by on February 23, 2024
16 views

IN-VEHICLE INFOTAINMENT systems refers to audio-video and navigation systems fitted permanently in automobiles. These systems enable drivers to access and navigate between multimedia entertainment and information while driving. They provide features such as navigation, connectivity, music playback, climate control, and hands-free telephone operation among others. Growing demand for enhanced driving experience and safety is a key driver for adoption of these systems across various vehicle segments.

The Global In-Vehicle Infotainment Market Size is estimated to be valued at US$ 28.63 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the IN-VEHICLE INFOTAINMENT market are BASF SE, Evonik Industries AG, Clariant International AG, Croda International PLC, DowDuPont Inc., Solvay SA, Arkema S.A., Akzo Nobel N.V., Mitsubishi Chemical Corporation, A. Schulman, Inc. Growing demand for luxury vehicles fitted with advanced infotainment and connectivity features is propelling the market growth. Major automakers are also focusing on incorporating customized and integrated infotainment systems tailored for fleet customers. Rapid advancements in areas of AI, IoT, 5G connectivity and advanced multimedia solutions are further enhancing the driver experience.

Market Trends
The emergence of advanced telematics control units with support for latest connectivity standards like 4G LTE and 5G is enabling seamless integration of infotainment with cloud and assistive driving functions. Growing preference for large multi-display cockpits is also a key trend in premium vehicles targeted at millennial buyers. Automakers are also exploring augmented reality and holographic interfaces to modernize infotainment displays.

Market Opportunities
The scope of infotainment is expanding from passenger vehicles to commercial fleet, trucks and off-highway vehicles. Growing demand for advanced fleet management solutions is encouraging OEMs to develop specialized ruggedized infotainment for commercial applications. Integration of advanced technologies like AI assistants, augmented reality mapping and biometric authentication also opens up new opportunities in this market over the forecast period.

Impact of COVID-19 on IN-VEHICLE INFOTAINMENT Market Growth
The COVID-19 pandemic has significantly impacted the growth of the IN-VEHICLE INFOTAINMENT market. In the initial phases of the pandemic, lockdowns and restrictions enforced by various governments globally resulted in the closure of automotive production facilities. This led to a steep decline in vehicle sales across major markets, negatively impacting the demand for IN-VEHICLE INFOTAINMENT systems. Additionally, economic uncertainties created by the pandemic discouraged consumers from making discretionary purchases of new vehicles equipped with advanced infotainment systems.
However, as economies are gradually reopening post lockdowns, the automotive industry is witnessing a revival in demand. Many leading automakers are focusing on integrating innovative connectivity features to offer enhanced in-car experience to users and differentiate their offerings. Also, greater emphasis on safety, hygiene and contactless technologies is prompting automakers to accelerate the development of advanced infotainment solutions with integrated e-commerce and m-commerce capabilities. While challenges around electronic component supply shortages persist, the post-COVID growth outlook for the IN-VEHICLE INFOTAINMENT market remains positive driven by continuous innovation and new product launches aligning with evolving user preferences.

IN-VEHICLE INFOTAINMENT Market Value Share by Geographical Regions
In terms of value, North America currently holds the largest share of the global IN-VEHICLE INFOTAINMENT market, backed by high vehicle parc and rapid adoption of advanced automotive technologies. The United States contributes significantly to the regional market supported by presence of leading automakers and infotainment system manufacturers. Europe stands as the second largest regional market benefitting from strict safety norms and demand for luxurious vehicles integrated with state-of-the-art connectivity and comfort features. Meanwhile, the Asia Pacific region has emerged as the fastest growing market for IN-VEHICLE INFOTAINMENT systems given rising expendable incomes, increasing vehicle ownership and launch of affordable vehicles by Chinese OEMs with sophisticated infotainment offerings.

Fastest Growing Region for IN-VEHICLE INFOTAINMENT Market
The Asia Pacific region holds immense growth potential for the IN-VEHICLE INFOTAINMENT market over the forecast period. Countries such as China and India are anticipated to drive the highest demand due to steadily expanding automotive production and sales volumes in these markets. Supported by policy initiatives promoting domestic vehicle manufacturing, rising standards of living and evolving preferences of tech-savvy customers, OEMs are aggressively launching new models equipped with advanced connectivity and infotainment solutions. Additionally, lower costs and availability of features-rich aftermarket infotainment systems are supplementing the regional market growth. With improving economic conditions and continuing investments by international automakers in developing production hubs, the Asia Pacific region will emerge as the fastest growing as well as largest IN-VEHICLE INFOTAINMENT market globally in the upcoming years.

Get More Insights on In-Vehicle Infotainment Market

Posted in: Technology
Be the first person to like this.