The automotive rear seat infotainment market size is predicted to grow at a 12.5% CAGR in the forecast period (2020- 2027), as per the latest Market Research Future (MRFR) report.
Drivers
Rapid Innovations in Automobile Industry to Boost Market
Growth
The
rapid innovations in automobile industry in propulsion technology, engine
structure electrification, infotainment systems, and protection devices will
boost the global automotive rear seat infotainment market value over the
forecast period.
Opportunities
Development in Industry 4.0 Infrastructure to offer Robust
Opportunities
The
development in industry 4.0 infrastructure will offer robust opportunities for
the automotive rear seat infotainment market in the forecast period.
Other
factors adding to the automotive rear seat infotainment market growth include
increasing demand for infotainment systems in automobiles, rise of autonomous
vehicles, increased consumer focus on connected and hybrid cars, growing
preference towards premium features in passenger cars, the rising disposable
income of the people, and increasing demand and sales of vehicles.
Restraints
Design Complexity to act as Market Restraint
The
design complexity of automotive rear seat infotainments may act as market
restraints over the forecast period.
Challenges
Data Security Issues to act as Market Challenge
Data
security issues will act as a market challenge over the forecast period.
COVID-19 Analysis
The
global automotive rear seat infotainment market has been immensely affected by
the COVID-19 outbreak. Supply chain
disruptions, economic situations, fluctuations in demand share, as well as
long-term & immediate effect of the COVID-19 pandemic possessed a negative
effect on the market growth. The pandemic has slowed down economic activity and
pushed the economy into a steep recession. With the roots being in China, the
supply chains in the world are facing shutdown and unprecedented disruption.
The COVID-19 outbreak has impacted the overall economy and the society. The
impact of the crisis is going up daily and is impacting the supply chain. The
crisis is making uncertainty in the stock market, immense slowing of the supply
chain, decreasing business confidence, and growing panic among customers.
Owing to lockdown
across the globe, there has been a fall in the demand for automobile and auto
parts thus impacting the market. After the virus emerged, the sale of cars
declined by about 80%. The sector has cancelled top events like the Geneva
Motor Show for the fear of transmitting the infection. The manufacturing sector
of China contracted owing to the outbreak of the COVID-19. In the European
Union, the automotive industry is likely to observe a decline owing to
reduction in spare parts and automobile exports from China. This affected the
global automotive rear seat
infotainment market share in the market.
Market Segmentation
The
automotive rear seat infotainment market is bifurcated based on operating
system, technology types, and end user.
By
operating system, the QNX segment will lead the market over the forecast
period.
By
technology, the multimedia player segment will dominate the market over the forecast
period.
By
end user, the OEM segment will spearhead the market over the forecast period
for the increasing demand for automotive entertainment units with better
quality, warranty, high lifespan, and the surging need for company fitted products.
Regional Analysis
North America to Lead Automotive Rear Seat Infotainment
Market
North
America will lead this market in the forecast period. Rising need for passenger
cars, increase in R&D by automotive rear-seat entertainment manufacturers,
the US being the leading producers of industrial parts and automotive, the
semiconductor companies in the United States are focusing on developing
advanced automotive infotainment system & catering to the automotive
aftermarket across the globe, the rising need for passenger vehicle, and the
increasing number of research and development activities are adding to the
global automotive rear seat infotainment market growth in the region.
Europe to Have Admirable Growth in Automotive Rear Seat
Infotainment Market
Europe
will have admirable growth over the forecast period. Growing research and
development by key players, the presence of major market players in France and
Germany, the growing investments in the development of connected and autonomous
vehicles, and the increase in government regulations towards safety are adding
to the global automotive rear seat infotainment market growth in the region.
Key Players
Eminent players
profiled in the global automotive rear seat
infotainment industry report include Pioneer Electronics (US), Alpine
Electronics, Inc. (Japan), Delphi Automotive PLC (UK), Continental AG
(Germany), Harman International (US), Panasonic Corporation (Japan), Denso
Corporation (Japan), Garmin Ltd (Switzerland), KENWOOD Corporation (Japan), VOXX Electronics Corp. (US), and Visteon Corporation
(US).
The
automotive
rear seat infotainment market is fragmented and also competitive for the
presence of different international & domestic key players. These players
have incorporated innovative strategies to remain at the vanguard and also
suffice the burgeoning demand of the customers including collaborations,
contracts, partnerships, joint ventures, geographic expansions, & new
product launches, and more.
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