(MENAFN- GlobeNewsWire - Nasdaq) India, Pune, Sept. 27, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global automotive infotainment systems market size was worth USD 25 billion in 2020 and is estimated to record a CAGR of 8% over 2021-2027, subsequently accruing revenues amounting USD 42.85 billion by the end of forecast period.
The study also offers a detailed analysis of the sub-markets, including installation type, vehicle type, and geographical landscape, thus revealing the prominent opportunities for investment in the upcoming years. It further briefs about the major players to offer a clear understanding of the competitive scenario and assist stakeholders in formulating beneficial business strategies. Besides, an exclusive study of industry value chain, from the suppliers to the distributors and consumers, is entailed in the document.
With increasing use of electronic devices, IVI (in-vehicle infotainment) is witnessing rapid expansion, which along with consumer inclination for enhanced comfort, safety, and convenience in automobiles, having features like smartphone connectivity, live audio streaming, on-demand music, and other entertainment services, is impelling the market growth. Moreover, technological advancements in these systems, such as enhanced visual user interfaces, speech recognition, and intuitive touchscreens, are likely to augment the market development over the estimated timeline.
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For instance, Nissan Motor Co. Ltd., Mitsubishi Motors Corporation, and Groupe Renault, and many more have opted to use Google Inc.'s Android operating system (OS) in their next-generation infotainment systems launching in 2021. Additionally, starting with the new Crown model in 2018, Toyota Motor Corporation integrated digital apps like Line to its T-Connect infotainment system in Japan.
For the record, automotive infotainment devices comprise systems for safety, fuel efficiency, connection, audio, and navigation, along with systems for entertainment and information. Advancements in the electronics and telecommunication fields have resulted in the development of automotive infotainment devices that address customer priorities based on navigation, maintenance, and safety.
Market segmentation overview:
Based on installation type, worldwide automotive infotainment systems industry is segmented into rear-seat infotainment, and in-dash infotainment. Speaking of vehicle type, the marketplace is divided into commercial vehicles, and passenger cars.
Geographical outlook:
The regional analysis of global automotive infotainment systems market consists of North America, Asia Pacific, Europe, and Latin America. Analysts cite that Asia Pacific held the largest revenue share in 2020 and is likely to continue serving as a lucrative growth avenue with a 10.2% CAGR throughout the study period. This growth can be credited to increasing passenger vehicle sales and manufacturing due to improved income levels and strong demand for automobiles in the region.
Meanwhile, Europe industry is anticipated to showcase strong growth rate through 2027, as it is a manufacturing hotspot with many high-end carmakers and automakers. OEMs like Volkswagen, BMW, Daimler, Honda, Jaguar Land Rover, and Nissan have made heavy investments in the automotive manufacturing industry in the region.
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Global Automotive Infotainment Systems Market, by Installation Type (Revenue, USD Billion, 2018-2027)
- In-dash Infotainment
- Rear-seat Infotainment
Global Automotive Infotainment Systems Market, by Vehicle Type (Revenue, USD Billion, 2018-2027)
- Passenger Car
- Commercial Vehicle
Global Automotive Infotainment Systems Market, Regional Terrain (Revenue, USD Billion, 2018-2027)
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- RoAPAC
Latin America
North America
Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Rest of Europe
Rest of the World
Global Automotive Infotainment Systems Market, Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Visteon Corporation
- Pioneer Corporation
- JVC Kenwood Holdings Inc.
- Harman International
- DENSO Corporation
- Delphi Automotive PLC
- Continental AG
- Clarion Co. Ltd.
- Alpine Electronics Inc.
- Panasonic Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Automotive Infotainment Systems Market, by Region, 2019-2027 (USD Billion)
1.2.2. Automotive Infotainment Systems Market, by Installation, 2019-2027 (USD Billion)
1.2.3. Automotive Infotainment Systems Market, by Vehicle, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automotive Infotainment Systems Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automotive Infotainment Systems Market Dynamics
3.1. Automotive Infotainment Systems Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing demand for infotainment systems in mass production of vehicles
3.1.1.2. Integration of smartphones with IVI systems
3.1.1.3. Increased support for open-source and standard platforms
3.1.2. Market Challenges
3.1.2.1. Design complexity
3.1.2.2. Rising concerns about data security
3.1.3. Market Opportunities
3.1.3.1. Data analytics in infotainment systems
Chapter 4. Global Automotive Infotainment Systems Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Automotive Infotainment Systems Market, by Installation
5.1. Market Snapshot
5.2. Global Automotive Infotainment Systems Market by Installation, Performance - Potential Analysis
5.3. Global Automotive Infotainment Systems Market Estimates & Forecasts by Installation 2018-2027 (USD Billion)
5.4. Automotive Infotainment Systems Market, Sub Segment Analysis
5.4.1. In-dash infotainment
5.4.2. Rear-seat infotainment
Chapter 6. Global Automotive Infotainment Systems Market, by Vehicle,
6.1. Market Snapshot
6.2. Global Automotive Infotainment Systems Market by Vehicle, Performance-Potential Analysis
6.3. Global Automotive Infotainment Systems Market Estimates & Forecasts by Vehicle, 2018-2027 (USD Billion)
6.4. Automotive Infotainment Systems Market, Sub Segment Analysis
6.4.1. Passenger cars
6.4.2. Commercial vehicles
Chapter 7. Global Automotive Infotainment Systems Market, Regional Analysis
Related Report:
Automotive Electronics Market Size, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
The automotive electronics market size is estimated to witness significant growth by 2027 owing to increasing consumer demand for advanced, tech-savvy, and efficient vehicles across the globe. With the rising prominence of automotive electronics, industry players are capitalizing on market trends to extend their consumer reach across leading markets. For instance, in May 2021, Duckyang, an automotive electronics supplier, announced a $10 million investment towards building its first U.S. facility in Georgia. The plant is intended to offer battery components to SK Innovation, a company that would provide electric vehicle (EV) batteries to Volkswagen and Ford. Currently, Duckyang supplies cockpit modules to Renault Samsung Motors and Hyundai and its subsidiaries Kia, Mobis, and Genesis. In 2020, the body electronics sub-segment held over 20% share in the automotive electronics market and is expected to grow at a considerable pace over 2021-2027. Rising trend towards electrification in vehicles, along with the surging consumer preference for high comfort features while driving, is anticipated to contribute to segmental adoption across the globe in the coming years.
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