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In-Car Entertainment and Information System Market - Entertainment Segment Reports Significant Demand
As per Transparency Market Research, the global in-car entertainment and information system market stood at US$11.42 bn in 2014. Exhibiting a CAGR of 14.2%, the market is likely to reach US$28.64 bn by the end of 2021.
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Entertainment Segment Reports Significant Demand
Navigation, entertainment, and telematics constitute the key application segments of the in-car entertainment and information system market. Of these, the entertainment segment led the market in 2014 with a share of 39.3%. The rising demand for in-car entertainment solutions is creating lucrative prospects for the sales of various hardware and software devices and accessories such as freeview/TV, audio-video devices, DSP systems, USB, and WiFi devices. Recently, these devices have emerged as popular entertainment components to be installed in the latest automotive models.
Besides this, the market is also expected to witness increasing demand for state-of-the-art navigation systems for a safer and more comfortable driving experience. The rising concerns related to road safety is expected to accelerate demand in the telematics segment. Telematics in vehicles include road safety and vehicular technologies, telecommunication systems, and wireless communication systems such as sensors, internet, multimedia, and instrumentation.
Over the course of the forecast period, the navigation and telematics segments are expected to report considerable growth, thus aiding the market’s expansion.
Europe to Remain Leading Regional Market for In-car Entertainment and Information Systems
Regionally, Europe led the global in-car entertainment and information system market in 2014 with a share of 30.3%, followed by North America. Significant economic growth across several countries in Europe, coupled with increasing vehicle production, has been considerably fuelling the demand for in-car entertainment and information systems in the region. Germany and the U.K. are the leading markets for in-car entertainment and information systems in Europe. The rising demand for high-performing cars in these countries provides lucrative opportunities for the manufacturers of in-car entertainment and information systems in Europe. Spurred by these factors, the in-car entertainment and information system market in Europe is expected to reach US$8.5 bn by the end of 2021, retaining its lead through the forecast period.
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During the course of the forecast period, TMR expects the demand for in-car entertainment and information systems to rise at a higher pace in Asia Pacific, Latin America, and the Middle East and Africa. The rising disposable income of consumers in these regions and their willingness to spend on high-performing vehicles, will create lucrative prospects for the market. India, Japan, and China are some of the highly attracting countries in the region. Besides this, economic reforms and the growth of the automotive sector in the UAE and Saudi Arabia have provided attractive opportunities for sellers in MEA.
Some of the key players operating in the global in-car entertainment and information system market are Denso Corporation, Harman International, Delphi Automotive PLC, JVC Kenwood Corporation, TomTom International B.V., Pioneer Corporation, Alpine Electronics Inc., and Blaupunkt GmbH.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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