Global Automotive Infotainment Systems Market is growing at a CAGR of ~9% during 2022-2028: Ken Research

According to Ken Research Analysis, the Global Automotive Infotainment Systems Market was valued at ~US$ 10 billion in 2017. The development of an infotainment system for vehicles as a technology that integrates information and entertainment has attracted the attention of automakers. There is now more consumer flexibility to purchase passenger automobiles in emerging countries owing to rising disposable income and simple financing alternatives, which has led to a rise in demand for technologically advanced vehicles with practical entertainment systems, such factors are likely to fuel the market expansion of Automotive Infotainment Systems in the forecasted period. It is estimated to be ~US$ 15 billion in 2022 and is expected to reach a market size of ~US$ 25 billion by 2028 growing at a CAGR of ~9% during 2022-2028.

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Key Growth Drivers

The market for automotive infotainment systems is anticipated to develop as connected automobiles become more widely used as consumers are preferring connected automobiles with advanced infotainment systems.
A significant trend that is becoming widely attractive in the automotive infotainment market is technological advancement. New technologies are finding its way into the automotive infotainment sector, such as android-based in-car entertainment systems.
The touchscreen infotainment, might distract drivers and increase the risk of an accident. Using the system to change the radio station, change the channel, set up the next navigation route, or turn the radio on or off does not require the driver to glance away from the road and at the screen which is constraining the market for automotive infotainment systems over the forecasted period.
The COVID-19 pandemic had an inevitable impact on the automotive infotainment systems market, which is primarily driven by growing automotive sales and production. Production and sales of automobiles gradually grew in various regions of the world as a result of continuing lockdowns and the closing of manufacturing plants.

Key Trends by Market Segment

By Product Type - The navigation unit by product type dominated the market in 2021, a navigation tool enables determining the present location using GPS, which relies on a satellite, and provides detail on traffic, directions, and weather conditions.

GPS automobile navigation systems provide the most efficient route based on real-time traffic information, as well as extra locations of interest including banks, gas stations, hospitals, and restaurants.
For increased awareness while driving, navigation systems are designed to provide voice or visual instructions as well as driver alarms. Car GPS navigation systems are available as standard equipment or as consumer add-on accessories.

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By Installation Type - The in-dash Infotainment segment accounted for the highest market share in 2021, owing to the demand for feature-rich in-dash entertainment systems and smartphone app connectivity.

Attractive visuals and quick, access, and control functions have been added to in-dash entertainment systems on a constant basis, making them more user-friendly and responsive.
The majority of brand-new passenger cars, trucks, and SUVs are equipped with modern infotainment systems that greatly outperform earlier models.

By Fit - OE Fitted accounted for the highest market share in 2021 because OE systems are protected by the manufacturer's insurance and cannot be purchased separately.

The advantages of OE-fitted systems include simpler and more convenient servicing and maintenance, which are frequently protected by the warranty offered by the automobile manufacturer.
The ability to access automotive data provided by OE-fitted systems is an additional advantage that enables businesses to launch direct marketing campaigns and issue alerts for service and support.

By Vehicle Type - Passenger cars accounted for the highest market share in 2021, as consumers, most often in developing countries are rapidly adopting premium cars.

The volume of passenger cars on the road in Asia Pacific is rapidly increasing, owing to an increase in utility vehicle demand in densely populated countries such as China, India, and Japan.
According to the Society of Indian Automobile Manufacturers, SIAM, in September 2022, wholesale sales of passenger vehicles in India increased in August 2022 by 21%. Compared to August 2021, when passenger vehicle (PV) sales were 2, 32,224 units, in August 2022 they were 2, 81,210 units.

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By Geography: Asia Pacific accounted for the largest market share among all regions in 2021, owing to the presence of major automakers like Denso Corporation, Pioneer Corporation, Panasonic Corporation, JVCKENWOOD Corporation, and Mitsubishi Electric Corporation.

Customers favor augmented reality technology-based solutions due to its effectiveness, resulting in the driving market for automotive infotainment systems to expand in the region.
The high rate of adoption of automotive infotainment systems in nations like China, which manufactured the greatest number of automobiles globally, is responsible for the growth of the industry in Asia Pacific.

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Competitive Landscape

The Global Automotive Infotainment Systems Market is significantly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in utilizing IoT technologies to boost vehicle end-to-end connectivity. Large global players constitute ~15% of competitors, while country niche players represent the largest number of competitors. However, most of the country-niche players are suppliers of components and assembling partners A wide range of products is offered by the companies, such as head-up displays, communication devices, navigation devices, and display units. To increase its presence in the market globally, strategic actions like mergers, acquisitions, alliances, and product launches are taken. Some of the major players in the market include Denso Corporation, Robert Bosch GmbH, Continental AG, Harman International Industries Inc., Magnetic Marelli SpA, Kenwood Corporation, Alpine Electronics Inc., Mitsubishi Electric Corporation, Visteon Corporation, Pioneer Corporation, Aptiv PLC and others.

Recent Developments Related to Major Players

In February 2021, Harman International, an automobile infotainment provider, purchased Savari®, Inc., a Silicon Valley-based automotive technology company that develops vehicle-to-everything communications (V2X) technology for 5G Edge and automotive devices.
In January 2022, Qualcomm Technologies, Inc. and Alps Alpine Co., Ltd. announced a collaboration to deliver the Digital Cabin, a plan for future transportation that would enrich a space of style and comfort, even behind the cockpit.

Conclusion

The Global Automotive Infotainment Systems Market is anticipated to grow significantly during the projected period (2022-2028) as Automakers are interested in the development of infotainment systems for automobiles as a technology that combines information and enjoyment. Due to rising disposable income and straightforward financing options, consumers in emerging nations now have more purchasing options for passenger cars, which has increased demand for technologically advanced vehicles with useful entertainment systems. Such factors are likely to fuel the market expansion of Automotive Infotainment Systems during the anticipated period. Though the market is significantly competitive with ~200 participants, country-niche players control the dominant share and regional players also hold a significant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Ken Research has recently published report titled, Global Automotive Infotainment Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, Market is segmented into By Product Type, Installation Type, Fit and Vehicle Type. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is US$ Billion.

Market Taxonomy

By Product Type

Audio unit
Display unit
Heads-Up display
Navigation unit
Others

By Installation Type

In-dash Infotainment
Rear-seat Infotainment

By Fit

OE Fitted
Aftermarket

By Vehicle Type

Passenger Cars
Commercial Vehicles
Electric Vehicles

By Geography

North America (USA, Canada, and Mexico)
Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
LAMEA (Latin America, Middle East, and Africa)

Key Players

Denso Corporation.
Continental AG
HARMAN International
Pioneer Corporation
Robert Bosch GmbH
Visteon Corporation
Panasonic Corporation
Marelli Holdings Co., Ltd
JVCKENWOOD Corporation
Mitsubishi Electric Corporation

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