Global In-vehicle Infotainment Market Overview
The key driver impacting the in-vehicle infotainment market is the growing technological advancement in the in-car entertainment industry. Technological advances such as user interface, voice recognition, and intuitive touch-screen technologies in the vehicle infotainment systems are adding growth to the market. Also, the growing use of smartphone connectivity and cloud services in vehicles positively impacts market growth. Moreover, rising regulatory norms from the government related to safety contribute to In-vehicle infotainment market demand in the coming years.
According to Value Market Research, the global In-vehicle Infotainment market size was valued at about USD 23500 million in 2020 and is estimated to grow at a CAGR of around 10% during the forecast period 2021 to 2027.
The growing awareness and demand for comfort and safety in the vehicle among users are likely to augment the market demand in the forecast period. For instance, In 2018, the U.S. annual vehicular casualty rate was 36,360; and about 94% of crashes resulted from human error. Autonomous vehicles have the potential to eliminate/decrease human error and reduce deaths. The AVs have the potential to lessen crashes by 90%, potentially saving about $190 billion every year. The growing safety concerns could probably lead to the high usage of autonomous vehicles and connected cars, thus positively Impacting market growth in the coming years. However, the high cost of advanced technologies and services in infotainment systems may hamper the market in the long run. Also, the lack of seamless connectivity is negatively impacting the market. Nevertheless, the current industry trends, such as developments in ride-sharing and mobility services, and the emergence of various technologies such as 5G and Artificial intelligence, are expected to offer several beneficial market opportunities to the key players.
The In-vehicle infotainment market is vast, with many local and global players. The In-vehicle infotainment market is extensive, with many regional and international players. The market leaders follow various strategies to enhance their position in the market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The prominent players studied in the report include Alpine Electronics, Inc., Pioneer Corporation, Garmin Ltd, Panasonic Corporation, HARMAN International, TomTom International BV, Clarion, Mitsubishi Electric Corporation, Robert Bosch GmbH, Continental AG, DENSO CORPORATION., Delphi Technologies, JVCKENWOOD Corporation, Visteon Corporation, Pioneer Corporation, AISIN SEIKI Co., Ltd., Bose Corporation, Blaupunkt, and Magneti Marelli S.p. A.
In this research report, the In-vehicle infotainment market is segmented by location, vehicle type, form, and region.
Analysis by Location:
By location, the report is categorized into the front row and rear row. The front row segment dominates the delivery mode segment with over 55% share in 2020. It is due to rising penetration of front row infotainment, and all vehicles with an infotainment system has a front-row display. Moreover, front row infotainment provides users with distinct kinds of information (weather forecast, navigation, internet, etc.), and entertainment (video and audio) services contribute to the growth of the front row segment in the forecast period.
Analysis by Form:
By form, the report is categorized into embedded, tethered, and integrated. The embedded form segment dominates the end-user segment with over 40% share in 2020. It is due to the rising government regulations and cost optimization of service plans. Moreover, most of the safety and security in-vehicle infotainment services have limited or no access without an embedded form type in the car, thus contributing to the growth of the embedded form segment in the forecast period.
Analysis by Vehicle Type:
By vehicle type, the report is categorized into LCV, passenger car, and HCV. The passenger care segment dominates the end-user segment with over 70% share in 2020. It is because passenger car drivers are progressively more adapting to the latest digital technologies. Moreover, new innovations, such as voice-based command systems and gesture control for multimedia, are expected to drive the in-vehicle infotainment industry, thus contributing to the growth of the passenger car segment in the forecast period.
Analysis by Region:
In the regional outlook of the global In-vehicle infotainment market, the Asia Pacific region dominates globally with a 35% market share in the forecast period. It is due to the growing demand for comfort, luxury, entertainment services, high-end information services, and rising government regulations concerning safety and security. Also, the increasing focus of automakers of this region on upgrading their infotainment technology to keep up with the high rate of expanding competition at the global level positively impacts market growth. Moreover, the rising demand for premium cars due to mounting GDP, rising per capita income, and increased purchasing power contribute to the tremendous market growth across the Asia Pacific.
Market Segmentation Covered in the Report:
By Vehicle Type
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.