had an inevitable impact on the automotive infotainment systems market, which is primarily driven by growing automotive sales and production. Production and sales of automobiles gradually grew in various regions of the world as a result of continuing lockdowns and the closing of manufacturing plants.
Scope of the Report
The Global Automotive Infotainment Systems Market is segmented into By Product Type, Installation Type, Fit and Vehicle Type. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion
By Product Type
- Audio unit
- Display unit
- Heads-Up display
- Navigation unit
- Others
By Installation Type
- In-dash Infotainment
- Rear-seat Infotainment
By Fit
- OE Fitted
- Aftermarket
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
By Geography
- North America (USA, Canada, and Mexico)
- Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East, and Africa)
Key Players
- Denso Corporation
- Continental AG
- HARMAN International
- Pioneer Corporation
- Robert Bosch GmbH
- Visteon Corporation
- Panasonic Corporation
- Marelli Holdings Co., Ltd
- JVCKENWOOD Corporation
- Mitsubishi Electric Corporation
Key Trends by Market Segment
By Product Type – The navigation unit by product type dominated the market in 2021, a navigation tool enables determining the present location using GPS, which relies on a satellite, and provides detail on traffic, directions, and weather conditions.
- GPS automobile navigation systems provide the most efficient route based on real-time traffic information, as well as extra locations of interest including banks, gas stations, hospitals, and restaurants
- For increased awareness while driving, navigation systems are designed to provide voice or visual instructions as well as driver alarms. Car GPS navigation systems are available as standard equipment or as consumer add-on accessories
By Installation Type – The in-dash Infotainment segment accounted for the highest market share in 2021, owing to the demand for feature-rich in-dash entertainment systems and smartphone app connectivity.
- Attractive visuals and quick, access, and control functions have been added to in-dash entertainment systems on a constant basis, making them more user-friendly and responsive
- The majority of brand-new passenger cars , trucks, and SUVs are equipped with modern infotainment systems that greatly outperform earlier models
By Fit – OE Fitted accounted for the highest market share in 2021 because OE systems are protected by the manufacturer’s insurance and cannot be purchased separately.
- The advantages of OE-fitted systems include simpler and more convenient servicing and maintenance, which are frequently protected by the warranty offered by the automobile manufacturer
- The ability to access automotive data provided by OE-fitted systems is an additional advantage that enables businesses to launch direct marketing campaigns and issue alerts for service and support
By Vehicle Type – Passenger cars accounted for the highest market share in 2021, as consumers, most often in developing countries are rapidly adopting premium cars.
- The volume of passenger cars on the road in Asia Pacific is rapidly increasing, owing to an increase in utility vehicle demand in densely populated countries such as China, India, and Japan
- According to the Society of Indian Automobile Manufacturers, SIAM, in September 2022, wholesale sales of passenger vehicles in India increased in August 2022 by 21%. Compared to August 2021, when passenger vehicle (PV) sales were 2, 32,224 units, in August 2022 they were 2, 81,210 units
- By Geography: Asia Pacificaccounted for the largest market share among all regions in 2021, owing to the presence of major automakers like Denso Corporation, Pioneer Corporation, Panasonic Corporation, JVCKENWOOD Corporation, and Mitsubishi Electric Corporation
Customers favor augmented reality technology-based solutions due to its effectiveness, resulting in the driving market for automotive infotainment systems to expand in the region.
The high rate of adoption of automotive infotainment systems in nations like China, which manufactured the greatest number of automobiles globally, is responsible for the growth of the industry in Asia Pacific.
For more information about this report visit https://www.researchandmarkets.com/r/nygipd
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