The In-Car Infotainment Industry Overview
In-Car Infotainment Market is expected to garner $33.8 billion by 2022, registering a CAGR of 13.3% during the forecast period 2016 - 2022. In-car infotainment market is basically an amalgamation of wide features integrated in the cars to provide entertainment, information and communication services. In-car infotainment refers to the complete unit of navigation, climate control information. These systems manage audio & video content while providing updates and information on traffic conditions and weather forecast. Advanced infotainment systems are equipped with connectivity options like Bluetooth and Wi-Fi, interactive voice recognition services, live media streaming service and smart technology for mobile integration, among others.
Booming smartphone industry and aggrandized use of cloud technology has led to a higher adoption of in-car infotainment systems. Therefore, the world in-car infotainment systems market is expected to witnessed a double-digit growth rate owing to use of high-performance interfaces, such as control units, human machine interfaces (HMI), and operating controls. However, lack of seamless connectivity and complexity of in-car infotainment devices are major challenges for the players operating in the industry. Irrespective of challenges, personalization facility is creating an opportunity to the market.
The world In-car infotainment market is segmented on the basis of installation type, components, end user, and geography. Based on installation type, world in-car infotainment systems market is segmented into OEM and aftermarket. The segment OEM installation dominates the global market in terms of revenue and is expected to maintain this trend throughout the forecast period, owing to technological advancements in the automotive electronics industry. Market is categorized as hardware and software based on components. Hardware is one of the major components of in-car infotainment system and software is expected to dominate the market owing to faster performance, interactive voice recognition, intuitive touch screen, and swift graphical interface. Hardware market is further sub segmented into four different types namely, audio unit, display unit, connectivity and others. The other segment includes climate control, Bluetooth and interactive voice recognition (IVR). The world in-car infotainment market is segmented on the basis of geographical regions, encompassing North America, Europe, Asia-Pacific and LAMEA. Europe accounted for the largest share of the global market, owing to higher per-capita spending on luxury cars. However, Asia-Pacific would be the fastest growing region due to increased demand for advanced cars.
World In-car infotainment market segmentation
Top investment pockets
Comprehensive competitive analysis and profiles of major market players, such as Bayerische Motoren Werke AG (BMW), Panasonic Corporation, Harman International Industries, Fujitsu Ten Ltd., Delphi Automotive PLC, Denso Corporation, Ford Motor Company, General Motors Company, Audi AG, and Visteon Corporation are also provided in this report. Presently, the in-car infotainment market is largely driven by growth strategies such as product launch, acquisition and partnership. Companies such as Audi AG, Visteon Corporation, Fujitsu, and Visteon Corporation have launched new innovative car to attract more number of customers and increase their market share.
TOP FACTORS IMPACTING WORLD IN-CAR INFOTAINMENT MARKET
Top factors impacting world In-car infotainment market
Growing Adoption of Smartphones
Smartphone adoption has been the most prominent factor in proliferation of the in-car infotainment market. Currently, the demand for advanced in-car infotainment system with mobile integration technology is rapidly growing. This is one of the key reasons for the boom in the smartphone industry, which is supporting the market growth. Smartphones act as a bridge between end user and infotainment. Smartphone integration with in-car infotainment system have reduced product cost by leveraging existing connectivity and processing power of mobiles. In addition to this, it also delivers easy access to the downloaded applications. Therefore, it helps the consumers in keeping pace with the consumer daily changing lifecycle.
Lack of uninterrupted, seamless connectivity
With the rapid technological advancements, companies have enabled advanced features in latest in-car infotainment systems. The amplified consumption and digital content creation within the vehicle is driving the need for more sophisticated and connected in-car infotainment systems. However, lack of seamless and uninterrupted connectivity is restraining the market growth, as there are still some areas, which do not have proper connectivity. Hence, manufacturers are trying to present advanced mode of connectivity in in-car infotainment systems. As a result, lack of seamless connectivity is expected to reduce its impact in near future.
In-car infotainment is an advanced facility in vehicles. Companies are currently introducing customized solutions for cars that satisfy customer-specific requirement. Today, end users demand personalized in-car infotainment systems such as customized music, advanced suite of technology, entertainment services, text messaging, smartphone integration facility and live audio streaming. Moreover, personalization facility has become one of the important criteria for consumers while buying a car. Therefore, personalization positively influences the market growth.
- The study provides an in-depth analysis of the world In-car infotainment market to elucidate the prominent investment pockets in the market.
- Current and future trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
- Geographically, the market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA
- Analysis of value chain is conducted for better understanding of the role of intermediaries.
- SWOT analysis highlights the internal and external environment of the leading companies for current strategy formulation.
IN-CAR INFOTAINMENT MARKET SEGMENTATION
By Installation type
- North America