May 13, 2020
As per the report titled ‘Global In-vehicle Infotainment Market Size study, by Service (Entertainment Services, Navigation Services, E-Call, Vehicle Diagnostics, Others), By form (Embedded, Tethered, Integrated), By vehicle type (Passenger Car, LCV, HCV), By component (Display Unit/ Infotainment Unit, Control Panel, Telematics Control Unit, Head-Up Display), By location ( Front Row, Rear Row), By connectivity (3G, 4G, 5G), By operating system (Linux, QNX, Microsoft, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global in-vehicle infotainment market was worth USD 22.1 billion in 2018 and is projected to record 10.70% CAGR through 2026.
Increasing sales and production of automobiles along with growing consumer preference for advanced and feature-rich infotainment systems are driving the growth of global in-vehicle infotainment market. In-vehicle infotainment is embedded with internet, GPS, and sensors that provide the user with information, entertainment, communication, navigation services and many more. Moreover, these systems offer Wi-Fi connectivity, Bluetooth, live media streaming, voice recognition & communication, and smart technologies for mobile integrated experience, thereby encouraging the sales of vehicles equipped with these systems.
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Citing an instance, in 2017, Australia’s National Transport Commission (NTC) mandated the Heavy Vehicle National Law along with Intelligent Access Program and Electric Work Diary (EWD) to promote the use of telematics in trucks, buses, and commercial vehicles. Likewise, as per the initiative by Ministry of Road Transport and Highways of India, all transport vehicles were to be mandatorily equipped with GPS devices by April 2018. Hence, implementation of various regulations and policies promoting vehicle telematics and E-call services to ensure road safety is boosting the installations of infotainment systems in vehicles. However, high cost of infotainment systems may hinder the market growth during the forecast period.
As per the regional analysis, North America currently accounts for significant share of global in-vehicle infotainment market owing to presence of several industry players in the region. Whereas, Asia-Pacific in-vehicle infotainment market is predicted to grow rapidly in the coming years on account of factors such as rising disposable income, growing demand for luxury cars, and various government regulations for ensuring road safety and security.
Prominent players in global in-vehicle infotainment market are Garmin, Ltd., Alpine Electronics, Inc., Pioneer Corporation, Panasonic Corporation, HARMAN International, Robert Bosch GmbH, Clarion Co., Ltd., Mitsubishi Electric Corporation, Continental AG, and TomTom International.