Global In Car Infotainment Market Insights 2024, Forecast To 2033
10 Oct, 2024
The in-car infotainment market size has also seen strong growth in recent years, expected to expand from $19.70 billion in 2023 to $21.49 billion in 2024, with a compound annual growth rate (CAGR) of 9.1%. This historical growth can be attributed to the increasing demand for integrated GPS navigation systems, growth in cloud services usage, rising popularity of infotainment systems featuring augmented reality, demand for connected car services, and improved availability of in-car internet access. In the coming years, the market size is projected to grow to $30.65 billion in 2028, achieving a CAGR of 9.3%. The anticipated growth during this forecast period can be linked to the rising demand for advanced driver assistance systems, the adoption of electric vehicles, the need for high-definition displays, a demand for multi-modal connectivity, and an increasing number of infotainment systems. Key trends expected to emerge include technological advancements, integration of artificial intelligence, adoption of advanced voice recognition systems, 5G connectivity, and augmented reality.
Major Driver In The In Car Infotainment Market
The demand for electric vehicles (EVs) is expected to significantly boost the in-car entertainment market in the years to come. Electric vehicles operate using electric motors powered by batteries, presenting an alternative to traditional internal combustion engines. Several factors fuel the demand for EVs, including technological advancements in artificial intelligence that enhance autonomous driving capabilities and a growing awareness of climate change. In-car infotainment systems play a crucial role in electric vehicles by integrating advanced connectivity and user interface technologies, which are essential for autonomous driving and enhancing user experiences. For instance, the International Energy Agency reported in September 2022 that electric vehicle sales surged to 6.6 million in 2021, nearly doubling from 3 million in 2020, representing almost 9% of total vehicle sales, with an increase of 4.1 percentage points that year. Thus, the rising demand for electric vehicles is anticipated to propel the in-car entertainment market, expected to reach $7.5 billion in 2023, $8.9 billion in 2024, and $12 billion by 2028.
Request A Free Sample Of The In Car Infotainment Market ReportIn Car Infotainment Market Competitive Landscape
Major companies operating in the in-car infotainment market are Mitsubishi Electric Corporation, Sony Corporation, Intel Corporation, Panasonic Corporation, Continental AG, Denso Corporation, Qualcomm Technologies, Inc., Hyundai Mobis, Pioneer Corporation, Texas Instruments Incorporated, Faurecia SA, DXC Technology Company, Harman International, Garmin Ltd., Visteon Corporation, Fujitsu Ten Ltd., LG Electronics Inc., TomTom International BV, Alpine Electronics Inc., Valeo, JVCKenwood Corporation, Robert Bosch GmbH, Clarion Corporation, Huawei Technologies Co. Ltd., Blaupunkt GmbH
Key In Car Infotainment Market Trend
Major companies in the in-car infotainment market are focused on developing innovative technologies, such as the Android automotive infotainment system, to enhance user experience and incorporate advanced features into their automotive offerings. The Android automotive infotainment system is an operating system that integrates vehicle infotainment systems. For instance, in November 2023, Snapp Automotive, a Germany-based manufacturer of infotainment systems, unveiled SnappOS, an automotive infotainment system built on the Android automotive OS. This new system seamlessly integrates with Google's Android platform, providing drivers access to various apps directly through the infotainment screen. It includes advanced voice recognition capabilities for hands-free control of navigation, music, and communication functions. Additionally, the system supports real-time updates and personalized recommendations based on user preferences and driving habits, ensuring a customized experience.
Purchase The Global In Car Infotainment Market Report Directly And Get A Swift DeliveryGlobal In Car Infotainment Market Segmentation
The in-car infotainment market covered in this report is segmented –
1) By Product: Display Unit, Head-Up Display, Navigation Unit, Communication Unit
2) By Component: Hardware, Software
3) By Installation: Original Equipment Fitted, Aftermarket
4) By Application: Passenger Cars, Commercial Vehicles
By Geography:The regions covered in the in-car infotainment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the in-car infotainment market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The In Car Infotainment Global Market Report 2024 furnishes information about the global in car infotainment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.