Global In-Vehicle Infotainment Market to Grow with a CAGR of 6.7% through 2028
The Global In-Vehicle
Infotainment (Printed Circuit Board) Market is primarily driven by the
increasing adoption of electric and autonomous vehicles, which rely heavily on
advanced PCBs to support complex electronics and sensor systems. Additionally,
the rising demand for in-car connectivity, infotainment systems, and advanced
driver-assistance features is fuelling the need for more sophisticated PCBs in
modern vehicles, contributing to market growth
According to
TechSci Research report, “Global In-Vehicle Infotainment Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global In-Vehicle Infotainment Market stood at USD 23 Billion in
2022 and is anticipated to grow with a CAGR of 6.7% in the forecast period,
2024-2028. The global in-vehicle infotainment market is
being driven by several key factors. One of the primary drivers is the
increasing consumer demand for convenience and comfort. As consumers become
more connected in their daily lives, they now expect seamless connectivity in
their vehicles as well. This has led to the integration of advanced
technologies like artificial intelligence (AI) and the Internet of Things (IoT)
in vehicles, enabling a wide range of smart features and functionalities.
Moreover, the
proliferation of smartphones has played a significant role in the growth of
in-vehicle infotainment systems. With smartphones becoming an integral part of
people's lives, the demand for seamless integration between mobile devices and
vehicle infotainment systems has surged. This has resulted in an increased
usage of infotainment systems for various purposes, including navigation,
entertainment, and communication.
Additionally,
collaborations between car manufacturers and technology companies have also
contributed to the expansion of the in-vehicle infotainment market. These
partnerships have led to the development of innovative solutions that cater to
the evolving needs of consumers. By combining the expertise of automotive
manufacturers with the technological advancements of tech companies, the market
is witnessing the introduction of cutting-edge infotainment systems that
provide an enhanced driving experience.
Furthermore,
governmental regulations promoting safety features in vehicles have further
fueled the demand for in-vehicle infotainment systems. With a growing emphasis
on road safety, governments around the world have implemented regulations that
encourage the inclusion of advanced technologies in vehicles. This includes
features such as hands-free calling, voice control, and driver assistance
systems, all of which are integrated into modern infotainment systems.
In conclusion,
the global in-vehicle infotainment market is experiencing significant growth
due to the increasing consumer demand for convenience, the integration of
advanced technologies, the proliferation of smartphones, collaborations between
car manufacturers and tech companies, and governmental regulations promoting
safety features. These factors collectively contribute to the rising popularity
and adoption of in-vehicle infotainment systems in the automotive industry.
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"In-Vehicle Infotainment Market.”
In-vehicle
infotainment (IVI) systems have emerged as a crucial component of the
automotive industry, revolutionizing the driving experience for both drivers
and passengers. These systems have evolved from basic audio and navigation
units to sophisticated multimedia centers that integrate entertainment,
connectivity, and information services. The global IVI market has witnessed
substantial growth in recent years, driven by technological advancements,
changing consumer preferences, and the increasing integration of connectivity
solutions within vehicles.
The global IVI
market has experienced steady growth, with a significant expansion in its
market size. Factors contributing to this growth include the rising demand for
connected vehicles, the proliferation of smartphones, and the increasing
consumer desire for enhanced in-car entertainment and connectivity. According
to various industry reports, the IVI market is expected to continue its growth
trajectory in the coming years, driven by the adoption of advanced technologies
and the development of electric and autonomous vehicles.
Technological
innovation is a hallmark of the IVI market. IVI systems have evolved to
incorporate advanced features such as 4G and 5G connectivity, Wi-Fi hotspots,
Bluetooth integration, and sophisticated touchscreens. Voice recognition
technology, coupled with natural language processing (NLP), has made
interactions with IVI systems more intuitive and user-friendly. Augmented
reality (AR) navigation and advanced driver assistance systems (ADAS)
integration are transforming IVI systems into multifunctional hubs that enhance
safety and convenience.
Consumers'
increasing reliance on smartphones and the demand for constant connectivity
have propelled the growth of IVI systems. These systems enable passengers to
access the internet, stream content, make hands-free calls, and use a wide
range of apps and services while on the road. The integration of virtual
assistants like Amazon's Alexa and Google Assistant has further improved the
connectivity and functionality of IVI systems, aligning them with consumers'
digital lifestyles.
In response to
consumer preferences for personalized experiences, IVI systems are
incorporating artificial intelligence (AI) and machine learning algorithms to
analyze user behavior and preferences. This allows for tailored content
recommendations, customized music playlists, and personalized navigation
routes, enhancing the overall user experience. The focus on personalization not
only makes driving more enjoyable but also fosters brand loyalty among
consumers.
The growing
popularity of electric vehicles (EVs) and the development of autonomous
vehicles (AVs) have a significant impact on the IVI market. EVs often come
equipped with advanced IVI systems that provide information about battery
status, energy consumption, and charging locations. IVI systems in AVs play a
crucial role in providing entertainment and information to passengers who are
no longer engaged in driving tasks. As EV and AV adoption continues to rise, IVI
systems are expected to evolve to meet the unique needs of these vehicles.
While the IVI
market offers substantial opportunities for growth and innovation, it also
faces challenges. These challenges include ensuring data security and privacy
in connected vehicles, complying with evolving regulations related to
distracted driving, and addressing the complexity of integrating multiple
technologies within the vehicle. Moreover, competition within the IVI ecosystem
and cost constraints are factors that market players must navigate.
In conclusion,
the global in-vehicle infotainment market is in a state of dynamic expansion,
driven by technological advancements, consumer demand for connectivity and
personalization, and the changing landscape of electric and autonomous
vehicles. As IVI systems continue to evolve, they are poised to play a central
role in enhancing the driving experience and shaping the future of the
automotive industry.
Major companies
operating in Global In-Vehicle Infotainment Market are:
- Denso Corporation
- Robert Bosch GmbH
- Continental AG
- Harman International Industries Inc.
- Magnetic Marelli SpA
- Kenwood Corporation
- Alpine Electronics Inc.
- Mitsubishi Electric Corporation
- Visteon Corporation
- Pioneer Corporation
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“The
major drivers propelling the global in-vehicle infotainment market include the
increasing consumer demand for convenience and comfort. Consumers now expect
seamless connectivity, leading to the integration of advanced technologies like
AI and IoT in vehicles. Furthermore, the proliferation of smartphones has led
to significant growth in the usage of infotainment systems. Different
collaborations between car manufacturers and tech companies also boost this
market. Lastly, governmental regulations promoting safety features in vehicles
enhance the demand for such systems.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Global
In-Vehicle Infotainment Market By Installation Type (In-dash Infotainment and
Rear Seat Infotainment), By Vehicle Type (Passenger Cars and Commercial
Vehicles), By Regional, By Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth
potential of Global In-Vehicle Infotainment Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global In-Vehicle Infotainment Market.
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