Press release
High-End Luxury Car Sales Boost In-Vehicle Infotainment Market: Powering Innovation and Expansion in the In-Vehicle Infotainment Market by 2025
In-Vehicle Infotainment
How Large Will the In-Vehicle Infotainment Market Size By 2025?
The market size of in-vehicle infotainment has experienced swift expansion in the recent past. Its growth is projected to rise from $23.82 billion in 2024 to $26.38 billion in 2025, with a compound annual growth rate (CAGR) of 10.7%. The growth during the historic period can be linked to factors such as the surge in sales of luxury cars, expansion in emerging markets, enhanced demand for passenger cars, and widespread adoption of connected cars.
How Big Is the In-Vehicle Infotainment Market Size Expected to Grow by 2029?
The market size for in-vehicle infotainment is predicted to experience a significant upswing in the coming years, ascending to $40.15 billion in 2029 with a compound annual growth rate (CAGR) of 11.1%. Factors propelling this projected growth within the timeline includes governmental backing for the motor industry, heightened demand for both autonomous and electric vehicles, as well as a surge in urbanization. Upcoming trends within this forecast period will encompass technological enhancement of automotive infotainment systems, facilitation of over-the-air updates for these systems, strategic alliances and collaboration among stakeholders to enhance their product offerings, installation of Android operability in infotainment modules, innovation in automotive connectivity, incorporation of artificial intelligence (AI) functionality in infotainment systems, and customisation of in-vehicle infotainment systems.
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Which Key Market Drivers Powering In-Vehicle Infotainment Market Expansion and Growth?
The surge in high-end luxury car purchases is projected to fuel the expansion of the in-vehicle infotainment market. Luxury vehicles encompass those produced by premium manufacturers, featuring superior performance, opulent interiors, and safety plus technological attributes not found in cheaper cars. These luxurious vehicles are outfitted with state-of-the-art infotainment systems to improve vehicle safety and security. Consequently, an uptick in luxury car sales contributes to the market's development. For example, the BMW Group, a German manufacturer, reported a 10.3% year-over-year increase in sales in the fourth quarter of 2023, amounting to 718,778 units. As such, the rising uptake of premium luxury vehicles is triggering the in-vehicle infotainment market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the In-Vehicle Infotainment Market?
Evolution in technology is one of the key trends that the in-vehicle infotainment market is currently witnessing. The heavyweights in this market are exerting their efforts on the creation of innovative technological solutions in order to maintain their stronghold. For example, in August 2022, the Japan-based electronics and electrical equipment producer, Mitsubishi Electric Corporation, unveiled its state-of-the-art infotainment system called 'Inca Jay Digital Cockpit'. It stands out due to its cutting-edge features such as real-time voice translation, image processing, and sophisticated driver assistance systems (ADAS). The infotainment system possesses the capability to scrutinize the driver's face using near-infrared and driver-facing cameras, assisting in the identification of potential driver issues. The significantly improved ADAS of the system will be a valuable aid in emergencies and safety scenarios.
What Are the Emerging Segments in the In-Vehicle Infotainment Market?
The in-vehicle infotainment market covered in this report is segmented -
1) By Component: Software, Hardware, Services
2) By Services: Entertainment Services, Navigation Services, Communication Services, Vehicle Diagnostics Services, Other Services
3) By Vehicle Type: Passenger Car, Commercial Vehicles
4) By Fitting: OE (Original Equipment) Fitted, Aftermarket
Subsegments:
1) By Software: Operating Systems, Application Software, Middleware, Connectivity Software
2) By Hardware: Displays (Touchscreen, Instrument Cluster), Audio Systems (Speakers, Amplifiers), Control Units (Microcontrollers, Processors), Connectivity Modules (Bluetooth, Wi-Fi)
3) By Services: Navigation Services, Content Services (Streaming, Music), Software Updates and Upgrades, Customer Support Services
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Who Are the Global Leaders in the In-Vehicle Infotainment Market?
Major companies operating in the in-vehicle infotainment market include Panasonic Corporation, Alpine Electronics Inc., Pioneer Corporation, Harman International Industries Inc., Bose Corporation, Sony Corporation, Clarion Co. Ltd., Continental AG, Visteon Corporation, Denso Corporation, Garmin Ltd., TomTom International BV, Robert Bosch GmbH, Mitsubishi Electric Corporation, Fujitsu Ten Ltd., Magneti Marelli S.p.A., Kenwood Corporation, Delphi Automotive PLC, Valeo SA, Hyundai Mobis Co., Ltd., JVC Kenwood Corporation, Aptiv PLC, NXP Semiconductors NV, NVIDIA Corporation, Texas Instruments Incorporated, Apple Inc., Google LLC, Amazon.com, Inc., LG Electronics Inc., Qualcomm Technologies, Inc.
Which are the Top Profitable Regional Markets for the In-Vehicle Infotainment Industry?
North America was the largest region in the in-vehicle infotainment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in-vehicle infotainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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