Global Automotive Infotainment Market was valued at US$ 27.4 Billion in 2022 and is expected to surpass US$ 48.7 Billion by 2030, registering a CAGR of 7.6% during the forecast period (2022-2030), according to the Global Automotive Infotainment Market Report, By System (Entertainment System (Audio System & Video System), Connectivity System (Hands Free Call, USB Bluetooth,& Wi-Fi Router) and Driver Assistance(Traffic Message Channel (TMC), Adaptive Cruise Control (ACC) &GPS Navigation System (GPS))), By Vehicle Type (Passenger Car (Compact & Mid-size, Premium, Luxury), Light Commercial Vehicle and Heavy Commercial Vehicle (Buses, Trailers, Trucks) ), By Sales Channel (OEM and Aftermarket)
Global Automotive Infotainment Market: Drivers
Growth of Electric and Autonomous Vehicles
The increasing adoption of electric vehicles (EVs) and autonomous vehicles (AVs) has spurred the demand for advanced infotainment systems. EVs often rely on infotainment systems to provide real-time battery information, charging station locations, and energy efficiency data. AVs, on the other hand, require robust infotainment systems to deliver entertainment and productivity options for passengers.
In 2023 NVIDIA and Hon Hai Technology Group (Foxconn), the world’s largest technology manufacturer, today announced a strategic partnership to develop automated and autonomous vehicle platforms. As part of the agreement, Foxconn will be a tier-one manufacturer, producing electronic control units (ECUs) based on NVIDIA DRIVE Orin™ for the global automotive infotainment market. Foxconn manufactured electric vehicles (EVs) will feature DRIVE Orin ECUs and DRIVE Hyperion sensors for highly automated driving capabilities.
Global Automotive Infotainment Market: Opportunities
Integration with Voice Assistants and Natural Language Processing
The integration of voice assistants, such as Amazon Alexa or Google Assistant, and natural language processing capabilities allows for seamless voice control of infotainment functions. This offers convenience, hands-free operation, and improved user interaction, presenting opportunities for further integration and advancement.
In October 2022, Toyota and Google Cloud Services have announced that they have expanded their partnership and will be bringing next-generation audio multimedia systems and Google Cloud’s AI-based speech services for cars under the Toyota and Lexus brand. The AI-based voice assistant is said to work even without a working internet connection.
Global Automotive Infotainment Market: Restraints
Consumer Privacy and Data Security
Consumer privacy and data security are paramount concerns in the automotive infotainment sector. With the increasing connectivity and digitalization of vehicles, there is a growing need to safeguard personal information and ensure the security of data exchanged within the infotainment systems. Manufacturers and service providers are taking proactive measures to address these concerns.
Market Trends
Focus on User Interface (UI) and User Experience (UX)
Automotive infotainment systems are placing increased emphasis on intuitive user interfaces and improved user experiences. Touchscreen displays, voice recognition, gesture control, and augmented reality (AR) interfaces are being incorporated to enhance ease of use, accessibility, and overall satisfaction for drivers and passengers.
Global Automotive Infotainment Market- Impact of Coronavirus (Covid-19) Pandemic
The market experienced the repercussions of COVID-19 as production and assembly plants were temporarily shut down and parts supply reduced. However, there has been a significant rebound in demand post-pandemic, driven by accelerated vehicle production to address backlogs and recover from losses incurred during the pandemic. Nevertheless, the market witnessed a slowdown in the deployment of infotainment systems due to a shortage of semiconductor supply, leading to disruptions in the supply chain. As a result, raw material prices increased, and the adoption rate of infotainment systems in next-generation vehicles slowed down.
Global Automotive Infotainment Market: Competitive Landscape
Global Automotive Infotainment market is highly competitive, owing to rising launch of new technologies due to ongoing R&D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the Global Automotive Infotainment market are Continental AG, Garmin Ltd., DENSO Corporation, Delphi Automotive LLP, Fujitsu Ten Limited, HARMAN International, Clarion, Pioneer Corporation, Panasonic Corporation, Visteon Corporation, Pacific Industrial Co., Ltd., Robert Bosch GmbH.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/automotive-infotainment-market-3302
Key Takeaways:
Global Automotive Infotainment market was valued at US$ 27.4 Billion in 2022 and is forecast to reach a value of US$ 48.7 Billion by 2030 exhibiting CAGR of 7.6% between 2023 and 2030
Automotive Infotainment Market: Recent Developments
November June 2023 Samsung Electronics, a world leader in advanced semiconductor technology, today announced that its latest automotive processor, the Exynos Auto V920, has been selected to power Hyundai Motor Company’s next-generation in-vehicle infotainment (IVI) systems, which are expected to roll out by 2025
In Nov 2022 Tietoevry Create, the global business design and software engineering arm of Tietoevry, has agreed to partner with HaleyTek, a joint venture between Volvo Cars and ECARX, to develop an Android Open Source Project-based infotainment system for current and future Polestar and Volvo car models. The companies will focus on developing the platform software that enables a smooth in-car audio experience.
Jan. 12, 2022 LG Electronics’ (LG) newest premium in-vehicle infotainment (IVI) system will be a central feature in the 2022 Mercedes-Benz EQS EV sedan, the Pillar to Pillar (P2P) display built into the MBUX Hyperscreen that stretches across the entire width of the dashboard.
