In-Car Infotainment Market Overview
In-car infotainment is a collection of wide features installed in the car to provide entertainment, information and communication services. It possess climate control, navigation, Wi-Fi, Bluetooth, interactive voice recognition services, live media streaming services and smart technology for mobile integration. Driven by the demand for more connected vehicles, in-car infotainment is getting more and more sophisticated. Car makers and electronics and software developers’ work together to come up with user-friendly, safe and easy to use in-car infotainment system.
Market Size and Forecast
In-car infotainment market is expected to garner a CAGR of 9.3% over the forecast period i.e. 2017-2024. Increasing number of automobiles on road, burgeoning middle class population and inclination in the adoption of technologically advanced cars are some of the factors anticipated to impel the growth of in-car infotainment market in the next few years.
Geographically, Europe is expected to dominate the global in-car infotainment market over the forecast period. In Europe, Germany and the U.K. are the leading markets for in-car infotainment. The rising demands for high-performing cars in these countries provide lucrative opportunities for the manufacturers in Europe. However, Eastern Europe and North American countries such as Mexico and Canada still have the potential market in in-car infotainment systems due to increasing capacity of vehicle production and as well as the need for better in-car infotainment system.
However, Asia-Pacific ranks as the highest growing market, supported by the fact that the current rising GDP is largely driven by Asia. India, China and Japan are some of the highly attracting market for in-car infotainment in the region. Moreover, factors such as improvement in discretionary spends and consumers proclivity towards luxury cars also fostering the growth of technologies in this region. Middle East and Africa is expected to show the highest growth rate over the forecast period. Improvement in GDP of these countries and rising demand for passenger car integrated with in car-infotainment system is expected to impel the growth of in-car infotainment market in Middle East and African region. Similarly, Latin America is also expected to showcase a rise in in-car infotainment market growth owing to increasing sales of luxury cars.CLICK TO DOWNLOAD FREE SAMPLE REPORT
Our in-depth analysis segmented in-car infotainment market in the following segments:
By Distribution Channel
Global in-car infotainment market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rising disposable income coupled with increasing purchasing power of consumer is envisioned to bolster the growth of global in-car infotainment market. Further, increasing demand, production and sales of technologically advanced cars are other key drivers anticipated to intensify the growth of in-car infotainment market during the period 2017-2024.
Moreover, rising urbanization and easy financing options are believed to anticipate the sales of cars all across the globe which is further likely to expand the growth of in-car infotainment market during the forecast period.
The in-car infotainment market is gaining momentum with increase in demand for luxury cars integrated with various features for entertainment, climate control, navigation and others.
However, higher price for in-car infotainment systems and need to upgrade the system software timely is likely to hamper the growth of in-car infotainment market in future. Moreover, the distraction caused by in-car infotainment services to the driver while driving in terms of safety norms taken by government is an another factor anticipated to hinder the growth of the in-car infotainment market.
The major key players for in-car infotainment market are as follows:
Scope and Context
Overview of the Parent Market
The global in-car infotainment market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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