Automotive Infotainment Market Growth, Forecast and Trend Analysis, 2014 to 2024
The global automotive infotainment market size was valued at USD 15.93 billion in the 2016 and is expected to register robust growth owing to factors such as a rise in the sales of integrated infotainment services including smartphone connection on demand music.
(firmenpresse) - The global automotive infotainment market is expected to reach USD 40.17 billion by 2024 driven by the rising consumer demand for in-vehicle entertainment. Technological advancement coupled with the rising disposable income of the population contributing to the huge demand for passenger cars and other vehicles is expected to play a vital role in driving market growth.
North America dominated the global market contributing to 35.2% of the revenues generated in 2016. Rapid adoption of these systems by consumers has resulted in the presence of a robust market in the region.
Asia Pacific is expected to show significant growth at a CAGR of 14.7% over the forecast period owing to the rising consumer income, growing urban population and increasing sale of luxury cars. Acknowledging above factors, car manufacturing companies are partnering with audio equipment manufacturing companies to enhance their cars with high-quality infotainment products. For example, Toyota has been using BlackBerry
Blackberrypen source as it allows car manufacturers to tweak the module to provide unique features limited only to a company is expected to augment growth.
North America was the largest market in 2016 owing to the high adoption rate of the technology coupled with consumer preference of an automated car over manual ones. Moreover, the emergence of mobile phones in the last decade coupled with the rising number of accidents caused due to distractions has resulted in a high demand for digitalized and automated infotainment systems.
Options such as mobile connectivity via Bluetooth, wi-fi, USB ports and cloud data & data storage is expected to fuel the automotive infotainment market owing to easy consumer access to daily work. Growing use of navigation system in commercial vehicles to search for more efficient routes and to save time is anticipated to be the key drivers in the rising installation of navigation system which is further expected to fuel the market for automotive infotainment systems.
Hexa Research has segmented the global automotive infotainment market based on vehicle, OS, and region:
Segmentation by vehicle, 2014 - 2024 (USD Million)
Segmentation by OS, 2014 - 2024 (USD Million)
Segmentation by region, 2014 - 2024 (USD Million)
Key players analyzed
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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Datum: 03.07.2018 - 04:45 Uhr
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News-ID 1538032
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Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 03.07.2018
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