In-Car infotainment Market To Perceive Exponential Growth By 2023 Registering A Decent CAGR. Global In-Car Infotainment Market, By Component (Hardware, Software), Vehicle Type (Passenger cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Connectivity (V2V, Mobile, Voice Control), Installation (OEM, Aftermarket)— Forecast till 2023.
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Fervent key players, including, Ford Motor (US), Volkswagen Group (Germany), General Motors Company (US), Denso Corporation (Japan), Harman International Industries (US), Fujitsu Ten Limited (Japan), Panasonic Corporation (Japan), Visteon Corporation (US), BMW (Germany), and Delphi Automotive (UK) are leading the In-Car infotainment market. Profiling them in its analysis MRFR finds out the strategies keeping them at the forefront of the market competition.
Global In-Car infotainment Market – Synopsis
In-Car Infotainment (ICI) systems refer to assisting the driver with information, entertainment, and communication. Equipped with advanced technology like sensors, GPS, and the internet these systems feature automotive navigation systems, and automatic climate control systems as well. Delivering all this while keeping the passengers ‘safety in mind, these systems perform various tasks for drivers in a hands-free mode.
Obeying voice commands, these systems even enable phone calling, listening to incoming and sending outgoing SMS text messages, and accessing Internet-enabled or smartphone-enabled content such as traffic conditions, sports scores, and weather forecasts. Offering many such convenient features, In-Car Infotainment systems are becoming more and more popular among consumers. Led by the popularity, the market of these systems is ever increasing.
Acknowledging the impressive growth records, the global ICI Market perceives, Market Research Future (MRFR) recently published a study report giving out the complete market forecast till 2022. In its analysis, MRFR asserts that the global In-Car Infotainment market will grow exponentially, registering a moderate CAGR during the review period (2019 – 2022).
Global In-Car infotainment Market – Competitive Analysis
Well-established players having a strong presence in the international and regional market adorn the global In-Car infotainment market as highly competitive and fragmented. At present, Key players operating in the market of automotive infotainment are fervent to invest heavily on NMACS (Networking, Mobility, Analytics, Cloud, and Security) which is bound to transform the consumer and business landscape in the future.
All players are fiercely competing to gain a substantial market share. Manufacturers are working upon enhancing and delivering end-to-end connected vehicle solutions. Matured players incorporate collaboration, acquisition, partnership, product & technology launch, and expansion, to gain competitive advantage and to stay abreast in this market.
Industry/ Innovation/ Related News
May 10, 2018 – Technology giants Intel & Google collaborating with automobile giant Volvo Cars introduced the latest Android (P) OS (Operating System), running Google applications that Intel will be powering – Volvo’s next-gen in-car infotainment systems at the Google I/O conference, held on May 10, 2018.
Offering advanced features like access to the Android app ecosystem, voice recognition via Google Assistant, and the ability to use Google Maps, the new infotainment system rules off the necessity to get connected to the smartphones via Android Auto.
By component, the market is segmented into hardware and software. The hardware is further sub-segmented into display units and audio units.
By vehicle type, the market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles.
By connectivity, the market is segmented into V2V, mobile and voice control.
By installation, the market is segmented into OEM and aftermarket.
By region, the market is segmented into North America, Asia-Pacific, Europe, and the rest of the world.
In-Car infotainment Market – Regional Analysis
Globally, Europe accounts for the leading market for In-Car infotainment, accounting for the highest market share. Growing with the well-established automotive industry coupled with the presence of numerous matured manufacturers in the region the Europe market is expected to continue with its dominance in the global market during the forecast period. Also, resurging economy provides impetus to the market growth by enhancing consumers’ purchasing power and spending on luxury cars further.
North America stands the second largest market for the In-Car infotainment, owing to the spurting automotive industry in the region. Besides, advancements and wide uptake of technology in the region coupled with the market proliferation of the infotainment systems contribute to the regional market growth. Continuing with the same growth trends the region is expected to gain momentous accruals during the forecast period.
Whereas the Asia Pacific region accounts for the substantial market share, emerging as the fastest growing market in the Global In-Car infotainment Market. Owing to the growing markets in some of the APAC countries like India, Japan, China, Korea and Australia, backed by the increasing demand for these systems, the region is expected to register a phenomenal growth rate during the review period.
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