Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
The automotive infotainment market valuation is estimated to cross USD 48.3 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rising popularity of streaming services, digital music, and smartphone applications serves as a significant growth driver for the market. According to Forbes in 2024, the video streaming industry, currently valued at $544 billion, is projected to reach $1,902 billion by 2030. As consumers rely on these digital platforms for entertainment and information, there is a growing demand for in-car entertainment and connectivity features that integrate with their digital lifestyle. This includes multimedia systems, internet connectivity, and streaming media integration within vehicles, providing passengers with access to a wide range of content while on the road. Automakers and infotainment system providers are responding to this demand by incorporating advanced technologies to enhance the in-car entertainment experience, there by driving automotive infotainment market growth.
The wider acceptance of electric and autonomous vehicles has led to a greater focus on in-car entertainment and connectivity features. As these vehicles become more prevalent, there is a growing demand for advanced infotainment systems that provide entertainment, navigation, and connectivity options tailored to the needs of electric and autonomous vehicle users.
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The automotive infotainment market from the audio units segment is poised to gain substantial traction through 2032, as they encompass a wide range of in-car audio systems, including radio receivers, CD players, MP3 players, and digital audio broadcasting (DAB) receivers. With consumers placing importance on in-vehicle entertainment and audio quality, manufacturers are introducing innovative audio unit solutions with features such as surround sound, digital signal processing, and smartphone connectivity. The integration of advanced audio technologies and customizable audio settings enhances the overall driving experience, adding to the demand for audio units.
Light Commercial Vehicles (LCVs) segment is anticipated to expand at a rapid pace till 2032, as they are being equipped with advanced infotainment systems to meet the evolving needs of commercial fleet operators and professional drivers. Infotainment systems in LCVs provide essential features such as navigation, communication, and entertainment, enhancing driver productivity, comfort, and safety. With the growing demand for connected fleet management solutions and telematics integration, LCVs are expected to drive significant demand for advanced infotainment systems in the coming years.
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North America automotive infotainment market is anticipated to grow at a decent pace during the study period, driven by a strong automotive sector, technological innovation, and consumer preferences for advanced in-car entertainment and connectivity solutions. The presence of major automotive manufacturers and technology companies, coupled with increasing investments in R&D, is contributing to the rapid adoption of advanced infotainment systems in the region. Additionally, the inclination for connected and electric vehicles, along with government initiatives promoting vehicle safety & connectivity, is further propelling market growth.
Major contenders in the automotive infotainment market include, Panasonic Corporation, Continental AG, Harman International Industries, Incorporated (a subsidiary of Samsung Electronics Co., Ltd.), Pioneer Corporation, Denso Corporation, Garmin Ltd., Alpine Electronics, Inc., Clarion Co., Ltd., TomTom N.V., and Visteon Corporation.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2018 - 2032
Chapter 3 Automotive Infotainment Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Raw material & component suppliers
3.2.2 Software providers
3.2.3 Network providers
3.2.4 Technology providers
3.2.5 Manufacturers
3.2.6 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing demand for a more connected and entertaining driving experience
3.8.1.2 Development of new technologies in the automotive sector
3.8.1.3 Growing adoption of autonomous and electric vehicles
3.8.1.4 Rising demand for personalization in cars
3.8.2 Industry pitfalls & challenges
3.8.2.1 High development and integration costs
3.8.2.2 Technology obsolescence
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
