The new report by Expert Market Research titled, ‘ Global In-Car Infotainment System Market Size, Share, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global In-Car Infotainment System market, assessing the market based on its segments like installation type, component and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 1 billion
- Forecast CAGR (2023-2028): 12%
- Forecast Market Size (2026): USD 42.8 billion
The Global In-Car Infotainment System market has seen decent growth in the historical period with the increasing need for driver assistance and growing concern of driver safety. Also, recent advancements and breakthroughs in technology has also driven the growth of the market in the historical period.
Industry Definition and Major Segments
The in-car infotainment system is often referred to as the in-vehicle infotainment system (IVI). It is a term used in the automotive industry to describe vehicle systems that provide entertainment and information to drivers and passengers. To provide these facilities, IVI systems employ audio/video (A / V) interfaces, touchscreens, keypads, and other types of devices.
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The types of installation can be divided into:
- OEM Installation
- Aftermarket Installation
Component wise, the market can be divided into:
- Hardware
- Audio
- Video
- Connectivity
- Others
- Software
The global market for In-Car Infotainment System includes:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
With the advent of mobile technology, networking, and other advancements, there is a growing need for the incorporation of artificial intelligence to provide a virtual personal assistant with active voice command to guide drivers, proactively. Rising disposable income levels in emerging economies, especially in Asia Pacific, allow customers to spend on high-end and luxury vehicles equipped with these systems.
Technological advancements have also resulted in the inclusion of sophisticated visual user interfaces, voice recognition, intuitive touchscreens, and other features of these systems. Both factors bode well for the in-car infotainment market’s growth over the forecast period. Other factors driving industry growth include the increasing trend of vehicle electrification and new active safety legislation (e.g., telematics requirements in Europe).
Key Market Players
The major players in the market Visteon Corporation, Delphi Automotive Plc., Ford Motor Company, Bayerische Motoren Werke AG (BMW), Denso Corporation, Fujitsu Ten Limited, Panasonic Corporation and few others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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