The rising demand for advanced driver assistance systems (ADAS), infotainment systems, and telematics is attributing to the growth of the global automotive infotainment market.
Arizton’s recent market research report on the automotive infotainment market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market 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) and offers detailed competitive analysis.
The automotive infotainment market is expected to generate revenues of around $22 billion by 2023 and is projected to grow at a CAGR of more than 5% during the forecast period.
The introduction of advanced interactive entertainment systems will transform the global automotive market.
The top 3 drivers and trends are propelling the growth of global automotive infotainment market are discussed below:
Increasing Demand for Vehicles with Infotainment Systems
The increasing requirement for using telematics and high-end infotainment systems especially in the mid-priced cars segment is propelling the growth of the global automotive infotainment market. The leading OEMs and electronics suppliers in the automotive industry are investing in the development of manufacturing processes that help in reducing the cost of these systems in the global market. The availability of low-cost infotainment systems will enable vendors to integrate these systems in lightweight vehicles and commercial vehicles. The introduction of systems that offer personalized entertainment, navigation, and connectivity will help vendors to occupy a larger automotive infotainment market size. The integration of advanced features such as connectivity with smartphones will help transform the global market during the forecast period.
Emerging Economies Driving Market Growth
The increasing demand for passenger cars from emerging nations such as China, Brazil, India, and South Africa is augmenting to the growth of the global automotive infotainment market. The rapid economic development and elevated purchasing power in these regions will boost the demand for advanced infotainment systems in the automotive industry. China is the world’s largest automotive manufacturer, and India is rapidly growing and developing its automotive market.
The intense competition in the global market is encouraging vendors to focus on these emerging countries to explore new growth avenues and increase their market shares.
The leading OEMs are also collaborating with the regional players to explore new opportunities and access the automotive infotainment market size in these regions. For instance, Ford recently collaborated with Changan an Auto and BMW sells its cars in China through Brilliance China Automotive.
Growing Electrification of Automotive Mechanics
The growing focus on environmental pollution, regulations on vehicular emissions, and the need to increase fuel economy are encouraging vendors to adopt electrification of automotive mechanics. The innovations in the electrification of automotive mechanics will boost the demand in the global automotive infotainment market. The introduction of electronic systems such as anti-lock braking, electric parking brake, and advanced driver assistance systems (ADAS) will revolutionize the global automotive industry. The development of electric powertrain in vehicles will enable vendors to invest in the exploration of alternative propulsion technologies in the global market. The growing popularity of hybrid electric vehicles and electric vehicles will boost the demand for superior infotainment systems in the global market during the forecast period.
The leading vendors in the global automotive infotainment market are Alps Electric, Clarion, Continental AG, Denso, HARMAN International (Samsung), Panasonic Corporation, and Pioneer.
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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