The global in-car infotainment market size is estimated to be USD 37,628.2 million by the end of 2025, as per a new report released by Million Insights. The market is predicted to expand at over 12.0% CAGR over the forecast duration. Growing adoption of smartphones is a major factor attributing to the growth of the market.
Consumers across the world are emphasizing on enhanced experience while driving or commuting, which, in turn, has bolstered the demand for in-car infotainment systems. Rising focus on driver convenience has resulted in manufacturers developing innovative solutions to cater to the demand. Car infotainment offers various features such as navigation information, Bluetooth connectivity, voice control and update on real-time traffic.
However, the high cost involved in the integration of these technologies in the automobile is estimated to hinder the market growth. This is why the majority of infotainment systems are limited to luxury and premium vehicles. Besides, privacy and security concern related in deploying the infotainment system is estimated to further slow the market growth.
The in-car infotainment system market is mostly driven by the rising demand from commercial vehicles. The deployment of infotainment systems in commercial vehicles helps in improving efficiency and minimizing response time. Since commercial vehicles travel longer, infotainment system further helps in enhancing drivers’ experience.
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Further key findings from the report suggest:
• The communication unit is estimated to register a CAGR of over 13% and expected to emerge as the fastest-growing segment.
• OE fitted segment is anticipated to register the highest growth rate over the forecast duration.
• Passenger car segment is likely to expand at a CAGR of over 12% from 2019 to 2025 owing to the growing demand for drivers’ security.
• Asia Pacific is growing at a CAGR of more than 14.5% over the forecast duration.
• Key market players are Harman International, Panasonic Corporation, Delphi Automotive, Visteon Corporation, Clarion Corporation, Alpine Electronics and others.
Million Insights has segmented the global in-car infotainment system market on the basis of product, installation, application, and region:
In-car Infotainment System Product Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
• Audio Unit
• Display Unit
• Head-up Display
• Navigation Unit
• Communication Unit
In-car Infotainment System Installation Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
• OE Fitted
In-car Infotainment System Application Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
• Passenger Vehicles
• Commercial Vehicles
In-car Infotainment System Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South America