Automotive Infotainment Market in APAC to Worth $7 Billion by 2023
Arizton’s recent market research report on the automotive infotainment market identifies Alps Electric, Clarion, Continental AG, Denso, HARMAN International (Samsung), Panasonic Corporation, and Pioneer as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by product (audio-only, display audio, and embedded infotainment - navigation), by vehicle type (economy cars, luxury cars, and mid-priced cars), by geography (APAC, Europe, Latin America, North America, and MEA).
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The automotive infotainment market is divided into three major segments that include by product, by vehicle type, and by geography.
APAC to dominate the automotive infotainment market share during the forecast period
The automotive infotainment market by geography is segmented into APAC, Europe, Latin America, North America, and MEA. APAC dominated the total market share in 2017 and is projected grow at a CAGR of over 5% during the forecast period.
China accounts for the largest market share in the APAC market followed by Japan, South Korea, and India.
The exponential growth in automotive production and sales in the APAC is driving the demand in the market in this region. The increasing number of passenger cars and growing demand for sophisticated systems will revolutionize the APAC market over the next few years. The economic development and improving lifestyles in countries such as Vietnam, Thailand, the Philippines, and Indonesia will create new opportunities for prominent vendors in the automotive infotainment market in APAC. Furthermore, the development of the luxury automotive, high-end products, EVs, and HEVs will help vendors launch new products in the APAC market.
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Display-audio segment to grow at an impressive CAGR in automotive infotainment market during forecast period
The product segment in the automotive infotainment market is classified into audio-only, display audio, and embedded infotainment - navigation. Display audio systems are the fastest growing product segment in the market at a CAGR of approximately 18% during the forecast period. The exponential sales of mid-priced vehicles are boosting the demand for these innovative systems in the global market. The increasing demand for mid-priced cars from emerging nations especially from APAC and Latin America will help vendors launch new products in the market. The key companies are focusing on equipping vehicles with high-end display audio systems to satisfy end-customers and gain a larger share in the global market. The integration of navigation and communication technologies in systems are expected to transform the global automotive industry during the forecast period.
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Luxury cars segment to grow at a significant CAGR in automotive infotainment market during forecast period
The automotive infotainment market by vehicle type is divided into economy cars, luxury cars, and mid-priced cars. Luxury cars are the fastest-growing vehicle segment in the market at a CAGR of more than 8% during the forecast period. The rising trend of autonomous driving in the global market and innovative operating systems is propelling the growth of this segment. The introduction of highly advanced and sophisticated systems in the luxury car segment will boost the demand for these systems in the global market. The prominent leaders are also offering added functionalities such as navigation, song selection, and surrounding data to occupy a larger automotive infotainment market size over the next few years. The incorporation of comprehensive and premium units in luxury cars will help players attract new consumers in the global market.
The other prominent players in the automotive infotainment market are Aisin, Aptiv, Desay, Flex, Ford, Garmin, Kyocera Corporation, LG Electronics, Magneti Marelli, Mitsubishi Electric, Mobis, Bosch, Tom-Tom, Valeo, and Visteon Corporation.
The complete overview of the latest market research report on global automotive infotainment market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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