Market Research Future (MRFR) projects the automotive infotainment market to reach USD 48.2 billion at a CAGR of 8.51% from 2022-2030 (forecast period).
In-Vehicle Infotainment Systems to Witness
Bolstering Demand
The market is expanding due to the rising
demand for infotainment systems and a preference for driver assistance systems
(DASs). Due to the growing popularity of DAS, automotive players are becoming
more interested in vehicle automation. They invest much in R&D to advance
technical advances. In addition, increased demand for vehicles equipped with
DASs propels the global automotive infotainment market forward.
Furthermore, important driving factors such as
greater support for open-source and standard platforms for application
development, as well as availability for smartphone integration with IVI
systems, bolster demand for in-vehicle entertainment systems. Rising demand for
infotainment systems, increased vehicle production, and integration of
infotainment with other systems drive market expansion.
AI-based Automotive Infotainment Systems Offer
Significant Opportunities
The increasing adoption of self-service
applications, voice search technology, and driver assistance systems propels
market expansion. The increased demand for AI automotive infotainment, as well
as advancements in artificial intelligence and other infrastructure-oriented
technologies drive market expansion. Emerging economies with increasing use of
vehicle infotainment systems and rapid automation in manufacturing sectors will
provide global enterprises with several chances in the future.
The Global Market to Expand Post COVID-19
Pandemic
The COVID-19 pandemic has helped to
re-establish the relevance of automation and the most desired connected
technologies, such as connected cars, artificial intelligence, and infotainment
systems. While pandemic-related logistics issues encouraged manufacturers to
investigate new automation technologies to counter higher wages and increase
efficiency, many consumers engaged in DIY projects to keep themselves engaged
and improve their car comforts.
As a result, the worldwide automotive
infotainment industry began to gain steam, with continuous increases in
automation spending. Driver assistance systems are becoming more popular in the
automobile sector, according to in-vehicle infotainment systems. Automation and
autos remain at the forefront due to the Internet of Things (IoT) and AI-enabled
voice assistance. The COVID-19 pandemic has piqued the public's interest in
voice controls. Many innovative product introductions occurred in the market in
2020, and this trend is expected to continue.
Regional Analysis
North America to Dominate the Global Market
North America leads the global automotive
infotainment market and will continue to do so during the evaluation period.
North America is a mature economy with significant investments in the
automobile industry, which is undergoing major development.
Furthermore, factors such as rising passenger
car demand, major expenditures in expanding technology, and the availability of
a diverse variety of innovative infotainment devices promote market expansion.
In terms of value, the United States controls the North American automobile
infotainment industry.
APAC to Hold the Second Largest Share
The Asia Pacific holds the second-largest share
of the worldwide market. The region is, without a doubt, one of the most
promising regions for the global automobile market. Factors like emerging
economies and their growing GDP, as well as rising per capita income, have
provided enormous opportunities for both the automotive sector and the
infotainment business. Furthermore, the shift in manufacturing bases of several
worldwide automotive infotainment providers, as well as technical improvements,
affect the growth of the automotive infotainment market.
Europe is Emerging as a Strong Market for
Automotive Infotainment Systems
Europe is quickly emerging as a viable market,
with a high increase projected over the forecast period. Europe's thriving
automobile sector promotes the expansion of the automotive infotainment market.
Furthermore, the growing demand for a premium or luxury vehicles has
considerably aided the expansion of the European automotive infotainment
market.
The European automotive infotainment market
benefits from R&D efforts carried out by major automobile manufacturers
such as BMW, Volkswagen, Ford, and Renault. The automotive infotainment market
is predicted to gain a significant pace throughout the review period, with
manufacturers installing infotainment systems in entry-level vehicles in order
to gain a larger market share.
Key Players
Continental AG (Germany), Alpine Electronics,
Inc. (Japan), Harman International (US), Pioneer Electronics (US), Panasonic
Corporation (Japan), DENSO Corporation (Japan), Garmin Ltd. (Switzerland),
Delphi Automotive PLC (UK), KENWOOD Corporation (Japan), and ALLGo Embedded
Systems Pvt. Ltd. (India).
Competitive Landscape
Given the presence of established
manufacturers, the
automotive infotainment market size appears to be extremely fragmented. To
gain extra impetus, prominent firms seek possibilities to integrate across the
extended value chain while focusing on boosting production capabilities,
R&D investments, and M&A activity. They provide dependable,
cutting-edge solutions and services while spending heavily on the development
of capable technologies and products.
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