Global Commercial Vehicle Infotainment System Market 2017-2021
About Commercial Vehicle Infotainment System
Commercial vehicle infotainment systems allow the driver to control audio or video sources as per his preferences from his position. Along with entertainment, these systems also provide information regarding the vehicle, navigation, and connectivity. The global automotive industry is highly competitive. Due to the nature of competition, product life cycle, and consumer demand, the global automotive industry goes through dynamic growth phases. Currently, the industry is characterized by companies relocating their production centers from developed to developing regions. During the 2008-2009 global financial crisis, the industry experienced a considerable decline in demand. However, the markets have stabilized now, which is primarily due to the relative economic stability in developed nations. The exhibit below depicts the GDP performance of top economies.
Technavio’s analysts forecast the global commercial vehicle infotainment system market to grow at a CAGR of 12.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global commercial vehicle infotainment system market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Commercial Vehicle Infotainment System Market 2017-2021
Technavio recognizes the following companies as the key players in the global commercial vehicle infotainment system market: Alpine Electronics, Continental, Delphi, Denso, HARMAN International, and Panasonic.
Other Prominent Vendors in the market are: Airbiquity, Clarion, CSR, FUJITSU TEN, Garmin, Parrot Automotive, Bosch, TomTom International, and Visteon.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is development of HUD for commercial vehicles. Rising luxury features in the commercial vehicles increased the comfort level of the customers and increased the customer expectations as well. These expectations were keeping HMI suppliers busy in developing new technologies for the automotive HMI systems. This led to the development of intelligent features like HUDs, which increased the comfort level of the driver to another level. In addition, HUDs help reduce driver distraction. For instance, Continental was one of the first vendors to introduce HUD technology for commercial vehicles in 2016. Continental allows the consumers to choose the position of the display in the upper or lower field of view for confined spaces with more steeply curved windshields. In addition, all the information is sent to the driver at the right time. Continental used AMOLED display to create clear and non-distracting user interface. Another feature in this holistic HMI for the commercial vehicle was the use of HUDs with augmented reality that display relevant information from driver assistance and navigation systems. The navigation system used by the augmented reality HUD is named Pixel Light, and it projects navigation hints to the road.”
According to the report, one driver in market is automotive OEM push for embedded connectivity in BRIC nations to drive revenue growth. Embedded connectivity market is dominated by developed countries like Europe and the US. The main advantage of embedded connectivity is the reliability of its data due to its 24x7 connected environment. The same is not true for tethered and smartphone integration solutions where the connectivity of the device depends on the user. As a result, regulatory bodies will pass legislations in future to encourage installation of embedded telematics, which will lead to increased adoption of embedded telematics in the industry. The automotive telematics and infotainment markets are expanding at a fast pace in the emerging markets, especially in BRIC countries. With the rising interest in navigation and infotainment services among consumers, OEMs in collaboration with automotive connectivity solution providers are planning to introduce new products and services to seize opportunities in the BRIC countries effectively.
Further, the report states that one challenge in market is higher cost associated with fleet tracking. Initial costs when setting up telematics include license fee, setup and installation fee, and payment for customization and integration with the current systems. The license has to be renewed periodically, which adds to the overall cost. In addition, integration or customization can be more expensive than the price of telematics devices and license fee. For instance, UK’s Tracker has a base rate of $381 for its Tracker Fleet offering, with a monthly fee of $18.69 for a one-year subscription. Hidden costs can also pose a challenge to the growth of the market as well. Providers levy roaming charges for vehicles that travel beyond a country’s borders. Companies also charge as per situations involving vehicle replacement and end-contractual equipment termination.
Alpine Electronics, Continental, Delphi, Denso, HARMAN International, Panasonic, Airbiquity, Clarion, CSR, FUJITSU TEN, Garmin, Parrot Automotive, Bosch, TomTom International, and Visteon.