Market Analysis
Market Research Future (MRFR) projects the automotive infotainment market to reach USD 44.73 billion at a CAGR of 8.51% (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.
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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.
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 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.
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 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.
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