Press release
6.2% CAGR, In-vehicle Infotainment Market to hit USD 33.16 Bn by 2025 - The Insight Partners
The Insight Partners
According to The Insight Partners' research, the global in-vehicle infotainment (IVI) market was valued at US$ 19.66 billion in 2016 and is expected to hit US$ 33.16 billion by 2025, recording an annual growth rate of 6.2% from 2017 to 2025.
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Longer travel time, traffic jams, poor road conditions, and many other factors compel drivers to spend more time onboard than ever. As a result, car owners are looking for solutions to enhance the quality of time spent behind wheels, leading to the interest in in-vehicle infotainment. To satiate this requirement, automakers are integrating cutting-edge infotainment systems in every other model they launch. They emphasize adding to the aesthetics of the car and make it appear unique and different from the rest. All these aspects mentioned above catalyze the global in-vehicle infotainment market.
Strategic Insights:
Leading players profiled in the global in-vehicle infotainment market report are Alpine Electronics, Inc; Clarion Co., Ltd; Continental AG; Denso Ten Limited; Garmin Ltd; Harman International; Pioneer Corporation,; JVC Kenwood Corporation; Panasonic Corporation; and Visteon Corporation.
• In May 2017, Alpine Electronics started shipping the premium X-series speakers.
• In January 2017, Clarion got felicitated as 'CES 2017 Innovation Awards Honoree' for its innovative digital high-resolution automotive audio system.
• In April 2017, Garmin International introduced RV-BBT601, an advanced OEM infotainment system for recreational vehicles.
According to automobile associations, the global vehicular population exceeded 1 billion mark in the last decade. In developed economies with high disposable income, the selection parameters play a vital role when it comes to purchasing a vehicle. Along with cost and fuel efficiency, comfort and luxury are equally valued before finalizing the purchase. As a result, in-vehicle infotainment systems are becoming more significant for modern-day customers.
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On the other hand, longer product development cycles, and noise and power consumption issues hinder the growth of global in-vehicle infotainment market.
According to the operating system, the market is split into Microsoft, linux, QNX, and others. The QNX segment held 42.9% market share in 2016 with a revenue total of US$ 8.44 billion. It is estimated to generate US$ 10.63 billion by 2025 expanding at 2.8% CAGR during 2017-2025. However, it is going to concede the market leadership to linux segment which accounted for US$ 4.74 billion in 2016 and is forecasted to be worth US$ 11.81 billion by 2025 to grow at 10.8% CAGR along the forecast period.
Based on interaction type, the in-vehicle infotainment market domain is categorized into touch-based, voice-enabled, physically button-controlled systems, and gestures. The touch-based segment occupied 41.2% share of the business in 2016. It was assessed at US$ 8.10 billion and is speculated to garner US$ 14.25 billion by 2025 to surge at 6.8% CAGR for the forecast period.
In terms of connectivity technology, the global in-vehicle infotainment market is fragmented into wifi, bluetooth, and NFC. With 57.8% market share, the bluetooth segment dominated the business in 2016. It amassed US$ 11.37 billion in 2016 and is slated to accrue US$ 19.55 billion by 2025 featuring a CAGR of 6.5% over the forecast period.
Our regional analysis states that Asia Pacific captured 38.3% market share in 2016. It was evaluated at US$ 7.53 billion in 2016 and is likely to reach US$ 16.90 billion by 2025 exhibiting the highest CAGR of 9.7% during the projected timeline.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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