Automotive Infotainment Systems Market is forecast to Reach US$ 18.15 BN by 2031, Due to the escalating consumer demand

Automotive Infotainment Systems Market 2024

Automotive Infotainment Systems Market Size, Share, Growth Report and Forecast 2024-2031.

AUSTIN, TEXAS, UNITED STATES, April 10, 2024 /EINPresswire.com/ — Automotive Infotainment Systems Market, according to the SNS Insider report, reached a size of USD 8.97 billion in 2023. It is expected to achieve a valuation of USD 18.15 billion by 2031, reflecting a compound annual growth rate (CAGR) of 8.92% for the forecast period from 2024 to 2031.

The Rise of Connected Cars

The rise of connected cars is a key driver of the automotive infotainment systems market. Cars are no longer simply a mode of transportation; they are evolving into extensions of our digital lives. Consumers expect their vehicles to offer features like navigation, internet connectivity, voice commands, and seamless integration with smartphones. This demand for a connected car experience is propelling the growth of the infotainment systems market.

Market Analysis

The automotive infotainment market is flourishing due to a confluence of factors. The demand for these systems is surging across the industry. Secondly, the rise of cars with Driver-Assistance Systems (DAS) is fueling the market as these systems often integrate with infotainment for a unified user experience. Additionally, the growing adoption of open-source platforms for app development is fostering innovation and a wider variety of in-car apps. Finally, a key trend is the integration of infotainment systems with other car functions like climate control and driver-assistance features, creating a more holistic and user-friendly in-car environment.

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Leading Key Players of Automotive Infotainment Market

Continental AG

Harman International

Panasonic Corporation

Pioneer Electronics

Aisin Corporation

DENSO Corporation

Pioneer Corporation

KENWOOD Corporation

Garmin Ltd.

Alpine Electronics Inc.

ALLGo Embedded Systems Pvt. Ltd.

Delphi Automotive PLC

Segment Analysis

The market dominance varies based on installation type and vehicle type. In-dash systems, acting as the central hub for information and entertainment, capture a commanding 70% share, while rear-seat entertainment systems cater to families with a 30% stake. Passenger cars reign supreme (81.2%) due to features like in-vehicle calling and connected cabins. Light commercial vehicles hold a smaller share, but Electric Vehicles (EVs) are a rising star, projected to reach 10% by 2031. Heavy commercial vehicles currently prioritize functionality, but advancements in autonomous driving could make infotainment more relevant in the future. Finally, the market splits into Original Equipment Manufacturer (OEM) systems (65%) pre-installed in new cars and Aftermarket systems (35%) added by consumers or dealerships for upgrades.

Segmentation of Automotive Infotainment Market

By Installation Type

In-dash

Rear-seat

By Vehicle Type

Passenger vehicles

Light Commercial vehicles

Electric Vehicles

Heavy Commercial vehicles

By Market Type

OEM

Aftermarket

By Region

North America

Europe

Asia-Pacific

Middle East & Africa

Latin America

Impact of the Russia-Ukraine War

The ongoing conflict in Ukraine has exacerbated existing challenges in the automotive supply chain, impacting infotainment systems. Ukraine played a crucial role as a supplier of wiring harnesses, vital for interconnecting electronic components in vehicles. Additionally, sanctions on Russia, a major neon gas producer critical for chip manufacturing, have further hindered the availability of essential parts. These disruptions are estimated to have led to a global decline of 400,000 vehicles produced, affecting the installation of infotainment systems. While car manufacturers are working to identify alternative suppliers, the war’s impact is expected to persist throughout 2024, gradually easing as solutions are found.

Impact of Economic Slowdown

The economic slowdown is posing a challenge to the automotive infotainment systems market. Rising inflation and interest rates are reducing consumer disposable income, leading to a decline in non-essential purchases like new cars. This could result in a projected 10% decrease in demand for new vehicles, consequently affecting the infotainment systems market and potentially stalling its growth.

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Key Regional Developments

The Asia Pacific region is projected to lead the market in 2023, accounting for approximately 35% of the global share. This dominance is driven by factors like increasing disposable incomes, urbanization trends, and a rising demand for technologically advanced vehicles. Europe and North America follow closely, while other regions are poised for notable growth, particularly due to escalating production in emerging economies. Notably, within the Asia Pacific region, China is expected to be a major growth driver, fueled by government incentives for electric vehicle adoption and a growing middle class with a preference for feature-rich cars.

Key Takeaways for Automotive Infotainment Systems Market Study

The connected car revolution is driving demand for advanced infotainment systems. Consumers are seeking a seamless and integrated in-car experience, pushing carmakers to prioritize advanced infotainment features.

Open-source platforms and app development are fostering innovation. The rise of open-source platforms is encouraging the creation of a wider variety of in-car apps, further enhancing the user experience.

Integration with other car functionalities is a key trend. Infotainment systems are no longer isolated units; they are increasingly integrated with other vehicle features like climate control and driver-assistance systems, creating a more holistic in-car environment.

Fueled by rising disposable incomes, urbanization, and increasing EV adoption, the Asia Pacific region is expected to be a dominant market for automotive infotainment systems.

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Recent Developments

In June 2022, BMW announced the incorporation of Android Automotive OS alongside their existing system, highlighting a growing trend of automakers embracing familiar and user-friendly operating systems within their vehicles.

LG Electronics’ substantial deal in July 2022 to supply vehicle components and infotainment systems underscores the industry’s focus on enriching the in-car experience. This shift is driven by consumer demand for features like in-vehicle calling, seamless data connectivity, and advanced navigation.

Table of Content

1.Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Automotive Infotainment Market Segmentation, By Installation Type

9. Automotive Infotainment Market Segmentation, By Vehicle Type

10. Automotive Infotainment Market Segmentation, By Market Type

11. Regional Analysis

12. Company Profile

13. Competitive Landscape

14. USE Cases and Best Practices

15. Conclusion

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