Press release
Electric Vehicle Infotainment Global Market Exhibit a Remarkable CAGR of 32.9% and is expected to reach $6.92 Billion By 2028 | General Motors, Tesla Inc., Audi AG, Denso Corporation, Continental AG
Electric Vehicle Infotainment Global Market
The electric vehicle infotainment market size is expected to see exponential growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 32.9%. The growth in the forecast period can be attributed to content streaming, head-up displays, augmented reality, ecosystem expansion, in-car health and wellness, autonomous driving. Major trends in the forecast period include integrated charging infrastructure, battery swapping stations, smart charging solutions, wireless charging technology, ultra-fast charging stations.
Market Overview -
Electric vehicle infotainment refers to the integrated entertainment, information, and communication system within electric vehicles to offer entertainment and convenience features while also providing essential information and controls relevant to the vehicle's operation. These systems frequently include energy management tools and efficiency displays designed specifically for electric vehicle use, assisting drivers in optimizing their EV (electric vehicle) usage and range.
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Rising Consumer Adoption Of Electric Vehicles Driving Growth Of The Electric Vehicle Infotainment Market
The increasing consumer adoption of passenger and commercial electric vehicles is expected to propel the growth of the electric vehicle infotainment market going forward. Passenger and commercial electric vehicles refer to a diverse range of electrically powered automobiles designed for either personal transportation or commercial purposes. Consumers are adopting passenger and commercial EVs due to continued expansion of charging infrastructure, decreasing battery costs, and inclination towards sustainable mode of transportation. Electric vehicle infotainment systems enhance passenger comfort and driver productivity, offering entertainment, connectivity, and navigation features crucial for the overall user experience in both passenger and commercial electric vehicles. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of that year, a 25% increase from the same period last year. By the end of 2023, EV sales are expected to reach 14 million, representing a 35% year-on-year increase. Therefore, the increasing consumer adoption of passenger and commercial electric vehicles is driving the growth of the electric vehicle infotainment market.
Competitive Landscape -
Major companies operating in the electric vehicle infotainment market are Ford Motor Company, General Motors, Tesla Inc., Audi AG, Panasonic Holdings Corporation, Denso Corporation, Continental AG, Hyundai Kefico, Aisin Corporation, Toshiba Corporation, Pioneer Corporation, Toyota Industries Corporation, Valeo SA, Infineon Technologies AG, Renesas Electronics, HARMAN International, Microchip Technology, Garmin Ltd., JVCKENWOOD Corporation, Clarion Technologies, ALPINE ELECTRONICS Inc., Airbiquity Inc., Hangzhou Tiecheng Information Technology
Revolutionizing Electric Vehicle Infotainment With Human-Machine Interface Technology
Major companies operating in the electric vehicle infotainment market are focused on developing new technological and advanced solutions, such as human-machine interface infotainment, to increase their profitability in the market. Human-machine interface infotainment refers to the integrated system in an electric vehicle that allows users (drivers and passengers) to interact with and control various multimedia, entertainment, and information features. For instance, in January 2021, LG Electronics Inc., a South Korea-based consumer electronics company, launched an in-vehicle infotainment (IVI) system in the Mercedes-Benz EQS EV sedan. The system features a Pillar to Pillar (P2P) display built into the MBUX (Mercedes-Benz User Experience) Hyperscreen and stretches across the entire width of the dashboard, providing a seamless and intuitive user experience. This IVI system, with its unique interior concept and revolutionary human-machine interface, is a central feature in the new luxury electric sedan, highlighting futuristic trends in electric vehicle design and pointing to an exciting vision for future mobility.
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Key Segments -
The electric vehicle infotainment market covered in this report is segmented -
1) By System Type: Multimedia, Heads-up Display, Navigation Unit, Communication Unit, Rear Seat Entertainment
2) By Connectivity Type: Bluetooth, Cellular, Wireless, Wired Connectivity
3) By End-Use: Battery Electric Vehicle, Hybrid Electric Vehicle
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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