Dublin, Dec. 31, 2021 (GLOBE NEWSWIRE) -- The "Global Automotive Infotainment Market Size, Share & Trends Analysis Report by Product Type (Heads-up Display, Navigation Unit, Display Unit), by Fit Type, by Vehicle Type, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive infotainment market is expected to reach USD 12.57 billion by 2028, registering a CAGR of 8.7% from 2021 to 2028.
The increasing demand for autonomous vehicle technology, automotive cockpit electronics, and advanced safety features such as advanced driver assistance systems is anticipated to drive the growth. The growing demand for enhanced in-vehicle experience and shifting consumer buying behavior and the worldwide expansion of the luxury and premium car segments are also likely to fuel the growth of the market.
The growing number of millennials opting for small and medium-sized cars is expected to boost the growth of the market growth. Furthermore, consumers are inclined to buy these cars, compared to premium cars, owing to their cost-effectiveness. In addition to this, the introduction of medium-sized SUVs has further encouraged the market growth as consumers can buy a bigger-sized vehicle at a lower cost.
Automotive infotainment technology is expected to gain significant demand as major automotive components and solution providers are engaging in developing complete automotive infotainment solutions. For instance, in May 2021, BMW AG announced iDrive 8, the latest infotainment system for its vehicles. The new iDrive 8 provides enhanced voice-recognition software and a massive touchscreen with multiple new features. It will be initially debuted on the new electric i4 sedan and iX SUV.
The introduction of Artificial Intelligence (AI)-based infotainment systems is also expected to contribute to the market growth. However, the market is characterized by a negligible regulatory framework regarding product manufacturing, resulting in counterfeit and low-quality products. Such negative trends are expected to hinder the market growth.
Emerging economies such as China and India are expected to contribute significantly to the growth of the market for automotive infotainment. The development is characterized by the increase in the adoption of mid-sized cars, which enables automotive companies to offer infotainment products for this car segment.
Market Highlights
- The head-up display segment is expected to expand at the highest CAGR of around 10% over the forecast period owing to the integration of augmented reality for enhanced safety and driving experience
- The OF fitted segment dominated the market in 2020 and is anticipated to generate over USD 9.6 billion by 2028 owing to the benefits such as easier servicing and maintenance
- The passenger car segment accounted for the largest revenue share of around 80% of the overall market in 2020. The increasing demand for connected car features in passenger vehicles and the onset of autonomous vehicles are expected to drive the growth of this segment
- Asia Pacific accounted for the largest market share in 2020. The regional market growth can be attributed to the increased production and sales of passenger vehicles in the region
Market Variables, Trends, and Scope
- Penetration & Growth Prospect Mapping
- Automotive Infotainment Market - Value Chain Analysis
- Automotive Infotainment Market Dynamics
- Automotive Infotainment Industry Analysis - PESTLE
- Automotive Infotainment Industry Analysis - Porter's Five Forces
Product Type Estimates & Trend Analysis
- Product Type Movement Analysis & Market Share, 2020 & 2028
- Market Size & Forecasts and Trends Analysis, 2016 - 2028 (USD Billion, Units)
Fit Type Estimates & Trend Analysis
- Fit Type Movement Analysis & Market Share, 2020 & 2028
- Market Size & Forecasts and Trends Analysis, 2016 - 2028 (USD Billion, Units)
Vehicle Type Estimates & Trend Analysis
- Vehicle Type Movement Analysis & Market Share, 2020 & 2028
- Market Size & Forecasts and Trends Analysis, 2016 - 2028 (USD Billion, Units)
Regional Estimates & Trend Analysis
- Regional Movement Analysis & Market Share, 2020 & 2028
- Market Size & Forecasts and Trends Analysis, 2016 - 2028 (USD Billion, Units)
Competitive Landscape
- Alpine Electronics
- Clarion Co. Ltd.
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Harman International
- JVC KENWOOD Corporation
- Panasonic Corporation
- Pioneer Corporation
- Visteon Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ua63oi
