The Global In-Vehicle Infotainment Market is Expected to Witness High Growth due to Rising Demand for Connected Vehicles

 

The in-vehicle infotainment market comprises equipment including screens, audio systems, climate control systems and navigation systems installed in vehicles. A car infotainment system provides numerous functionalities like entertainment via radio or music players, location navigation and connectivity features via Bluetooth or Wi-Fi. Additional capabilities like vehicle diagnostics, traffic updates and rear-seat entertainment systems are also included in modern infotainment units. These in-car entertainment and connectivity solutions serve to enhance the driver and passenger experience. The growing demand for connected vehicles with advanced driver assistance systems is driving the need for in-vehicle infotainment equipment.

The global in-vehicle infotainment market is estimated to be valued at US$ 28.63 billion in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period of 2024 to 2030.

Key Takeaways

Key players operating in the in-vehicle infotainment market include BASF SE, Evonik Industries AG, Clariant International AG, Croda International PLC, DowDuPont Inc., Solvay SA, Arkema S.A., Akzo Nobel N.V., Mitsubishi Chemical Corporation, A. Schulman, Inc. These companies offer complete infotainment solutions as well as individual components like displays, audio units and control modules. BASF SE and Evonik Industries AG dominate the automotive coatings market globally.

The rising demand for enhanced passenger experience features is opening up opportunities for advanced technologies like 5G connectivity, artificial intelligence integration and augmented reality head-up displays in vehicles. Infotainment systems with such capabilities can offer immersive in-cabin experiences.

Major players are eyeing opportunities in Asia Pacific and Latin America for global expansion of their in-vehicle infotainment offerings. The growing middle class populations and vehicle ownership rates in these regions are encouraging international companies to strengthen their local operations and supply chain networks.

Market Drivers

The growing popularity of autonomous and semi-autonomous vehicles is a key driver for the Global In-Vehicle Infotainment Market Trend. Advanced driver assistance systems rely on technologies integrated into the vehicle infotainment infrastructure for operating different automated driving functions. Moreover, entertainment and connectivity features are important for gaining consumer acceptance of autonomous mobility services.

Market Restraints

High product and system integration costs remain a key challenge hampering mass adoption of sophisticated infotainment technologies. Complex software and hardware design requirements push up prices of advanced solutions like augmented reality HUDs. This acts as a restraint for the market especially in price-sensitive developing markets.

Segment Analysis

The in-vehicle infotainment market is dominated by the hardware sub segment. Hardware components such as displays, control panels and sensors account for the largest share as they form the core of any infotainment system. In-vehicle infotainment systems require hardware components as the interface between the vehicle systems and drivers. The growing demand for enhanced digital experiences from vehicles has led to higher complex hardware being installed in modern cars. This drives the hardware sub segment's dominance in the overall in-vehicle infotainment market.

Global Analysis

The Asia Pacific region is projected to be the fastest growing as well as dominant region in the global in-vehicle infotainment market during the forecast period. The Asia Pacific region is witnessing higher vehicle production led by countries such as China and India. At the same time, customers in the region are demanding advanced connectivity and infotainment features in vehicles. This has encouraged OEMs to offer advanced infotainment systems across different vehicle segments. Moreover, lower manufacturing costs and presence of leading automotive component suppliers in the region provide advantages for higher adoption of newer technologies. The growth trajectory of the automotive industry and evolving customer preferences therefore make Asia Pacific an attractive regional market for in-vehicle infotainment systems.

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