The In-Vehicle Infotainment Market Is Set To Reach 32.8 Billion By 2027, With Increasing Demand For Autonomous Vehicles - By The Business Research Company

News provided by

Sep 29, 2023, 10:31 ET

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON , Sept. 29, 2023 /PRNewswire/ -- As per The Business Research Company's In-Vehicle Infotainment Global Market Report 2023, the global in-vehicle infotainment market is gearing up for substantial growth, with a projected increase from $19.88 billion in 2022 to a staggering $22.09 billion in 2023, representing an impressive Compound Annual Growth Rate (CAGR) of 11.1%. This upward trajectory is set to continue, with expectations of reaching $32.85 billion in 2027 at a CAGR of 10.4%. The in-vehicle infotainment market's robust expansion is propelled by the surging demand for autonomous and electric vehicles, marking a monumental shift in the automotive industry landscape.

Autonomous and Electric Vehicles Fueling Growth

The increasing demand for autonomous and electric vehicles is a pivotal driver for the in-vehicle infotainment market. Autonomous vehicles, known for their self-driving capabilities, are gaining traction as they operate with minimal human intervention. Recent data from a July 2022 Mercom report revealed a remarkable 333% year-over-year (YoY) growth in electric vehicle (EV) sales, reaching 390,399 units in the first half of 2022 compared to 90,102 units in the same period in 2021.

Learn More On The In-Vehicle Infotainment Market Report – https://www.thebusinessresearchcompany.com/report/in-vehicle-infotainment-global-market-report

Highly Concentrated Market

The global in-vehicle infotainment market is characterized by a high level of concentration, with the top ten competitors commanding a substantial 64.07% share in 2022. Samsung Electronics Co., Ltd leads the pack with a 12.35% market share, followed by Panasonic Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Alps Electric Co., Ltd, Aptiv PLC, Pioneer Corporation, Visteon Corporation, Marelli Holdings Co., Ltd., and JVC Kenwood Holdings Inc.

The Rise of AI Technology

One prominent trend gaining momentum within the in-vehicle infotainment market is the integration of Artificial Intelligence (AI) technology. AI technology simulates human intelligence, making data-driven decisions, and employing deep learning to enhance user experiences. This includes analyzing user lifestyle patterns, improving driving safety, and automating vehicle maintenance notifications. Leading industry players are actively developing infotainment systems enriched with AI technology. For example, Hyundai Motor Group introduced the NVIDIA DRIVE™ in-vehicle infotainment system platform, enhancing user experiences through AI-driven recommendations and intelligent multimedia features.

Request A Free Sample Of The In-Vehicle Infotainment Market Report – https://www.thebusinessresearchcompany.com/sample.aspx?id=8986&type=smp

Segmentation and Opportunities

The global in-vehicle infotainment market is segmented as follows:

By Component: Software, Hardware, Services
By Services: Entertainment Services, Navigation Services, E-Call Services, Vehicle Diagnostics Services, Other Services
By Vehicle Type: Passenger Car, Commercial Vehicle
By Fitting: OE Fitted, Aftermarket

The hardware segment is poised to seize the top opportunities within the component segmentation, projecting $10.359 billion in global annual sales by 2027.

Asia Pacific: Leading Region In In-Vehicle Infotainment Market

Asia Pacific stands as the largest region in the in-vehicle infotainment market, boasting a substantial worth of $7.2 billion in 2022.

The Asia-Pacific in-vehicle infotainment market derives strength from growing sales of budget-friendly vehicles, an uptick in disposable income, and increased luxury automobile sales. For example, India witnessed a remarkable surge in high-end vehicle sales, with 21,000 units sold in the first half of 2022, marking a 16% YoY growth compared to 2018.

The global in-vehicle infotainment market is on an exciting trajectory, driven by technological advancements, evolving consumer preferences, and the shifting landscape of the automotive industry. As AI technology continues to revolutionize the driving experience, and as autonomous and electric vehicles become more prevalent, the industry is poised for unprecedented growth in the coming years.

View More Similar Market Reports:

Automotive V2X Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/automotive-v2x-global-market-report

Vehicle To Vehicle Communication Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/v2v-communication-global-market-report

In Vehicle Payment Services Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/in-vehicle-payment-services-global-market-report

Interested to know more about The Business Research Company?

The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

The World's Most Comprehensive Database

The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model