The Global In-Car Infotainment Market can achieve a remarkable CAGR during the forecast period (2018-2023), says the latest report furnished by Market Research Future (MRFR).
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Primary Drivers and Top Barriers
In-car infotainment market is a blend of numerous features that are integrated into cars. These features provide information, communication and entertainment services. In-car infotainment can be described as the complete section of navigation and climate control information. These types of systems are used for managing audio & video content, in addition to providing updates as well as information on traffic conditions along with weather forecast. Modern infotainment systems come with a variety of connectivity options such as Wi-Fi and Bluetooth, live media streaming service, smart technology for mobile integration and interactive voice recognition services, to name a few.
Thriving smartphone industry coupled with aggrandized use of cloud technology has done wonders for the in-car infotainment market in recent years. The worldwide in-car infotainment market can note a double-digit growth rate in the years ahead, thanks to the rising use of high-performance interfaces, including human-machine interfaces (HMI), operating controls and control units. But, complexity of in-car infotainment devices could be a major stumbling block for the market during the review period. Having said that, these challenges will not have a significant effect on the market, given the rising opportunity within the market in the form of personalization facility.
One of the latest trends in the in-car infotainment market includes the increasing integration of artificial intelligence which provides a virtual personal assistant that uses active voice command to guide drivers. Other than this, infotainment systems also help connect a vehicle with other vehicles backed by the Internet. Connected vehicles aid in accelerating vehicle safety, offering environmental benefits by curbing traffic congestion, and improving user experience in the car.
The market for in-car infotainment has been studied on the basis of segments like component, vehicle type, connectivity and installation.
With respect to component, the market can be considered for software and hardware. The hardware section can be categorized into display units and audio units.
Depending on the vehicle type, the market caters to light commercial vehicles, passenger cars, and heavy commercial vehicles.
Connectivity-wise, the market can be broken down into V2V, mobile, and voice control.
In terms of installation, the market includes original equipment manufacturers (OEMs) and aftermarket.
The geographical distribution of the in-car infotainment market is considered for Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW).
Europe, out of all the regions, accounts for the largest share of the in-car infotainment market. Soaring demand for in-car infotainment within the automobile industry is one of the chief reasons for the said market growth. European Union has mandated telematics control in automobiles primarily in passenger cars, which could boost the growth of the in-car infotainment market in the region.
North America is expected to have a substantial growth in the global in-car infotainment market, given the presence of a large number of renowned players including Ford motors. Ford motors recent partnered with Amazon for developing advanced infotainment systems. These kinds of marketing hacks adopted by players help the market reach greater heights in the region. Additionally, bigshots such as General Motors and Apple Inc. are working on enhancing the user experience with the use of infotainment systems.
APAC could be the fastest-growing market in the coming years, thanks to the rising demand for luxury cars coupled with surging disposable income of people. India, China, and Japan are some of the most attractive markets for in-car infotainment in the region. Also, shift from basic audio systems to touchscreen infotainment systems with multiple features like Apple CarPlay, navigation, Telematics, Android Auto, etc. augment the demand for infotainment systems in the region.
Some of the significant companies molding the worldwide in-car infotainment market include General Motors Company (US), Visteon Corporation (U.S.), Denso Corporation (Japan), Delphi Automotive (UK), Panasonic Corporation (Japan), BMW (Germany), Apple Inc (US), Volkswagen Group (Germany), Fujitsu Ten Limited (Japan), Harman International Industries (US), Ford Motor (US), to mention a few.
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