PUBLISHER: The Business Research Company | PRODUCT CODE: 1429842
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429842
In-vehicle infotainment refers to an electronic system that integrates entertainment and information delivery for drivers and passengers, often including support software applications.
The main components of in-vehicle infotainment systems are software, hardware, and services. Software, in this context, refers to a computer operating system that facilitates the control of data flow between application programs. These systems are employed to offer a range of services, including entertainment, navigation, communication, vehicle diagnostics, and others, catering to both passenger cars and commercial vehicles. These components may be integrated as original equipment manufacturer (OEM) fittings or added through aftermarket installations.
The in-vehicle infotainment market research report is one of a series of new reports from The Business Research Company that provides in-vehicle infotainment market statistics, including in-vehicle infotainment industry global market size, regional shares, competitors with an in-vehicle infotainment market share, detailed in-vehicle infotainment market segments, market trends and opportunities, and any further data you may need to thrive in the in-vehicle infotainment industry. This in-vehicle infotainment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The in-vehicle infotainment market size has grown rapidly in recent years. It will grow from $21.72 billion in 2023 to $24.22 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The expansion observed in the historical period can be attributed to increasing sales of high-end luxury cars, growth in emerging markets, rising demand for passenger cars, and the high adoption of connected cars.
The in-vehicle infotainment market size is expected to see rapid growth in the next few years. It will grow to $37.02 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The anticipated growth in the forecast period can be attributed to government support for the automotive sector, increasing demand for autonomous and electric vehicles, and growing urbanization. Key trends expected in this period include technological advancements in automotive infotainment systems, the implementation of over-the-air updates for infotainment systems, strategic partnerships and collaborations among market players to improve product portfolios, the integration of the Android operating system in infotainment units, product innovations in automotive connectivity, the integration of artificial intelligence (AI) technology in infotainment systems, and the development of personalized in-vehicle infotainment systems.
The anticipated growth in the sales of high-end luxury cars is poised to drive the expansion of the in-vehicle infotainment market in the future. Luxury cars, crafted by prestigious automakers, boast high-performance capabilities, opulent interiors, and cutting-edge safety and technology features not found in more affordable vehicles. These luxury vehicles are equipped with the latest and advanced infotainment systems, contributing to advanced vehicle safety and security. Notably, in 2021, BMW Group reported a global sales increase of 8.4% for luxury vehicles under the BMW, MINI, and Rolls-Royce brands, with a total of 2,521,525 units delivered globally. The BMW brand itself achieved an unprecedented global sales high of 2,213,795 units in the same year. Therefore, the surge in high-end luxury car sales is a significant driver behind the in-vehicle infotainment market's growth.
Increasing government support is anticipated to be a driving force for the in-vehicle infotainment market in the coming years. Governments worldwide are actively endorsing the automotive sector to develop innovative solutions that enhance the industry. A notable example is the Canadian government's initiative in March 2022, where it invested $131.6 million in Honda Canada. This investment aims to support the retooling of Honda's manufacturing operations in Alliston, Ontario, for the upcoming generation of hybrid-electric vehicles. The Province of Ontario is set to match this investment. Consequently, the growing government support for the automotive industry is expected to propel the in-vehicle infotainment market.
Technological advancements represent a prominent trend gaining traction in the in-vehicle infotainment market. Major companies operating in this sector are focused on creating innovative technological solutions to fortify their market position. For instance, in August 2022, Mitsubishi Electric Corporation, based in Japan, introduced the 'Inca Jay Digital Cockpit,' a futuristic infotainment system. Notable features of this cockpit include a real-time voice translator, image processing capabilities, and advanced driver assistance systems (ADAS). The system monitors the driver's face using near-infrared and driver-facing cameras to detect any issues with the driver, and it includes an evolved ADAS for enhanced emergency and safety functions.
Leading companies in the in-vehicle infotainment sector are directing efforts toward the development and launch of technologically advanced products to strengthen their market presence. For instance, in February 2022, Harman International, a US-based audio electronics company, introduced HARMAN Savari MECWAVE, an industry-first multi-access edge computing (MEC) software platform. This platform enables automakers and mobile network operators to deliver ultra-low latency applications and services on edge computing infrastructure. MECWAVE, operating on the edge with ultra-low latency, expedites the deployment of vehicle-to-everything (V2X) communications, including safety-critical applications such as hazard alerts, along with high-throughput connectivity experiences such as interactive infotainment and video streaming.
In February 2021, HARMAN International made a strategic move by acquiring Apostera, a Germany-based automotive technology company specializing in infotainment, navigation, and dashboard systems. Through this acquisition, Harman aimed to accelerate and expand its capabilities and product portfolio in the development of the augmented reality/mixed reality (AR/MR) automotive space.
Major companies operating in the in-vehicle infotainment market report are Samsung Electronics Co. Ltd., Panasonic Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Alps Electric Co, Ltd.,MED-EL Medical Electronics, Livanova PLC, Biotronik Se & Co., Kg, MicroPort Scientific Corporation, Envoy Medical Corporation, Pregna International, Johari Digital Healthcare Limited, Renalyx Health Systems, Medprime Technologies, Comofi Medtech, Dynamed Equipments, Aurolab, Unicorn Denmart Limited, Lepu Medical Technology Company, Calon Cardio, Better Medical Technology, Beijing Aeonmed Co., Ltd., BONSS MEDICAL, Koninklijke Philips N.V., Berlin Heals Holding AG, CorWave SA, Philips Healthcare, Draegerwerk AG, Getinge Group, Ceryx Medical, MEDICO s.r.l., Medical-Lomza Sp. z o.o., Panop CZ, Medplant LLC, P.H.U. Medical, ProVeterinare, Johnson & Johnson, Baxter, Stryker, Axio Biosolutions, Cirtec Medical, Masimo, Teleflex Inc., NAGL MedTech, B Braun Argentina, Braile Biomedica Ltd., Megadyne Argentina, Embramed Industria e Comercio de Produtos Hospitalares Ltd., Arabian Medical Enterprises LLC, Zahrawi Group, Al Burak Medical Services, Lodox Systems, Glenmed Healthcare Solutions (PTY) Ltd., Lepeke Medical Group, LTE Medical Solutions
North America was the largest region in the in-vehicle infotainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in-vehicle infotainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the in-vehicle infotainment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The in-vehicle infotainment market consists of revenues earned by entities by provide audio, video and information services in automobiles. The market value includes the value of related goods sold by the service provider or included within the service offering. The in-vehicle infotainment market also includes sales of radio, multimedia, navigation and connectivity devices which used in providing In-vehicle infotainment services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
In-Vehicle Infotainment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on in-vehicle infotainment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for in-vehicle infotainment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The in-vehicle infotainment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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