Global Automotive Infotainment Systems Market Size Accelerates at 8.8% CAGR, anticipating $56 Billion by 2030, as Automakers Compete for Innovative Technologies, Meeting the Surge in Mobility Services and Luxury Car Preferences
The modern vehicle's infotainment system is compatible with all smart automotive technologies, including 2X connectivity solutions, ADAS systems, smartphones, telematics devices, and sensors. These developments are predicted to increase the automotive infotainment market's growth at a high CAGR throughout the forecast period.
New York, United States, Nov. 09, 2023 (GLOBE NEWSWIRE) -- One of the rapidly expanding technologies in the automotive sector is automotive infotainment. The increase in mobile technologies is projected to fuel the growing trend. Due to the rising need for safety and comfort, the infotainment systems market will play a vital role in helping to make automobiles more personalized as the need for more customized transportation grows globally. According to Straits Research, “The global automotive infotainment systems market size is expected to reach USD 56 billion, growing at a CAGR of 8.8% by 2030.” During the forecast period, automakers fiercely compete to implement cutting-edge infotainment systems for their new car models. The increasing demand for mobility services (like ridesharing or taxi services), the rising demand for luxury cars, particularly in emerging economies like India, and the increased emphasis on comfort, convenience, and safety are the main reasons for propelling the market's expansion.
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*Growing Advancement in Infotainment Systems Drives the Global Market*
Increasing numbers of smartphone functionalities are being integrated into in-vehicle infotainment systems. In North America and Europe, more than 90 percent of adults have a mobile Internet connection, which is among the highest rates in the world. Mobile phone usage has increased, and so have smartphones in cars for the same goals. Automobile manufacturers are going for modular hardware design, which reduces the cost of purchasing infotainment systems. They are also developing low-cost technology that will allow smartphone functions to be integrated into in-vehicle infotainment systems.
The sophisticated infotainment system provides passengers with more than simply radio and music. In addition, storage devices and communications can support several band frequencies for 3G and 4G connectivity. Also, anyone can link to infotainment systems to play music, listen to podcasts, and make phone calls while maintaining seamless integration between the vehicle and the device. Additionally, the need for rear seat infotainment systems has increased over time. Cars with built-in infotainment systems will gain a more significant market share if smartphones are used to control these systems.
*Increasing Innovations to Improve In-Vehicle User Experience Creates Tremendous Opportunities*
The whole automotive industry is moving toward developing breakthrough technologies to provide improved connection solutions, promote vehicle safety, and enhance vehicle user experience. Moreover, automotive infotainment is one of the most powerful technologies that is a hub for all modern automobile systems and merge their operations into a single central unit. The manufacturers are concentrating on adding more features to their infotainment systems to make travel as enjoyable and convenient as possible. The modern vehicle's infotainment system is compatible with all smart automotive technologies, including 2X connectivity solutions, ADAS systems, smartphones, telematics devices, and sensors. These developments are predicted to increase the automotive infotainment market's growth at a high CAGR throughout the forecast period.
*Regional Analysis*
Asia Pacific accounted for the largest market share and is expected to grow at a CAGR of 8.9% during the forecast period. The transition from simple audio systems is driving China's need for infotainment systems to touchscreen infotainment systems that enable numerous services, like navigation, Apple CarPlay, Android Auto, and telematics. Moreover, owing to government assistance, it is anticipated that Japan will lead the global in-vehicle entertainment system implementation during the forecast period. For example, the Japanese Ministry of Economy, Trade, and Sector (METI) indicated in 2019 that it might push the automobile industry to deepen and expand areas of collaboration in preparation for the era of Connected, Autonomous, Shared, and Electric vehicles (CASE).
North America is expected to grow at a CAGR of 8.8%, generating USD 12 billion during the forecast period. Major global players are headquartered in the country and are collaborating with local technology titans to develop new customer-facing solutions. In 2019, Mitsubishi Electric Corporation Americas launched the FLEXConnect, the company's latest in-vehicle infotainment demonstration platform. MaaS is a high-performance, integrated demonstration system based on the Qualcomm® SnapdragonTM automotive cockpit platforms of the third generation. It includes several configurable infotainment features that automakers may use to differentiate their vehicles and deliver distinctive in-vehicle experiences. Major automakers in the country are investing in cutting-edge technology to make their vehicles future-ready and to provide customers with the best driving experience.
Germany is the leading producer of passenger cars among European Union member states. The automotive industry in the nation contributes to more than 29 percent of the total EU automobile market. Volkswagen, Daimler AG, and BMW are the dominant players in the German automobile business. According to statistics, the German automobile industry produces about 6 million vehicles yearly, including passenger and commercial vehicles. The increasing prevalence of autonomous vehicles has prompted automakers to prioritize driver assistance systems and infotainment systems, mainly back seat infotainment systems.
*Key Highlights*
· By installation type, the global automotive infotainment systems market is segmented into in-dash infotainment and rear seat infotainment. In-dash infotainment accounts for the largest market share and is expected to grow at a CAGR of 8.8% during the forecast period.
· By vehicle type, the global automotive infotainment systems market is segmented into passenger cars and commercial vehicles. Passenger car accounts for the largest market share and is expected to grow at a CAGR of 8.9% during the forecast period.
· Asia Pacific accounted for the largest market share and is expected to grow at a CAGR of 8.9% during the forecast period.
*Competitive Players*
The key players in the global automotive infotainment systems market are Denso Corporation, Robert bosch GMBH, Continental AG, Harman International Industries Inc., Magnetic Marelli SpA, JVC Kenwood Corporation, Alpine Electronics Inc., Mitsubishi Electric Corporation, Visteon Corporation, Pioneer Corporation, and Aptiv PLC.
*Market News*
· In July 2022, Bosch intends to transform its Mobility Solutions division into a profit-and-loss-responsible business segment. As a result of the evolution of the mobility industry, customer requirements are shifting. The goal of Bosch Mobility Solutions’ reorganization is to provide tailored technology and solutions to existing and new customers from a single source.
· In June 2022, Bosch BASF Smart Farming GmbH, the joint venture between Bosch and BASF Digital Farming, intends to establish a commercial sales collaboration for its Smart Spraying solution with Stara, the largest agricultural machinery manufacturer in Brazil.
· In July 2022, Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its "SUSTIE®" Net Zero Energy Test Facility had obtained Platinum-level WELL Building Standard™ certification. This international certification evaluates the extent to which a building environment supports the well-being of its occupants.
*Global Automotive Infotainment Systems Market: Segmentation*
*By Installation Type*
· In-dash Infotainment
· Rear Seat Infotainment
*By Vehicle Type*
· Passenger Car
· Commercial Vehicle
*By Regions*
· North America
· Europe
· Asia-Pacific
· Rest of the world
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