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The industry of consumer electronics is revolutionizing at a fast-tracking pace year after year. GPUs as well as processors are becoming faster and day by day apps are getting sophisticated. Car buyers are also becoming more tech-savvy owing to regular usage of tablets and smartphones. Their expectations related with infotainment as well as connectivity of in-vehicle had never been higher. Yet, a clear gap is still maintained in between technology components of automotive long cycle and customer electronics short cycle. Due to advancement in technology, user experience of traditional in-vehicle have constrained as the vehicle systems hardware lives for more than 20 years on the road.
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Moreover, automotive standards used to be stringent in nature and always look for developing a new system of infotainment that can remain good for at least two smartphone generations. And with this rate, the system becomes outdated much before the vehicle comes on the road. For customers and manufacturers, who got frustrated and also struggled a lot with this kind of antiquated car systems, this is the real issue with the industry of consumer electronics. The global auto infotainment market is estimated to grow 6.0% globally over the forecast period and is anticipated to reach a market valuation of US$ 31.96 Bn by 2024.
Factors that are impacting the growth of auto infotainment market include rising penetration of smartphones and their role in daily life, rising compact passenger car sales, an increasing awareness of safety and security in automobile functioning. Some other factors that are driving the global market of auto infotainment are the increasing demand for vehicle customization, increasing consumer expenditure on luxury items and increasing growth of consumer inclination towards an entertaining driving experience in automotive sector. On the other hand,
subsequent fall in the sales of vehicles due to economic crisis in certain regions as well as while driving drivers’ distraction in handling auto infotainment systems are hampering the growth of auto infotainment market.
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Globally, the market for auto infotainment is classified into driver assistance system, connectivity system, entertainment system and others. Among these, the segment of entertainment system type is expected to register a healthy compound annual growth rate over the forecast period. Also, in terms of vehicle type, the global market of auto infotainment is fragmented into high commercial vehicle, light commercial vehicle, and passenger cars. And among these, the passenger cars segment of vehicle type is projected to exhibit a higher growth rate during the forecast period as compared with the segment of light commercial vehicle type. Additionally, in terms of sales channel, the global market of auto infotainment is bifurcated into aftermarket and OEM. And among these, the segment of aftermarket sales channel is expected to present high growth rate as compared with the segment of OEM sales channel.
Key Players
DENSO Corporation, HARMAN International, Garmin Ltd, Continental AG, FUJITSU TEN LIMITED, and Delphi Automotive LLP, among others are some of the major companies functioning in the global market for auto infotainment market. These market leaders are looking forward to increase their existing facilities related with production in several market that are emerging fast along with their strategic investments done for making technological innovation and certain research & development initiatives for expanding their brand equity. Also, these organizations are focusing on differentiating their portfolio of their product. And they are shifting their way from channelization of single sales in order to increasing their profitability as well as market growth.
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The Market Research Future (MRFR) recently published a research report In-Car infotainment Market that provides the full market forecast through 2022, acknowledging an impressive growth record.
In its analysis, MRFR asserts that the global In-Car Infotainment market will grow exponentially, registering a moderate CAGR during the review period (2016 – 2022).
Delivering all this while keeping the passengers ‘safety in mind, these systems perform various tasks for drivers in a hands-free mode.The Automotive infotainment market growth will lead to the increased adoption of media-oriented systems transport technology to simplify system upgrades and prolong the lifecycle of embedded infotainment.
Several automobile manufacturers such as BMW and Ford have already started adopting and implementing media oriented systems transport technology in their automobiles.Global In-Car infotainment Market – Competitive AnalysisWell-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.Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/1153 Key Players: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 – SegmentsIn-Car Infotainment Market can be segmented into 4 key dynamics for the convenience of the report and enhanced understanding;By Components : Hardware (Display Units, Audio Units) & SoftwareBy Vehicle Type :Passenger cars, Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs) among others.By Connectivity :V2V, Mobile, and Voice control among others.By Installation :OEM and Aftermarket.Segment - Hardware Component, leads the market with the largest share and is expected to retain the dominance further during the forecast period.Segment - OEM Installation, accounting for a substantial rate of CAGR presages a powerful growth during 2017-2022.Regional AnalysisNorth America stands the second largest market for the In-Car infotainment, owing to the spurting automotive industry in the region.
The global in-car infotainment market can achieve a remarkable CAGR during the forecast period (2018-2023), says the latest report furnished by Market Research Future (MRFR).Primary Drivers and Top BarriersIn-car infotainment system is a blend of numerous features that are integrated into cars.
These types of systems are used for managing audio & video content, in addition to providing updates as well as information on traffic conditions along with weather forecast.
The worldwide in-car infotainment market can note a double-digit growth rate in the years ahead, thanks to the rising use of high-performance interfaces, including human-machine interfaces (HMI), operating controls and control units.
Other than this, infotainment systems also help connect a vehicle with other vehicles backed by the Internet.
Regional InsightThe geographical distribution of the in-car infotainment market is considered for Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW).Europe, out of all the regions, accounts for the largest share of the in-car infotainment market.
North America is expected to have a substantial growth in the global in-car infotainment market, given the presence of a large number of renowned players including Ford motors.
Hardware components include LCDs, GPS, Wi-Fi, and camera among others, whereas, software component consists of an operating system, application software, and navigation maps.Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1153The key drivers for the market of in-car infotainment systems are the increasing need for driver assistance and growing concern of driver safety.
Infotainment systems also ensure the safety of the vehicle by providing real-time footage of the surroundings, which helps guided parking where visuals are displayed on the LCD screen.
However, infotainment systems can sometimes distract the driver which raises safety concerns and is against regulatory compliance taken by government; these concerns can act as major restraining factors for the growth of the market.
Moreover, the high installation cost of in-car infotainment systems is expected to hinder the growth of market in the forecast period.A recent trend in the In-Car Infotainment Market is the integration of artificial intelligence for providing a virtual personal assistant with active voice command to proactively guide drivers.
Moreover, infotainment systems in vehicles is responsible for connecting the vehicle with other vehicles via the Internet.
Ford partnered with Amazon to use the capabilities of the digital assistance — Alexa into their infotainment systems which provides user virtual assistance which reduces the driver distraction.SegmentationBy component, the market is segmented into hardware and software.
