The global In-Vehicle Infotainment Market is expected to reach USD 52.76 Billion by 2027, according to a new report by Emergen Research. Numerous in-vehicle infotainment systems with cutting-edge features have been developed as a result of the increased focus on driver comfort and convenience. Such features give the driver a thorough understanding of the car, which enhances safety and the driving experience. Since smartphones are the most significant networking gateways used by an infotainment system, they will have a big impact on the market for in-vehicle entertainment
The need for improved driving experiences is also anticipated to drive the in-vehicle infotainment systems sector throughout the forecast period. However, these devices come with hefty installation fees and are mostly found in high-end and luxury vehicles. The expansion of the market for in-vehicle entertainment systems is predicted to be hampered by inadequate security and privacy concerns.
Globally, the COVID-19 outbreak had a significant influence on the automotive industry, which resulted in a sharp decline in sales, a shortage of raw materials, and other problems. Numerous small and large participants in the automobile industry are dealing with problems including production halts and government-mandated plant closures, among others. As a result of COVID-19, car OEMs and several participants in advanced mobility have also been particularly heavily hit. A direct long-term influence on the automotive industry may result from this as a result of macroeconomic dynamics and shifting customer tastes. The COVID-19 epidemic has imposed several changes on our daily lives, and the automotive sectors are watching for how changes in consumer behavior may impact the sales of passenger cars.
Some Key Highlights from the Report :
The head-up display segment is anticipated to develop at the fastest rate over the forecast period, with a consistent CAGR. The most recent augmented reality technology is included in the head-up display. It meets the demand of the market by providing information while driving using a combination of sensors, cameras, GPS, and Wi-Fi.
The In-Vehicle Infotainment sector is expected to be driven by direct competition between OE installed and aftermarket items since the former is based on quality while the latter is mostly price-driven. Therefore, it is anticipated that OE products will be in high demand in developing nations.
A few notable participants are Continental AG, Panasonic Corporation, Harman International, Alpine Electronics, Pioneer Corporation, Denso Corporation, Visteon Corporation, Delphi Automotive PLC, Clarion Co., Ltd., and JVC KENWOOD Corporation.
The Asia-Pacific region, which includes China, India, Japan, South Korea, and the rest of Asia-Pacific, is included in the study’s scope. During the anticipated period, Asia Pacific will hold the biggest market share for in-vehicle entertainment systems. Due to the availability of labor at cheaper wages, lower manufacturing costs, laxer car safety regulations, and the government pushing for FDIs in the region both before and after COVID-19, it saw a greater rise in vehicle production than in Europe and North America.
Emergen Research has segmented the global In-Vehicle Infotainment Market based on product, fitting, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Fitting Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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