Advertising Driven Press Release Distribution
Advertising Driven Press Release Distribution
The In-Vehicle Infotainment Market is projected to grow from USD 20.8 billion in 2021 to USD 38.4 billion by 2027, at a CAGR of 10.8%. Government mandates on telematics and e-call services, Emergence of various technologies such as 5G and AI, and ADAS and other autonomous solutions are expected to offer promising growth opportunities in the In-vehicle infotainment market.
Asia Pacific holds the largest share of the in-vehicle infotainment market during the forecast period. It witnessed higher growth in vehicle production than Europe and North America due to the availability of labor at lower wages, reduced production costs, lenient vehicle safety norms, and government initiatives for FDIs in the region in both pre-and post-COVID-19. Vehicle production is mostly driven by countries such as China, South Korea, India, and Japan, which contributes ~88% of the total production of vehicles, and these countries within the region contributed ~55% of the global vehicle production in 2021. Thus, increasing vehicle production, along with changing consumer preferences and growing per capita income of the middle-class population, is driving the vehicle demand and encouraging automotive OEMs to increase production capacity and offer infotainment systems in the lower-range cars as well
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=538
Growing consumer focus on passenger safety and availability of entertainment services such as music, video streaming, navigation features are major factors driving the in-vehicle infotainment market in developed and developing countries. This demand is primarily driving the front row infotainment system demand globally.
Additionally, growing luxury vehicle sales and demand for screens for rear passengers to offer a more personalized experience and comfort are factors expected to fuel the rear row in-vehicle infotainment system market during the forecast period. The emergence of 5G is also expected to contribute to the development of the in-vehicle infotainment market. In 2021, with the BMW iX, BMW Group became the first premium manufacturer to integrate 5G mobile radio standard into a globally available production vehicle, and Vodafone is offering the first 5G mobile radio contract to BMW Group for such vehicles. Thus, considering the abovementioned factors, the in-vehicle infotainment system market is expected to grow significantly in the future.
By form type, the embedded segment is estimated to account for the largest market share of ~48-50% in 2021. The integrated segment is estimated to be the second-largest form segment with a ~32% market share in 2021. The growth in embedded technology is mainly driven by regulatory mandates in the EU, which mandated that all new car models in member states must have embedded technology as part of its European eCall system. The embedded form type is prevalent in Europe and North America, while the integrated form type is growing in popularity in Asia Pacific and RoW. The major driver for this trend is the cost-sensitive nature of the regions (Asia Pacific and RoW), which prefer integrated connectivity as it is more economical than the embedded form. The market for the integrated form type, whose adoption is growing rapidly in the aforementioned regions, is projected to register a CAGR of 12.4% globally.
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=538
The operating system segment of the in-vehicle infotainment market is driven by Linux OS at present. However, Android Automotive OS is an open-source platform that reduces the cost of using it to zero, and it is cheaper to install than most other systems. Presently, it provides access to a series of services already having millions of users across the world and is expected to register the highest growth in the OS segment during the forecast period. Moreover, many automotive suppliers and OEMs are working on the development and commercialization of Android Automotive OS; for instance, in August 2021, Renault announced to install Android Automotive in some of the models launched by its brands, and Renault Megane E-Tech would be the first to be introduced. Audi and Volvo have partnered with Google to use upgraded versions of infotainment systems. General Motors and Stellantis announced that they would use Google’s new Android operating system to power infotainment systems in all their vehicles by the end of 2023. Hence, Android Automotive OS is expected to emerge as key OS for in-vehicle infotainment companies and register the highest growth rate of 36.4% during the forecast period.
The infotainment market for electric vehicles is growing at a significant rate over ICE cars. Due to the introduced stringent emission regulations around the world, unstable oil prices, and shifting focus toward an environment-friendly ecosystem have fueled the demand for electric vehicles globally. Further, the penetration of advanced and connected technologies in EVs is higher, and demand for luxury and premium electric cars is on the rise. Luxury brands such as Mercedes-Benz, Tesla, and Audi are gaining their market share in luxury EV sales and are adding other luxury EV models in their product lineups. Multiple OEMs have announced to launch several EV models in the coming years. Growing electric vehicle sales, including premium vehicles, would consequently push the demand for in-vehicle infotainment in this segment.
The passenger car retrofitting of infotainment systems leads the market during the forecast period. Along with increase in vehicle production at the global level, growing technological advancements, introduction of sophisticated systems, improved connectivity infrastructure (4G/5G), rising disposable income, and changing preferences have shifted consumer focus on retrofitting of infotainment systems in newly sold cars. Lower to mid-range cars hold the dominant share in vehicle production, especially in developing countries of Asia Pacific and RoW, and most of these cars are not offered with infotainment systems or are installed with normal systems without touchscreen and other functionalities. On the other side, OEMs have also started offering embedded devices in lower-end cars from mid-range trims to sustain the competition, and the trend is expected to remain the same in the future as well. All these factors would keep the demand for retrofitted infotainment systems in the coming years.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=538
Industrial Automation Market in Europe and MEA worth $51.4 billion by 2026
Low Carbon Propulsion Market | Here’s All You Need to Know
Temperature Monitoring Systems Market Worth $5.4 billion by 2024
Cosmetic Pigments Market – Increasing Demand for Cosmetic Pigments in Cosmetic and Personal Care Products
Key Industry Trends in the Smart Factory Market