New York, United States , Nov. 10, 2022 (GLOBE NEWSWIRE) -- The Global Embedded In-Vehicle Infotainment Market Size was valued at USD 20.30 Billion in 2021 and is expected to reach USD 50.80 Billion by 2030, growing at a CAGR of 10.72% during 2021-2030, as per the latest research report by Spherical Insights & Consulting. Electronics are thought to be responsible for 80 percent of all car developments today, either directly or indirectly. With each new model, vehicle functionality improves, resulting in an increase in semiconductor content per car. Development is robust, inventive, and dependable with whom to develop the future of transportation, with experience in automotive electronics. Through the integration of numerous technologies, Smart Mobility products and solutions make driving safer, greener, and more connected. Advanced Driver Assistance Systems (ADAS) solutions, which include vision processing, radar, imaging, and sensors, as well as adaptive lighting systems, user display, and monitoring technologies, make driving safer. Consumer expectations for in-vehicle infotainment systems are being shaped by personal electronics experiences, making it a rapidly evolving section of the automobile industry.
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Wi-Fi is available at any place and it is becoming more common in automobiles. As a result, consumers are becoming more interested in car-based Wi-Fi hotspots. According to Strategy Analytics, 54 percent of consumers in the United States are very or highly interested in having a Wi-Fi hotspot in their vehicle. Interest is much higher in China, with 61 percent of consumers indicating that they are very or extremely interested. Advanced driver assistance systems, typically abbreviated as ADAS, are becoming increasingly crucial for consumers when purchasing a vehicle, moving beyond infotainment functions. This is the major factor that can be helping the driver for safety.
When buying a vehicle in the United States, 54% of buyers would pay more for a blind spot detection system. Furthermore, 48% of buyers in the United States would pay more for a vehicle with a collision-avoidance system than for one without. These systems entail giving driver warnings, usually through the instrument cluster, and in certain cases taking action if the driver is unable to avoid a collision in time. Hence, the chances of accidents are minimized and the safety of the vehicles is increased. These are the safety factors and increasing demand for inbuilt technologies in the vehicles are expected to boost the infotainment demand in the forecast period.
The increasing demand for connected cars is a result of an increase in the selling of connected cars. Within two years, global sales of connected vehicles will reach 76.3 million units, implying that over 70% of new light-duty automobiles and trucks will be equipped with the embedded connection. In the United States, this figure reaches 90%. The linked automobile technology of the future will be a digital platform that uses a variety of sensors to safely carry passengers and products, including radar, LIDAR, cameras, ultrasonic sensors, and vehicle motion sensors. Connected cars will enable immersive experiences within the vehicle, with extended reality technology transforming the interior of automobiles into virtual theme parks in some circumstances. The amount of data that these transportation platforms must gather, transmit, and receive will expand in lockstep, with data traffic from connected vehicles estimated to exceed 1,000 times current levels by 2025. The increasing adoption of connected cars and its wide applications that can be loved by people are the main factors that can drive the infotainment market. The significant growth in connected cars may boost the infotainment market in the forecast period.
Browse key industry insights spread across 185 pages with 123 market data tables and figures & charts from the report “Global Embedded In-Vehicle Infotainment Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Vehicle Type (Passenger Car, LCV, and HCV), By Component (Control Panel, Heads-Up Display, Integrated Head-Unit, and High-end DSPs and GPUs), By Operating System (Android, QNX, Linux, and Windows), By Application (Entertainment Services, E-Call Services, Navigation Services, and Vehicle Diagnostics Services), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” in detail along with the table of contents
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With the advancement of in-vehicle infotainment systems, we will begin to use automobiles similarly to how we use smartphones. The truth is that automobile technologies will outperform people in the future. As the globe grows more connected and technologically evolved, it is critical to bring new ideas to the automotive industry. One of these technologies that are radically changing the way we use cars is the in-vehicle infotainment system. Every year, the opportunities it affords expand. There's little doubt that as technology and automotive software development advance at the speed of light, there will be many more to come. Moreover, the increase in the implementation of new technologies in the vehicles and vice versa increases the people’s inclination toward the new vehicle’s technologies. This can be the emerging trend that can be expected to drive the market in the forecast period.
The Asia Pacific is anticipated to have the highest share of the worldwide embedded in-vehicle infotainment market due to the region's strong car sales volume and the rapid uptake of electric vehicles in nations like China and Japan. However, the presence of major OEMs in the region, together with the vast manufacturing of vehicles there, has fueled market expansion in Europe, where it is anticipated that it will represent the second-largest share of the market. Additionally, it is anticipated that the presence of important companies in this infotainment system in Europe, including Robert Bosch GmbH and many other manufacturers, will open up development potential in the region.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Garmin Ltd (United States), TomTom International BV (Netherlands), HARMAN International (United States), Panasonic Corporation (Japan), Alps Alpine Co Ltd (Japan), Robert Bosch Gmbh (Germany), Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Delphi Technologies (United Kingdom), Visteon Corporation (United States), JVCKENWOOD Corporation (Japan) and Others Prominent Key Players.
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