The increased need for safety, comfort, and aesthetic elements in automobiles has resulted in numerous technological breakthroughs.
An infotainment system refers to a comprehensive set of sophisticated technologies that are built into automobiles to provide entertainment, information, connectivity, and communication services. To give entertainment and information to drivers and passengers, touchscreens, the entire system employs audio/video (A/V) interfaces, keypads, and other sorts of gadgets.
Bluetooth, interactive speech recognition services, Wi-Fi connectivity, smart technologies, and live media streaming, for mobile integration, are all possible with advanced infotainment systems. These developments are aiding expansion in infotainment system market reaching over USD 38 billion with an estimated CAGR of 8% in 2021-2028.
The automotive infotainment system is placed in automobiles and is used to improve the in-car experience. It is also used for information and entertainment purposes like car diagnostics, navigation, and so on. The automobile infotainment system includes keypads, touch screens, audio, and video interfaces, and other hardware and software that provide the driver with comfort and safety while driving.
Countries all around the world are seeing an increase in demand for improved infotainment choices in automobiles. The rise of disposable income globally is pushing demand for entertainment systems. This system often incorporates navigation and diagnostic systems that may be accessible by keypads, touch displays, a variety of software, and, in some cases, an auditory-visual interface. These factors are pushing the global market for infotainment systems.
The trend of urbanization is increasing at an exponential rate, resulting in an increase in the average income of the urban population, allowing them to improve their lifestyles. Furthermore, increased demand for passenger automobiles is driving manufacturers to boost commercial vehicle output. This, in turn, is expected to bolster the global automotive infotainment system market in the near future.
Manufacturers of cutting-edge infotainment systems provide capabilities such as pre-trip planning, parking advice, predictive navigation, cloud-enabled synchronization, and other critical functions. Smartphones may be connected to automobile entertainment systems through a Wi-Fi hotspot or Bluetooth. By connecting the smartphone to the infotainment system, the user gains access to phone functions. Users are aggressively investing in automotive infotainment system to ensure hassle-free in-vehicle experience not only in terms of comfortable drive, navigational access, and parking cues, but also attending to urgent calls of professional and personal significance.
Adroit Market Report's market research provides a thorough analysis of market dynamics from 2018 to 2028, including critical information on growth drivers, constraints, opportunities, and obstacles. The market has been discovered to have the potential for growth for the historic years 2018 to 2020, utilizing 2020 as a base year, and for the forecast years 2021 to 2028, which include market evaluations and future prospects.
The research includes a list of all the main players in the infotainment system market, as well as a thorough analysis of the tactics that the firms are employing. To stay competitive in the market, the tactics mostly involve new product developments, R&D, revenue shares, company overview, and current business developments.
Based on the product type segment, the communication unit segment accounted for the lion's share of total market volume, accounting for roughly 24% of the total market volume. Communication devices have grown more trustworthy as a result of the introduction of the 4G LTE network, allowing advanced onboard capabilities like 3D navigation, hands-free calling, satellite radio, and media streaming.
Based on the fit type, The OE fitted segment had the greatest revenue share in 2020, accounting for over 72% of the whole market. OE-fitted goods are more expensive and give less customization because they are standardized.
Based on geography, the Asia Pacific will have the largest revenue share of the global market in the near future. This increase can be attributed to the region's increasing passenger car sales and production. Rising income levels and rising car demand in the region have fuelled the growth of the luxury and mid-sized premium vehicle categories.
Some of the prominent players functioning in this market are Pioneer Corporation, Alpine Electronics, Panasonic Corporation, Visteon Corporation, Continental AG, Denso Corporation, Delphi Automotive PLC, Harman International, Clarion Co., Ltd., and JVC KENWOOD Corporation. These firms have large product lines and powerful worldwide distribution networks. To maintain their market positions, these firms employ methods such as new product development, partnerships, and contracts and agreements.
Key Segments of the Global Infotainment System Market
Product Type Overview, 2018-2028 (USD Billion)
- Audio Unit
- Heads-Up Display
- Display Unit
- Communication Unit
- Navigation Unit
Fit Type Overview, 2018-2028 (USD Billion)
- OE Fitted
Vehicle Type Overview, 2018-2028 (USD Billion)
- Commercial Vehicles
- Passenger Cars
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa