The global In-Vehicle Infotainment Market is estimated to be valued at US$ 24.85 Bn or Mn in 2023 and is expected to exhibit a CAGR of 10.8% % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The in-vehicle infotainment market deals with connectivity solutions for entertainment, navigation, and after-market audio systems installed in motor vehicles. In-vehicle infotainment systems provide drivers and passengers in-car entertainment and information through audio– video interface, simultaneous connectivity to smartphones and digital maps integrated into the car along with augmented reality maps for guidance and real-time traffic updates.
Market key trends:
The advent of advanced telematics, connectivity solutions and development of autonomous driving technologies are expected to drive the demand for in-vehicle infotainment systems during the forecast period. Growing preference for connected vehicles equipped with advanced driver assistance systems and high performance computing solutions is a major trend in the automobile industry. Integration of advanced technolgies like 5G, AI assistance and cloud computing in infotainment systems is revolutionizing the driving experience. Continuous innovation in semiconductor chips, displays and connectivity standards are improving the processing power and visual quality of infotainment units. Increasing demand for experience based infotainment, especially among younger demographics is influencing automobile manufacturers to provide enhanced functionality, smartphone integration and over-the-air updates in vehicles.
SWOT Analysis:
Strength: In-Vehicle Infotainment systems offer connected car experience and ease of access to navigation, entertainment, and communication features. They enhance the driving experience.
Weakness: High development and procurement costs associated with ongoing development of technologies can pose affordability challenges especially for budget vehicle segments. Dependence on smartphones also reduces the need for independent infotainment systems.
Opportunity: Growing demand for connectivity and personalization in vehicles opens up opportunities for advanced features around AR/VR integration, AI assistants and over-the-air updates.
Threats: Stricter regulations around driver distraction risks need to be addressed. Tech giants like Google and Apple also pose competition with their connected ecosystems.
Key Takeaways:
The Global In-Vehicle Infotainment Market Size is expected to witness high growth, exhibiting CAGR of 10.8 %over the forecast period, due to increasing demand for connected driving experiences.
Regional analysis: Asia Pacific region is expected to dominate the In-Vehicle Infotainment market owing to high vehicle production hubs in China, India and Japan and growing demand for advanced features. Europe and North America are also major markets driven by high vehicle parc and consumer demand for tech-enabled mobility solutions.
Key players operating in the In-Vehicle Infotainment market are Panasonic Corp Denso, Harman International, Tom-Tom, Continental AG, Bosch, Blaupunkt Inc., Magneti Marelli, Alpine Electronics Inc., Kenwood, Delphi, Visteon, Clarion Corp., Bose, Pioneer, and Aisin. Players are focusing on partnerships, customization and over-the-air updates to expand into adjacent mobility areas like autonomous driving as the market evolves.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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