Automotive Infotainment Market - Global Outlook and Forecast 2018-2023
This market research report on automotive infotainment market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (audio-only, display audio, and embedded infotainment - navigation), by vehicle type (economy cars, luxury cars, and mid-priced cars), and by geography (APAC, Europe, Latin America, North America, and MEA).
Automotive Infotainment Market - Overview
The advancement of automobile audio systems resulted in the advent of the infotainment systems or in-vehicle infotainment (IVI) systems. These systems were designed to address the needs of both entertainment and information for the driver and the passengers, thereby, promoting the growth of the global automotive infotainment market. The leading vendors are leveraging advanced technology to introduce sophisticated IVI systems that offer embedded video playing and additional functions such as parking assist, navigation, traffic assistance, control functions, and internet connectivity. The integration of smartphones and multimedia in these systems will enable key companies to occupy a larger automotive infotainment market size. The adoption of smart infotainment systems that enable a host of multiple applications such as navigation, telematics, and tracking systems will revolutionize the global market.
The growing trend of integrating digital design solutions will encourage the prominent players to launch innovative technological systems in the global market. The development of and launch of advanced interactive entertainment systems will intensify the level of the competition in the global market. The global automotive infotainment market is expected to generate revenues of more than $22 billion by 2023 and is expected to grow at a CAGR of over 5% during the forecast period.
Automotive Infotainment Market - Dynamics
The increasing focus on developing safety systems and the launch of advanced driver assistance systems (ADAS) will propel the growth of the global automotive infotainment market. These innovative systems are already commercially available and gaining immense popularity in the luxury car segment. The leading OEMs are actively investing in the innovation of effective manufacturing process that helps to reduce the cost of this technology to integrate it in the mid-priced and economy car segment in the global market. The implementation of mandatory safety regulations by various government regulatory bodies across the world will boost the adoption of ADAS systems in the global market. The demand for these innovative systems will create lucrative opportunities for vendors in the global market.
Automotive Infotainment Market - Segmentation
This market research report includes a detailed segmentation of the market by products, by vehicle type, and by geography.
Automotive Infotainment Market – By Products
Embedded infotainment systems are the fastest growing segment of the automotive infotainment market during forecast period
The global automotive infotainment market by products is segmented into audio-only, display audio, and embedded infotainment - navigation. Embedded infotainment systems occupied more than half of the total market share in 2017 and are expected to grow at a CAGR of approximately 8% during the forecast period. The increasing availability of ready-to-use IP and customization solutions is augmenting the growth of this market segment in the global market. The vendors are offering consumers the ability to customize the information on the display unit and systems with superior graphics to gain a larger market share and attract new end-users. The rising penetration of high-end infotainment systems in the luxury car segment in Europe and North America will encourage companies to launch innovative systems in these market during the forecast period.
Automotive Infotainment Market – By Vehicle Type
Increased adoption of infotainment systems in mid-priced cars to boost sales in the automotive infotainment market during forecast period
The vehicle type segment in the global automotive infotainment market is categorized into economy cars, luxury cars, and mid-priced cars. The mid-priced cars segment dominated the total market share in 2017 and is projected to grow at a CAGR of over 3% during the forecast period. The increase in per capita income disposable income worldwide and especially in the emerging countries in APAC is driving the demand for mid-priced cars in the global market. The growing demand for sophisticated infotainment systems is encouraging vendors to invest in technology to fulfill the dynamic consumer demands. The declining price trends for LCD and TFT will enable leading players to incorporate cost-effective infotainment systems in the mid-priced and economy car segment. The introduction of infotainment systems equipped with navigation and communication units will revolutionize the global market.
Automotive Infotainment Market – By Geography
APAC to dominate the market share in the automotive infotainment market during forecast period
The automotive infotainment market by geography is divided into APAC, Europe, Latin America, North America, and MEA. APAC dominated to total market share in 2017 and is expected to grow at a CAGR of more than 5% during the forecast period. Countries such as China, Japan, South Korea, and India are the leading automotive producers in the APAC market. Rapid urbanization and changing quality of lifestyle are the primary factors driving the growth of the infotainment systems market in the APAC region. China accounts for the major share in the automotive infotainment systems market in the APAC region. Additionally, the government initiatives to promote safety systems in the automotive industry in the region will boost the demand for these systems in the APAC market during the forecast period.
Key Countries Profiled
The key countries profiled in the report are:
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