The automotive infotainment market size is predicted to reach USD 20.05 billion by 2026, exhibiting a CAGR of 6.8% during the forecast period. The rising shift towards enhanced in-vehicle experience will augment the healthy growth of the automotive infotainment market revenue during the forecast period.
The efforts of the automotive manufacturer for adding new features and infotainment solutions to provide ease and comfort in driving will boost the market growth of automotive infotainment in the forthcoming years. Besides, the rising integration of V2X connectivity solutions, ADAS systems, telematics devices, sensors, and others in automotive will have a positive impact on the automotive infotainment market share in the foreseeable future.
According to the report, published by Fortune Business Insights, titled “Automotive Infotainment Market Size, Share & Industry Analysis, By System Type (Dashboard, Rear Seat), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicle), By Market Type (OEMs, aftermarket), and Regional Forecasts, 2019-2026” the market size stood at USD 11.94 billion in 2018.
An Overview of the Impact of COVID-19 on this Market:
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The report is fixed at delivering a comprehensive description of the automotive infotainment market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the infotainment market. It further examines the ways and components convincing expansion, growth patterns, restricting factors, and market strategies.
Market Driver:
Innovation in Navigation Systems to Promote Market Growth
The increasing production of technologically advanced infotainment systems in automobiles owing to the necessity for safe and smart vehicles will enable speedy growth of the market in the forthcoming years. The rising emphasis on improved in-vehicle experience will spur opportunities for the market. For instance, the innovative and advanced infotainment systems are equipped with pre-trip planning, parking recommendations, predictive navigations,cloud-enabling syncing, and other important features.
The rising popularity of smartphone connectivity in cars will fuel demand for advanced infotainment systems. For instance, smartphones can be paired with the infotainment system using WiFi hotspot or Bluetooth connectivity, allowing the user to access features such as outgoing, incoming, and conference calls on the system. Moreover, the growing improvement and advancement in navigation systems such as voice command, touch screen GPS navigator, maps and directions clarity, driver alert, and user-friendly features will contribute positively to the automotive infotainment market trends.
Lists of Key Companies in the Automotive Infotainment Market Report Includes;
- MMI navigation
- Harman International Industries Inc.
- Visteon Corporation
- Denso Corporation
- Robert Bosch GmbH
- Aptiv PLC
- Alpine Electronics
- Pioneer Corporation
- Panasonic Corporation
- Mitsubishi Electric Corporation
- Samsung Electronics
Regional Analysis:
High Adoption of Electric Vehicles to Stimulate Growth in Asia Pacific
The market in Asia Pacific stood at USD 6.36 billion and is expected to witness a high growth rate during the forecast period owing to the high automotive sales in the region. The growth in the region is also attributed to the rising adoption of electric vehicles in China and Japan. The growing government implications and initiatives for electric vehicles will aid the market in the region.
The rapid technological advancements in manufacturing facilities in emerging regions such as China, India will have a positive influence on the market. Europe is predicted to hold the second-largest share in the market owing to the presence of major car brands. The rising shift from conventional cars to hybrid cars will bolster the healthy growth of the market during the forecast period. The market in North America is predicted to observe healthy growth during the forecast period owing to the presence of major automotive manufacturers in the region.
