According to Stratistics MRC, Global Automotive Infotainment Systems Market is valued at $13.12 billion in 2015 and is expected to reach $32.26 billion by 2022 growing at a CAGR of 13.7% from 2015 to 2022. The crucial drivers for market development will be greater support for open-source and standard platforms for application progress. Moreover increased Smartphone adoption is the key driver for market growth. Previously, the competition among the automotive manufacturers was restricted to the towing capacity, acceleration, and horsepower of the vehicle. However, in recent time, attention of consumers and OEMs has been changed from what is under the hood to what is behind the vehicle's dashboard.
Global Automotive infotainment systems Market is segmented by component into hardware and software. Hardware is one of the key components of in-car infotainment system and software is anticipated to command the market attributed to rapid performance, interactive voice recognition, intuitive touch screen, and swift graphical interface. In the Hardware segment, the display segment is expected to remain the largest market. Presence of credit, increasing buying power of people in emerging countries, and flexible financing options are anticipated to fuel vehicle sales, which would stimulate growth for this segment over the analysis period.
By installation type, Global Automotive infotainment systems market is categorized into OEM Installation and Aftermarket Installation. The segment OEM installation dominates the global market in terms of market size and is expected to sustain this trend throughout the forecast period, attributed to technological advancements in the automotive electronics industry. OEM-embedded telematics systems primarily will be installed in high-end and luxury light vehicles, with fitment rates forecast to augment rapidly. This is due to most luxury vehicles are expected to have OEM telematics systems in the future.
Browse the full report at "Global Automotive Infotainment Systems Market Outlook ".
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. Europe represents the largest market worldwide. Developments in voice recognition technologies, HD in-dash display monitors, responsive touch screens and intelligent driver distraction mitigation systems, are also driving adoption of Automotive Infotainment Systems. Asia-Pacific ranks as the fastest growing market with a significant CAGR over the analysis period, supported by the fact that the current improving global GDP is largely driven by Asia. Rising employment levels, standard of living, increase in discretionary spends, consumer preference for luxury cars and increase in per capita ownership of cars, all represent broader economic variables that are favourable to the growth of automotive technologies in the region.
The automotive infotainment market is characterized by the presence of several automotive infotainment companies and as a result, appears to be highly fragmented. Since all vendors equally compete to gain a substantial market share, the competitive rivalry is quite fierce. The growing competition among automobile manufacturers to employ OS or software as a product differentiating factor will increase the competition among the market players. Moreover, the rising integration of smartphones with vehicles to enhance in-vehicle experience and the emphasis of manufacturers in the automobile industry toward connected car technology will also enhance the market’s growth potential, which will again intensify the market’s competitive environment. Companies are focused on developing solutions which will provide details for live traffic, and parking updates as quick adoption of smart phones may hold back the growth of navigation systems market in future.
The key players in the automotive infotainment systems market include Ford Motor Company, Pioneer Corp., Panasonic Corp., Kenwood Corp., Harman International Industries Inc., Garmin Ltd., Fujitsu Ten Ltd., Denso Corp., Delphi Automotive plc Continental AG, Bose Corp., Blaupunkt GmbH, Alpine Electronics Inc., Audi AG, General Motors Corp, Flextronics International, Volkswagen AG, Honda Motors Co, Ltd, Clarion Corporation of America and ALPS Electric co. Ltd.
To request for customization, fill in the Inquiry form at Global Automotive Infotainment Systems Market Outlook
Corporate Sales Specialist
Email: [email protected]