In-Car Infotainment Market worth USD 37.53 Billion by 2028 as Smart Driving Goes Mainstream

The growth in demand for safety, comfort, and aesthetic features have led to several technological advancements in vehicles such as use of cloud supported infotainment system which subsequently increases the comfort level of the passengers inside. With rapid development in cloud technology and its application, end users demand live streaming facility for music, internet radio, and smartphone integration.

As per the report published by Allied Market Research, the global in-car infotainment market was pegged at 21.41 billion by 2020, and is expected to reach $37.53 billion by 2028, growing at a CAGR of 7.5% from 2021 to 2028.

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Asia-Pacific dominates the market at present, followed by Europe and North America. In the Asia-Pacific region, China dominated the global in-car infotainment market in 2020, and is expected to maintain its dominance during the forecast period. Whereas India is expected to grow at a significant rate in Asia-Pacific, owing to the increasing purchasing power and rising passenger vehicle demand in the region.

Rise in adoption of cloud technology and rapid growth of the smartphone industry have boosted the growth of the global in-car infotainment market. However, high cost of advanced technologies and lack of uninterrupted & seamless connectivity hinder the market growth. On the contrary, increase in demand for rear-seat entertainment, personalized solutions as per the need, and surge in adoption of connected cars are expected to open lucrative opportunities for the market players in the future.

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The report segments the global in-car infotainment market on the basis of installation type, component, and region.

Based on installation type, the OEM segment is expected to register the highest CAGR of 8.0% during the forecast period. However, the aftermarket segment held the lion's share in 2020, accounting for more than three-fifths of the market.

On the basis of component, the software segment would manifest the highest CAGR of 8.7% during the forecast period. However, the hardware segment held the largest share in 2020, contributing to nearly 87% of the total market share.

The global in-car infotainment market includes an in-depth analysis of the prime market players such as Samsung Electronics Co., Ltd., Alps Alpine Co., Ltd., Pioneer Corporation, Panasonic Corporation, BMW Group, Audi AG, Ford Motor Company, Continental AG, Visteon Corporation and Volkswagen AG.

COVID-19 impact analysis:

Due to COVID-19 pandemic, the passenger car market has witnessed low sales volume demand which resulted in drop in revenues for in-car infotainment systems.
Amid lockdown, shutdown of various manufacturing facilities and shipping delays has made getting a new and replacements parts a challenge. Furthermore, low inventory, considerable demand and higher prices for parts has resulted in the price of in-car infotainment systems to rise significantly

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Key Findings Of The Study

In 2020, by installation type, the aftermarket segment generated the highest revenue.
In 2020, by component, the hardware segment was the highest revenue contributor.
In 2020, region-wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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