Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- The global in-car infotainment market is likely to garner a healthy CAGR during the forecast period (2016-2022), Market Research Future (MRFR) unveils in a detailed report. In-car infotainment systems assist the driver with entertainment, information, and communication. These systems are equipped with advanced technologies like GPS, sensors, and the internet, and feature automatic climate control systems and automotive navigation systems.
Factors Inspiring the Market
The global In-Car Infotainment Market is gaining huge prominence across the globe due to the surging need for driver assistance, coupled with the increasing concern regarding driver safety. Drivers require assistance to drive safe, which can be only achieved with the help of proper navigation system. Infosystems ensure the safety of the vehicle by offering real-time footage of the surroundings, which further assists in guided parking, where visuals are displayed on the LED screen inside the car. Such benefits are likely to promote the market growth in the foreseeable future.
Integration of artificial intelligence is a recent trend in the in-car infotainment market. It offers a virtual personal assistant active voice command, which guides drivers while driving. Infotainment systems in vehicles are also responsible for connecting vehicle to another vehicle with the help of internet. Connected vehicles enhance vehicle safety, enhances user experience in the car, and offer environmental benefits by minimizing traffic congestion. Such factors will trigger the demand from the in-car infotainment market across the globe.
On the contrary, infotainment systems can sometimes distract the drivers, thus raining safety concerns. This is against the regulatory compliance taken by the government. Additionally, the high cost of installations of in-car infotainment systems is predicted to restrict the in-car infotainment market growth in the years to come.
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Key Players:
The players dominating the global in-car infotainment market include Ford Motor (US), Volkswagen Group (Germany), Harman International Industries (US), General Motors Company (US), Fujitsu Ten Limited (Japan), Denso Corporation (Japan), Panasonic Corporation (Japan), Visteon Corporation (U.S.), Delphi Automotive (UK), BMW (Germany), and Apple Inc (US).
Segmentation:
The global in-car infotainment market is segmented on the basis of component, vehicle type, component, connectivity, and installation.
By component, the in-car infotainment market is segmented into hardware and software. Of these, the hardware component leads the global market, acquiring the largest share as it is one of the major components of the in-car infotainment system.
By vehicle type, the in-car infotainment market is segmented into light commercial vehicles, passenger cars, and heavy commercial vehicles.
The connectivity segment is segmented into V2V, mobile, and voice control.
The installation segment comprises OEM and aftermarket. Of these, the OEM installation segment is predicted to gain prominence during the forecast period. This is due to the technological advancements made in the automotive electronics industry.
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Mapping the Global Market:
Geographically, the in-car infotainment market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, Europe will contribute to the largest share in the global market, mainly due to the soaring demand from the automobile industry. The market is likely to boom in the coming years as the European Union has made telematics control mandatory in automobiles, especially in passenger cars.
North America will register an outrageous growth as prime players in the region like Ford Motors are partnering with big market players like Amazon in order to make advancements in the infotainment systems. Moreover, the existence of industry bigshots like Apple Inc and General Motors are striving to enhance the user experience by using infotainment systems.
Asia Pacific is likely to expand at the fastest rate due to the surging demand for luxury cars, coupled with soaring disposable income of the people in the APAC. In this region, China, India, and Japan are some of the highly attracting markets for in-car infotainment. Factors like enhancement in discretionary spends and consumers proclivity towards premium cars are also contributing to the market growth during the review period.
Head-to-Head
July 2019: Ford has recently introduced its latest version of SYNC 3, a functional, secure, enjoyable, and seamless in-car infotainment. SYNC is the first version, which will be fully designed in-house at Ford. Besides having a thoughtful layout, the in-car infotainment by Ford is based on Blackberry’s QNX operating system.
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