Press release
Automotive Infotainment Market Trends and Dynamic 2031
The global automotive infotainment market is anticipated to expand at a favorable rate from 2021 to 2031 (forecast period). The automotive industry is always developing new technologies in order to provide a high-quality driving experience. Carmakers have taken notice of the introduction of an automobile infotainment system as a technology that blends information and entertainment. Consumers' increased disposable income and simple financing choices in emerging countries have given them the opportunity to own passenger automobiles, boosting demand for technologically equipped vehicles with convenient and smart entertainment systems. Such factors are expected to drive the global automotive infotainment market during the forecast period.
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Automotive Infotainment Market - Competitive Landscape
Leading players in the automotive infotainment market are Ford Motor Company Alps Alpine Co., Ltd., Continental AG, Audi AG, Samsung Electronics Co., Ltd., BMW Group, Panasonic Corporation, Pioneer Corporation, Visteon Corporation, and Volkswagen AG.
These companies offer a diverse range of goods, such as communication units, display units, head-up displays, navigation units, etc. Strategic activities, including mergers and acquisitions, alliances, and product launches, are used to increase their worldwide market presence.
Alps Alpine Co., Ltd, a prominent player in the automotive infotainment market, unveiled AlpineF#1Status, a luxury automobile audio system, in June 2021. The car contains a high-resolution audio playback system that can simulate a live performance.
Automotive Infotainment Market - Trends and Opportunities
The worldwide automotive infotainment market is expected to be driven by rising vehicle production and sales and increasing demand for smart infotainment in basic models. Moreover, improving consumer living standards, fuelled by rising disposable income levels, have increased demand for premium and luxury vehicles in both developed and developing nations. As a result, some automakers are extending their manufacturing and delivery networks to satisfy rising demand.
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Furthermore, the growing trend of car personalization for high-end comfort and convenience is projected to increase the sales of automotive infotainment market. The increased emphasis on driver safety and comfort, especially in commercial vehicles with long travel distances, has resulted in the fast deployment of automotive infotainment systems in such vehicles. Additionally, the use of navigation and vehicle control units in commercial vehicles helps to reduce reaction time during crises, minimizing the danger of accidents. Aside from that, some automakers are producing inexpensive infotainment systems, enhancing product affordability.
The increasing usage of smartphones and strong internet connectivity is likely to have a substantial influence on worldwide automotive infotainment market growth. Moreover, technical improvements in the industry have resulted in the development of infotainment systems with novel features such as in-car Wi-Fi, speech recognition, driving assistance, and so on.
The COVID-19 pandemic's influence on the global automotive infotainment market was unavoidable, given the market is largely driven by rising vehicle production and sales. Due to the constant lockdowns and shutdowns of manufacturing facilities, car output and sales grew slowly in many parts of the world. However, with economies resuming worldwide, the future market demand for automotive infotainment is likely to be positive.
Automotive Infotainment Market - Regional Landscape
The Asia Pacific automotive infotainment market is projected to develop during the forecast period. The regional growth can be attributed to growing passenger automobile production and sales in the region. Moreover, increasing income levels and robust demand for vehicles have been credited to the region's rise in luxury and mid-sized premium car industries. Furthermore, higher disposable income pushes people to purchase passenger vehicles with cutting-edge technology, which is projected to boost the regional market growth.
The automotive infotainment market in North America is expected to witness considerable growth during the forecast period. The rising demand for passenger automobiles, significant expenditures on expanding technology, and the availability of a diverse variety of new entertainment devices are projected to drive the regional market.
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