In-Car Infotainment Market Size ($30 Bn by 2032 at 7.9% CAGR) Global Analysis by Market.us

Advertisement

The head-up display (HUD) market holds the largest market share of 31%, according to product analysis. The incorporation of AR technology, which combines cameras, sensors, Wi-Fi, and GPS to provide real-time information while driving, is expected to be integrated into HUD systems soon.

New York, April 18, 2023 (GLOBE NEWSWIRE) — The global In-Car Infotainment Market size is expected to be worth around USD 30 billion by 2032 from USD 14.5 Billion in 2022, growing at a CAGR of 7.9% during the forecast period 2023 to 2032.

In-Car Infotainment Market By Product

Advertisement

Due to increased demand, manufacturers are increasing including systems that promote in-car comfort, enjoyment, and convenience in automobiles. Manufacturers recognize that such features can influence consumers’ purchasing decisions. Customers in emerging economies can now afford luxury or high-end vehicles equipped with these systems. Technological advancements such as advanced graphic user interfaces, speech recognition, and intuitive touchscreens, these developments indicate strong growth for the car infotainment industry over the estimated period.

To get additional highlights on major revenue-generating segments, Request an In-Car Infotainment Market sample report at https://market.us/report/in-car-infotainment-market/request-sample/

Key Takeaway:

  • By product, in 2022, the Head-up display market dominates the market with a 31% market share.
  • By application, the commercial vehicle sector dominates the market with a 67% market share.
  • By Component, the software sector dominates the market with a 58% market share.
  • In 2022, APAC dominated the market with the highest revenue share of 39%.
  • North America is anticipated to have the highest CAGR among all the regions in the forecasted period.

Factors Affecting the Growth of the In-Car Infotainment Industry

  • Technological Developments: The rapid pace of technological advancement has been a major driver in the growth of the In-Car infotainment industry. Advancements in software, hardware, and connectivity technologies have allowed the creation of increasingly advanced and sophisticated infotainment systems for cars.
  • Consumer Preferences: As consumer preferences evolve, more people are gravitating towards connected, tech-savvy vehicles that provide a range of features and functionalities. In-car infotainment systems have become an integral factor in purchasing decisions of buyers; consequently, automakers are investing heavily in developing and integrating these systems into their vehicles.
  • Increasing Demand for Connectivity: Consumers are searching for vehicles that provide seamless connectivity with their mobile devices and other connected devices. In-car infotainment systems that offer advanced connectivity features like Wi-Fi, 4G/LTE, and Bluetooth are expected to see significant growth over the coming years.
  • Government Regulations: Governments around the world are introducing regulations to improve road safety and reduce distracted driving. As a result, in-car infotainment systems designed to minimize driver distraction and enhance safety can increase the adoption of In-car infotainment systems.

To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/in-car-infotainment-market/#inquiry

Market Growth

The in-car infotainment market has seen tremendous growth over the past few years and is expected to keep expanding. This refers to entertainment, communication, and information systems installed in automobiles. The growth of the in-car infotainment market can be attributed to several factors. Firstly, there is an increasing demand for connectivity and entertainment features in vehicles, particularly among younger customers who increasingly use their cars as mobile entertainment centers. Secondly, electric and autonomous vehicles are becoming more commonplace, fuelling demand for more advanced infotainment systems that offer a seamless driving experience.

Regional Analysis

By regional analysis, Asia Pacific dominates the market with a 39% market share. Over the forecast period, the Asia Pacific regional automotive entertainment industry is projected to experience rapid growth. Consumers’ increasing disposable income allows them to purchase passenger cars with the most modern amenities, and rising premium car sales in China are anticipated to contribute significantly to this sector’s expansion. Furthermore, rising smartphone adoption and an uptick in demand for in-car infotainment systems that integrate smartphone technology are expected to fuel regional market development during this time.

Have Queries? Speak to an expert or Click Here To Download/Request a Sample

Scope of the Report

Report Attribute Details
Market Value (2022) USD 14.5 billion
Market Size (2032) USD 30 Billion
CAGR (from 2023 to 2032) 7.9%
APAC Revenue Share 39%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

  • Technological Advancements: Recent technological advances, such as high-speed internet connections, mobile devices, and artificial intelligence (AI), have enabled car makers to introduce cutting-edge infotainment features.
  • Increasing Demand for Connectivity: Consumers are increasingly searching for ways to stay connected while on the go, and in-car infotainment systems offer a convenient way to access the internet, make phone calls, and stream music and videos.
  • Rising Disposable Income: As disposable income levels rise, more consumers can afford cars with advanced infotainment systems and are willing to shell out more money for premium features.
  • Consumer Preferences Shifting: As customers seek vehicles that provide a more personalized and convenient driving experience, in-car infotainment systems can deliver on this by offering features like voice recognition, touch screens, and customized entertainment options.
  • Government Regulations: Governments around the world are mandating automakers to install safety features in their vehicles, and in-car infotainment systems can play an integral role in improving driver safety by offering tools like collision warning systems and lane departure warnings.

Market Restraints

  • High Cost: The development and installation costs for in-car infotainment systems can be quite high, which may limit adoption rates among cost-conscious consumers.
  • Fragmented Market: The in-car infotainment market is highly fragmented, with numerous players offering competing products and services. This makes it challenging for consumers to navigate the space and restricts individual companies’ growth potentials.
  • Security Concerns: In-car infotainment systems can be vulnerable to cyberattacks, which could compromise driver safety and privacy. This poses a significant concern for consumers and could limit adoption rates if security issues aren’t adequately addressed.
  • Technical Complexity: In-car infotainment systems can be quite intricate, which may put off some consumers who may feel intimidated by the technology.
  • Limited Internet connectivity: In some areas, internet access may be patchy or non-existent, which may limit the functionality of in-car infotainment systems and reduce their appeal to potential buyers.

Market Opportunities

  • Integration of Augmented Reality: The incorporation of augmented reality (AR) technology into in-car infotainment systems presents an exciting growth prospect. AR can be utilized to provide drivers with up-to-the-minute info about their environment, such as traffic conditions, weather updates, and navigation directions without distracting them from driving.
  • Increasing Adoption of Electric Vehicles: The growing adoption of electric vehicles (EVs) presents an excellent growth opportunity in the in-car infotainment market. EVs often come equipped with sophisticated infotainment systems that offer features such as energy monitoring, battery charging information, and range estimation.

Grow your profit margin with Market.us – Purchase This Premium Report at https://market.us/purchase-report/?report_id=32774

Report Segmentation of the In-Car infotainment market

Product Insight

By Product Analysis, the Head-up display market dominates the market with a 31% market share. On the basis of Product, the market is divided into Audio Units, Display Units, Head-up Displays, Navigation Units, and Communication Units. AR technology, which integrates cameras, sensors, Wi-Fi, and GPS to deliver dynamic information while driving, will soon be included in head-up display (HUD) systems. Though such an arrangement can help drivers make informed decisions, there are growing worries that too much data may distract them and compromise both driver and passenger safety. Due to the addition of sophisticated multimedia and safety components such as rear-view cameras and comprehensive information displays to these displays, their size is increasing exponentially. Due to the proliferation of 4G LTE networks, communication equipment is becoming more reliable, enabling advanced onboard features like 3D navigation, hands-free calling, satellite radio, and media streaming. Furthermore, efforts are underway to deploy 5G networks which will further increase connection options available in infotainment systems.

Application Insight

Analysis of the application sector reveals that the commercial vehicle sector commands the majority share of the market with 67% share. By segmenting the in-car infotainment market based on car type analysis, companies can identify the unique needs and preferences of customers with various vehicles. Luxury sedan owners may desire high-end systems with advanced features like voice recognition or gesture control; commercial fleet owners might require infotainment systems with fleet management or logistics tracking capabilities. Through segmentation, companies are better able to develop products tailored specifically for different car types.

Component Insight

By component analysis, the software sector dominates the market with a 58% market share. By segmenting the in-car infotainment market by components, companies can identify specific areas where they should concentrate their efforts and resources. For instance, a software development firm could focus on creating better user interfaces or navigation software; similarly, hardware companies specialize in improving display screens or audio systems.

Installation Type Insights

By installation type, aftermarket segmentation commands the market with a 60% share. On the basis of installation, the market is segmented into Original Equipment Manufacturer (OE) fitted and Aftermarket segments. As aftermarket suppliers provide in-car infotainment systems at lower costs, demand for these systems is expected to expand throughout the forecast period. Although aftermarket systems can be customized to customer preferences, their popularity is expected to increase. Furthermore, in-car entertainment aftermarket suppliers are working alongside OEMs in an effort to enhance their existing solutions. Original equipment manufacturer (OEM) products tend to be costly and standardized, leaving little room for customization. Authorized dealers and distributors can assist you in acquiring these items. These goods provide advantages such as faster and simpler repairs/maintenance, often covered by the automobile manufacturer’s guarantee. OEM-fitted systems also give companies access to vehicle data so they can run direct marketing campaigns or issue service/support warnings more effectively.

Recent Development of the In-Car Infotainment Market  

  • Expansion of Electric Vehicle Infotainment: With the growing popularity of electric vehicles, there has been an increased focus on developing in-car infotainment systems tailored specifically for them. For instance, some manufacturers are now providing features like real-time energy monitoring and charging station locators.
  • Advancements in Voice Recognition Technology: Voice recognition technology has long been a priority for in-car infotainment system designers, with recent improvements providing more accurate and natural language processing capabilities.
  • Integration with Smart Home Technology: In-car infotainment systems are being designed to integrate with smart home technology, allowing drivers to control devices such as thermostats and security systems from their cars.
  • Increased Focus on Driver Safety: In-car infotainment systems are increasingly designed with driver safety in mind, featuring features such as hands-free operation and collision avoidance systems becoming more prevalent.
  • Integration with Cloud-Based Services: In-car infotainment systems are increasingly relying on cloud-based services for real-time updates like traffic updates and weather forecasts.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/in-car-infotainment-market/request-sample/

Market Segmentation

Based on Product

  • Audio Unit
  • Display Unit
  • Head-up Display
  • Navigation Unit
  • Communication Unit

Based on component

  • Hardware
  • Software

Based Application

  • Passenger cars
  • Commercial Vehicle

Based on the Installation type

  • OEM
  • Aftermarket

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The major companies in the in–car infotainment systems market include:

  • Volkswagen AG 2023
  • Harman International
  • Ford Motor Company
  • ALPS ALPINE CO., LTD
  • AUDI AG
  • BMW AG
  • Continental AG
  • PANASONIC CORPORATION
  • PIONEER CORPORATION
  • SAMSUNG ELECTRONICS CO.
  • VISTRON CORPORATION
  • Other companies

Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us On LinkedIn Facebook Twitter

Our Blog: 

CONTACT: Global Business Development Team – Market.us Market.us (Powered By Prudour Pvt. Ltd.) Email: [email protected] Address: 420 Lexington Avenue, Suite 300, New York City, NY 10170, United States Tel: +1 718 618 4351 Website: https://market.us 

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.