by In-vehicle infotainment systems provide entertainment and information to drivers and passengers in connected cars. These systems allow integration of smartphones and other devices to access various multimedia and navigation features via built-in touchscreens or panels. The increasing adoption of advanced driver-assistance systems and autonomous driving functions boost demand for high-tech automotive displays.
The global In-Vehicle Infotainment Market is estimated to be valued at US$ 33.5 billion in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing connectivity in vehicles has been a major propelling factor for the in-vehicle infotainment market. Modern cars have evolved into moving devices that are connected both internally through infotainment systems as well as externally through various wireless networks. Advanced vehicles now feature internet connectivity, HD touchscreens, navigation with real-time traffic updates, voice controls, and compatibility with apps and media streaming services. This has significantly enhanced the in-car experience for drivers and passengers. The rising demand for connected vehicles with seamless connectivity is driving automakers to develop advanced infotainment solutions, thereby fueling growth of the global in-vehicle infotainment market during the forecast period.
SWOT Analysis
Strength: In-vehicle infotainment provides an enhanced driving experience with features like navigation, music streaming and connected services. It offers improved safety, productivity and convenience for drivers and passengers.
Weakness: The high installation and maintenance costs of advanced infotainment systems can be prohibitive for some customers. Compatibility issues may also arise between the system and smartphones.
Opportunity: Growing consumer demand for connectivity and personalization in vehicles is driving the integration of more advanced technologies in infotainment. There is potential to offer new location-based services and integrated applications.
Threats: Cybersecurity vulnerabilities could undermine trust in connected vehicle technologies. Stringent regulations and technology upgrades may necessitate frequent system revisions, increasing costs for automakers.
Key Takeaways
Global In-Vehicle Infotainment Market Size is expected to witness high growth over the forecast period.
North America currently dominates the market due to early adoption of advanced vehicle technologies. Europe is another major regional market boosted by automakers’ focus on connectivity and consumer demand for infotainment services. Asia Pacific is poised to showcase strong growth fueled by rising vehicle production and sales, particularly in China and India.
Key players operating in the in-vehicle infotainment market are Alpine Electronics, Continental AG, HARMAN International, Panasonic Corporation, Visteon Corporation, DENSO CORPORATION, Pioneer Corporation, Clarion Co., Ltd., and Aptiv PLC.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
