Acumen Research and Consulting in a recently published report titled “Automotive Infotainment Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”, forecasts that the automotive infotainment market is expected to grow at a CAGR of around 8.8% from 2021 to 2028
LONDON, Oct. 13, 2021 (GLOBE NEWSWIRE) — Asia Pacific records dominant share for automotive infotainment market; Europe to record second largest market share; and North America recording considerable CAGR for the analysis period of 2021 to 2028.
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Based on regional analysis, the automotive infotainment market is expanding at a fast pace owing to consumers attractiveness towards purchase of passenger cars with the technology up gradation. Furthermore, rising disposable income in APAC population is increasing the purchasing power of premium vehicle with advanced infotainment systems among the masses. Furthermore, tremendous rise in sale of luxury cars among Asia Pacific countries, particularly China and India will propel the growth of automotive infotainment in Asia Pacific regional market.
On the other hand, North America regional market is continuously witnessing launching of innovative products from the automotive sector. Stupendous performance towards infotainment especially for voice recognition and driver assistance systems among the population intend for the growth of automotive infotainment market in this region. Also, noticeable development for HD in gash displays among consumers situated in this region is the impacting factors for the ultimate growth of market.
|Market||Automotive Infotainment Market|
|Analysis Period||2017 – 2028|
|Forecast Data||2021 – 2028|
|Segments Covered||By Product Type, By Fit Type, By Vehicle Type,
and By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa
|Key Companies Profiled||Alpine Electronics, Inc., Clarion Co., Ltd.,
Continental AG, Aptiv plc, Denso Corporation,
Harman International Industries, JVC Kenwood
Corporation, SK Telecom Co, Panasonic
Corporation, Pioneer Corporation, Visteon
Corporation, and among others
|Report Coverage||Market Trends, Drivers, Restraints, Competitive
Analysis, Player Profiling, Regulation Analysis
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COVID-19 and the automotive infotainment market
COVID-19 had a declining impact on the automotive industry with auto demand collapsing in the Q2 results. This is highly explained by disruption in Chinese parts exports, large scale manufacturing interruptions worldwide, and the closure of assembly plants. This has placed intense pressure on automotive industry coping with a downshift in worldwide demand resulting for the rise of merger & acquisition activity. The M&A has significantly accelerated the growth of automotive sector, deep technology innovation for sustainability of long term competitive edge to companies. In post COVID-19, automotive organizations will have to respond and leverage shifting consumer trends to gain a competitive edge. The manufacturers intend to lead by offering a digital consumer experience by launching innovative business models such as infotainment or telematics are well placed together to manage such pandemic storm. This further offers valuable lessons and record breaking examples towards agile innovation. For example, with connectivity going beyond 5G and vehicle data access-it’s all about design as display tech is evolving from LCD to flexible OLED and microLED.
The automakers are planning to offer advance ADAS functionalities, powered by sensors and computer vision. For instance, some OEMs are providing camera systems with additional radar systems and radar sensors. For example, digital cockpit has gained huge prominence that highly supports the designing of automotive infotainment market. Moreover, release of an AI powered ADAS system has been continuously improving infotainment features from the past in order to improve consumer preference.
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The global automotive infotainment market is segmented based on product type, fit type, and vehicle type. By product type, the market is segmented as audio unit, display unit, heads-up display, navigation unit, and communication unit. By fit type, the market is split into OEM fitted and aftermarket. Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles.
Based on product type, communication unit records attributable share for the global market. Additionally, for fit type, OEM fitted segment records dominant share for the projected period of 2021 to 2028. Further, based on vehicle type segment, passenger car will dominate the overall market growth.
The major players involved in the automotive infotainment market involve Alpine Electronics, Inc., Clarion Co., Ltd., Continental AG, Aptiv plc, Denso Corporation, Harman International Industries, JVCKenwood Corporation, Panasonic Corporation, SK Telecom Co, Pioneer Corporation, Visteon Corporation, and among others.
Some of the key observations regarding automotive infotainment industry include:
- In May 2020, Continental AG, announced strategic partnership with Pioneer Corporation. The partnership agreement pinpoint integrated infotainment solution for both partners creating a holistic user experience that is specifically aimed at the Asian market. Additionally, the partnership between the two companies can appear in the field of centralized cockpit systems with integration of the entire infotainment domain to a holistic system.
- In January 2020, SK Telecom Co., announced signing partnership with China-based electric vehicle (EV) manufacturer Byton for development of an in-vehicle infotainment (IVI) system. The company’s deal focuses on the in-vehicle infotainment IVI system that the company is currently showcasing at Consumer Electronic Show (CES). The company plans to apply 5G technologies in the coming years so that the passengers can have better experience in the car.
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