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Automotive Infotainment Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The automotive infotainment systems market was valued at USD 24. 54 billion in 2021, and it is expected to reach USD 36. 60 billion by 2027, registering a CAGR of 6. 76% during the forecast period (2022 - 2027).
New York, April 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Infotainment Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06271838/?utm_source=GNW
The impact of the COVID-19 pandemic on the automotive infotainment systems market was inevitable as the market is primarily driven by increasing vehicle sales and production. As there were continuous lockdowns and shutting down of manufacturing units, production and sales of vehicles experienced slow growth in various regions of the world.
Automakers are strongly competing to deploy advanced infotainment systems for their upcoming vehicle models during the forecast period. For instance, Mitsubishi Motors Corporation, Nissan Motor Co. Ltd, and Groupe Renault has adopted Google Inc.’s Android OS (operating system) for their next-generation infotainment systems. In addition, demand for IVI (In Vehicle Infotainment) is expected to witness steep rise with changing consumer behavior and demand for seamless connectivity of phones with system.
Increase in luxury vehicle sales, customer preference for in-dash infotainment system are some of the biggest drivers of the market However, the increase in the number of accidents due to driver’s distraction may also hinder the growth of the market.
World’s leading automobile manufacturers are extensively working with technological OEMs, which works in domains such as audio unit, display unit, navigation systems, and comprehensive systems.
The automotive infotainment system is undergoing massive technological transformations. With growing smartphone usage there is an increased in adoption toward ADAS and Autonomous driving technology (self-driving cars). Technologies like the Automotive systems the vehicles, especially for passenger seating, have become excessively familiar. As engineers are developing innovative versions of the in-vehicle infotainment systems, these features will become the and essential contributor in vehicle’s electronic system.
Furthermore, the implementation of navigation and vehicle control units in commercial vehicles helps in reducing the response time during emergencies, thereby eliminating the risk of accidents. Besides this, several automobile manufacturers are also offering low-cost infotainment systems, thereby increasing product affordability. Additionally, the rising adoption of smartphones, along with high internet connectivity, has a significant impact on the market growth on a global level.
Key Market Trends
Growing Advancements in Infotainment Systems
There is a rise in smartphone functions to be built into in-vehicle infotainment systems. In North America and Europe, over 90% of adults have access to the internet through their mobile phones, which is also one of the highest among other regions. As the use of mobile phones has risen, the usage of smartphones for the same purposes in cars has also increased.
Car manufacturers are themselves opting for modular hardware design. This helps them reduce the purchase price of infotainment systems. They are working on technologies to let smartphone functions be built into in-vehicle infotainment systems at a low cost. Manufacturers are working on combining processing power and the competitiveness of their systems. The digital services generate large quantities of data sets for car manufacturers to improve the performance of connected vehicles.
In March 2022, Acura MDX launched its new Type S version which remained attraction among the automotive lovers. Company has put in amazing efforts to design this fleet based on present consumers expectations. The car is equipped with touchpad infotainment system with amazing OLED display.
In 2022, Maruti entered the streak of carrying advancement in automotive infotainment system with introducing its all-new Baleno. Car is equipped with Smart Play Pro+ which is top-of-the-line touchscreen infotainment system with an amazing 9-inch display for passenger. While it has all the bells and whistles of the Smart Play Pro company has added several navigation, car play, advancements made upon the constructive feedbacks from auto lovers.
Inception of Artificial Intelligence and cloud services are expected to drive technological advancements in automotive infotainment systems. Most of the companies are using the existing Google and Apple ecosystems for their infotainment system. Although players are also opting for in-house development of their own infotainment system OS (operating system).
China is Driving the Asia-Pacific Market
Among Asia-Pacific countries, China occupied a significant share of the Asia-Pacific automotive industry due to its highest vehicle sales over the past decade. The country is anticipated to continue to see positive vehicle sales during the forecast period, owing to the growing focus on new energy vehicles (NEV) among automakers.
The shift from simple audio systems to touchscreen infotainment systems that support multiple features, such as navigation, Apple CarPlay, Android Auto, and telematics, are driving the demand for infotainment systems in the country.
China is one of the largest automotive markets across the world, and more than 20.17 million passenger cars were sold in the country in 2020 and recorded a 5.89% of the yearly decline in sales compared to 2019. Despite the economic conflicts with the United States and Covid-19 pandemic, China is still one of the largest sellers of automobiles, which is a great opportunity for infotainment system to make its place in the Chinese automobile market. Moreover, in 2020, China has exported more than 35 million units of passenger car infotainment system including entertainment display, center consoles, head’s up display (HUD), clusters and few more electronics components.
In July 2021, World artificial intelligence conference, China automobile market is leading in the development of smart cockpits with more than 82,300 patents application related to intelligent cockpits followed by Japan and United Stated 31,900 and 19,300 respectively. Intelligent cockpits is becoming a critical technology in modern driving experience, voice recognition, multiple drive functions navigation system are some of the prime technologies integrated in intelligent vehicle cockpits.
Competitive Landscape
The automotive infotainment systems market is dominated by major players such as Robert Bosch, Alpine Electronics, Panasonic Corporation, HARMAN International, and Mitsubishi Electric Corporation. These companies have strong distribution networks at a global level and offer an extensive product range. These companies adopt strategies such as new product developments, collaborations, and contracts and agreements to sustain their market positions.
Some other major players in the automotive infotainment systems market include Denso Corporation, Visteon Corporation, Kenwood Corporation, Magnetic Marelli SpA, Pioneer Corporation, etc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06271838/?utm_source=GNW
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