LONDON, October 13, 2021 (GLOBE NEWSWIRE) – Asia-Pacific has a dominant share for automotive infotainment market; Europe has the second largest market share; and North America registering a considerable CAGR for the analysis period from 2021 to 2028.
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On the basis of regional analysis, the automotive infotainment market is developing at a rapid pace owing to the consumers’ attractiveness to purchase passenger cars with the technological gradation. In addition, the increase in disposable income in the APAC population increases the purchasing power of premium vehicles with advanced infotainment systems among the masses. In addition, the huge increase in luxury car sales among Asia-Pacific countries, especially China and India, will propel the growth of automotive infotainment in the Asia-Pacific regional market.
On the other hand, the regional market of North America is constantly witnessing the launch of innovative products in the automotive sector. Amazing performance in infotainment especially for voice recognition and driver assistance systems among the population aimed at the growth of the automotive infotainment market in this region. In addition, the notable development of HD in notch displays among consumers located in this region is the impact factor for the ultimate growth of the market.
Cover of the report
|Marlet||Automotive infotainment market|
|Analysis period||2017 – 2028|
|Year of reference||2020|
|Forecast data||2021 – 2028|
|Covered segments||By type of product, by type of adjustment, by type of vehicle,
and by geography
|Regional scope||North America, Europe, Asia-Pacific, Latin America,
and Middle East and Africa
|Key companies profiled||Alpine Electronics, Inc., Clarion Co., Ltd.,
Continental AG, Aptiv plc, Denso Corporation,
Harman International Industries, JVC Kenwood
Corporation, SK Telecom Co, Panasonic
Corporation, Pioneer Corporation, Visteon
Company, and among others
|Cover of the report||Market trends, drivers, constraints, competitive
Analysis, player profiling, regulatory analysis
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COVID-19 and the automotive infotainment market
COVID-19 had a downward impact on the auto industry, as auto demand slumped in second quarter results. Much of this is due to the disruption of Chinese parts exports, large-scale manufacturing disruptions around the world, and the closure of assembly plants. This has put intense pressure on the auto industry in the face of declining global demand resulting from increased merger and acquisition activity. The merger and acquisition has significantly accelerated the growth of the automotive sector, a profound technological innovation for the sustainability of a long-term competitive advantage for companies. In the aftermath of COVID-19, automotive organizations will need to react and take advantage of changing consumer trends to gain a competitive advantage. The manufacturers intend to lead the way in offering a digital experience to the consumer by launching innovative business models such as infotainment or telematics that are well placed together to manage such a pandemic storm. It also offers valuable lessons and record examples of agile innovation. For example, with connectivity beyond 5G and access to vehicle data, it’s all about design as display technology evolves from LCD to flexible OLED and microLED.
Automakers plan to offer advanced ADAS functionality, powered by sensors and computer vision. For example, some OEMs provide camera systems with additional radar systems and radar sensors. For example, the digital cockpit has grown in importance and strongly supports the design of the automotive infotainment market. Additionally, the release of an AI-powered ADAS system has continuously improved infotainment features of the past to improve consumer preferences.
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The global automotive infotainment market is segmented on the basis of product type, fit type, and vehicle type. By product type, the market is segmented into audio unit, display unit, head-up display, navigation unit, and communication unit. By fit type, the market is divided into OEM and aftermarket equipment. Depending on the type of vehicle, the market is divided into passenger cars and commercial vehicles.
Depending on the type of product, the communication unit records the attributable share for the world market. Moreover, for the fit type, the OEM equipment segment records a dominant share for the projected period of 2021 to 2028. Further, based on the segment of vehicle types, passenger cars will dominate the overall market growth. .
The main players involved in the automotive infotainment market are Alpine Electronics, Inc., Clarion Co., Ltd., Continental AG, Aptiv plc, Denso Corporation, Harman International Industries, JVCKenwood Corporation, Panasonic Corporation, SK Telecom Co, Pioneer Corporation, Visteon Corporation, and among others.
Some of the major observations regarding the automotive infotainment industry include:
- In May 2020, Continental AG announced a strategic partnership with Pioneer Corporation. The partnership agreement identifies an integrated infotainment solution for both partners, creating a holistic user experience specifically for the Asian market. In addition, the partnership between the two companies can appear in the field of centralized cockpit systems with the integration of the entire field of infotainment in a holistic system.
- In January 2020, SK Telecom Co. announced the signing of a partnership with Chinese electric vehicle (EV) maker Byton to develop an in-car infotainment (IVI) system. The company’s deal focuses on the in-car infotainment IVI system the company is currently showing at the Consumer Electronic Show (CES). The company plans to apply 5G technologies in the coming years so that passengers can have a better experience in the car.
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