In-Car Infotainment Market is Expected to Garner $33.8 Billion by 2022 With Leading Market Players Such as Panasonic Corporation, Harman International Industries, Bayerische Motoren Werke AG (BMW), Fujitsu Ten Ltd.
Europe has emerged as the most promising region, exhibiting a huge demand for in-car infotainment within the automotive car sector. In 2015, the market for in-car infotainment in Europe was valued at $4.6 billion in 2015. However, Asia-Pacific would be the fastest growing region during the forecast period owing to the burgeoning automotive production and sales coupled with the increasing disposable income of the consumers in the region.
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Market is analyzed with regards to revenue contribution made by different segments in world in-car infotainment market. In global market, in-car infotainment installation type segment is mainly driven by aftermarket sub segment, which accounted for around 54% of the market revenue in 2015. Aftermarket installation is less expensive as compared to OEM installation, thereby driving the growth of aftermarket. However, OEM installation market is expected to grow faster in the near future since OEM manufacturers are increasingly offering personalized infotainment systems as well as standard infotainment systems in the mid-car segment.
Within the components segment, hardware accounted for the maximum revenue share in 2015, owing to its high cost and wide-deployment. However, efficient and effective development of infotainment software applications is expected to drive the market in the near future. The software market is estimated to register a CAGR of 14.4% during 2016 -2022.
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The report also outlines the competitive environment of world in-car infotainment market, while providing a comprehensive study of key strategies adopted by market leaders. The prominent companies profiled in the report include Panasonic Corporation, Harman International Industries, Bayerische Motoren Werke AG (BMW), Fujitsu Ten Ltd., Delphi Automotive PLC, Denso Corporation and others.
Lack of uninterrupted, seamless connectivity
With the rapid technological advancements, companies have enabled advanced features in latest in-car infotainment systems. The amplified consumption and digital content creation within the vehicle is driving the need for more sophisticated and connected in-car infotainment systems. However, lack of seamless and uninterrupted connectivity is restraining the market growth, as there are still some areas, which do not have proper connectivity. Hence, manufacturers are trying to present advanced mode of connectivity in in-car infotainment systems. As a result, lack of seamless connectivity is expected to reduce its impact in near future.
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In-car infotainment is an advanced facility in vehicles. Companies are currently introducing customized solutions for cars that satisfy customer-specific requirement. Today, end users demand personalized in-car infotainment systems such as customized music, advanced suite of technology, entertainment services, text messaging, smartphone integration facility and live audio streaming. Moreover, personalization facility has become one of the important criteria for consumers while buying a car. Therefore, personalization positively influences the market growth.
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