The in-car infotainment market has been segmented by distribution channel into OEM and Aftermarket, out of which OEM dominated the in-car infotainment market with highest share in terms of revenue and is anticipated to continue its dominance over the forecast period. This can be attributed to technical developments in automotive companies. Further, factors such as consumer demand for entertainment, information and communication services are anticipated to drive the growth of in-car infotainment market in upcoming years.
The global market for in-car infotainment is expected to flourish at a compound annual growth rate of 9.3% over the period 2017-2024. This can be attributed to rising middle class population which is further driving the growth of increasing automobiles on road. Further, the inclination in the adoption of technologically advanced cars is estimated to boom the in-car infotainment market by noteworthy revenue by the end of 2024.
In regional segment, Europe is expected to dominate the global in-car infotainment market over the forecast period where Germany and the U.K are leading markets for the in-car infotainment systems. This can be attributed to rising demand for high-performing cars in these countries. Further, rising GDP is anticipated to make Asia Pacific as the highest growing market for in-car infotainment systems. Factors such as improvement in flexible spending and consumer’s inclination towards luxury cars are fostering the growth of technologies in this region. This is another factor to drive the growth of in-car infotainment market in Asia Pacific region.
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Growing Demand for Technically Advanced Cars to Boom the Market
Factors such as increasing demand, production and sales of technologically advanced cars are expected to benefit the expansion of in-car infotainment market owing to rising disposable income coupled with increasing purchasing power of consumer. Moreover, rising urbanization and easy financing options are believed to anticipate the sales of cars all across the globe which is further believed to supplement the growth of the in-car infotainment market.
However, factors such as need to upgrade system software on timely basis and higher price of in-car infotainment systems are likely to inhibit the growth of the in-car infotainment market in the near future.
The report titled “In-Car Infotainment Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the in-car infotainment market in terms of market segmentation by vehicle, by distribution channel, by product and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the in-car infotainment market which includes company profiling of Panasonic Corporation, Harman International Industries, Continental AG, Pioneer Corporation, Alpine Electronics, Garmin, Tom Tom International, JVC Kenwood Corporation, Blaupunkt GmbH, Denso Corporation, Delphi Automotive LLP and Audi AG.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the in-car infotainment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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