Pune, April 11, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, the Automotive Infotainment Market was assessed at USD 8.47 billion in 2022, and it is anticipated to expand at a CAGR of 8.9% during the forecast period of 2023-2030, reaching a market value of USD 16.75 billion.
Automotive infotainment refers to the integration of entertainment and information features into a vehicle's dashboard or center console. It is a technology that allows drivers and passengers to access various forms of entertainment and information, such as music, navigation, and internet connectivity, while on the go. These systems also provide a safer driving experience by reducing the need for drivers to take their hands off the wheel or eyes off the road to control the vehicle's entertainment and information systems.
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Automotive Infotainment Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 8.47 Billion |
| Market Size by 2030 | US$ 16.75 Billion |
| CAGR From 2023 to 2030 | CAGR of 8.9% |
| Key Segments | • by Type (Bus, Light rail, Metro, Regional taxi, Tram) • by Application (Rural, City) |
| Company Profiles | Seoul Metro (South Korea), Madrid Metro, Transport For London (UK), The San Diego Metropolitan Transit System (US), TEMSA Global, MTR Corporation (Hong Kong), Metropolitan Transportation Authority (US), Gillig Corporation, Chicago Transit Authority (US), Bay Area Rapid Transit (BART) (US), and Massachusetts Bay Transportation Authority (US) |
| Market Drivers | •Consumer preferences are shifting toward carpooling, train travel, ride-sharing, air travel, and bus travel. •Increase in urban population and easier and more convenient transportation for these people. •Many raw material supplying industries are shifting their focus to distributing their goods via public transportation. |
Market Analysis
The automotive infotainment market is primarily driven by the increasing demand for enhanced driving experience, convenience, and connectivity in vehicles. The integration of advanced infotainment systems in cars, such as touchscreens, voice control, and navigation systems, has become a crucial factor for customers while making purchasing decisions. Additionally, the growing adoption of smart technologies, such as IoT and AI, in the automotive industry, is further propelling the growth of the infotainment market. Furthermore, the increasing production of electric vehicles and the need for eco-friendly mobility solutions are expected to provide lucrative opportunities for market players in the market.
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Impact of Recession
The impact of a recession on the automotive infotainment market can be significant, but it ultimately depends on a variety of factors such as consumer demand, production costs, and advancements in connected vehicle technologies. Despite the potential challenges, there is still a growing market for advanced infotainment systems, and automakers will continue to innovate and adapt to changing economic conditions.
Key Regional Development
The automotive infotainment market is an ever-evolving industry that has witnessed significant growth in recent years, with North America leading the pack. The region's established economy and strong investments in the automobile industry make it an ideal market for car infotainment systems. With the introduction of advanced technology and the increasing demand for connected cars, North America is poised to maintain its lead in the global car infotainment market. The increasing adoption of advanced driver assistance systems and the growing demand for in-car entertainment systems have further fueled the demand for car infotainment systems in Europe.
Key Takeaway from Automotive Infotainment Market Study
- The in-dash segment is poised to become a major battleground in the market. Automakers that can offer the most advanced and user-friendly in-dash systems will likely gain a competitive edge and win over customers in the years to come.
- The passenger vehicles segment is expected to experience the fastest growth in the market due to the increasing demand for luxury and comfort features in cars. Consumers are willing to pay a premium for advanced infotainment systems that offer a seamless and enjoyable driving experience.
Recent Developments Related to Automotive Infotainment Market
- Tietoevry, a leading Nordic digital services company, has teamed up with HaleyTek, an automotive software developer, to introduce a state-of-the-art Android-based infotainment system for Polestar cars. The move is aimed at providing an immersive in-car experience that will satisfy the high-end demands of Polestar customers.
- Hyundai Mobis, a South Korean multinational automotive parts manufacturer, has teamed up with a Swiss technology company to promote their latest in-vehicle infotainment system. This partnership aims to provide drivers with an exceptional experience by combining cutting-edge technology with user-friendly features.
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