The global Electric Vehicle Infotainment Market has acquired a market size of around USD 5.7 billion in 2020 and expected to reach a healthy CAGR of over 65.6% during the forecast period from 2021 to 2027 to reach around USD 117.55 billion in 2027.
The rising demand for rear-seat entertainment is expected to be a major factor in the market’s expansion. Over the upcoming years, demand for GPS navigation-enabled infotainment systems will rise at an exponential rate because it allows for route routing, traffic tracking, and location detection features, all of which improve the usability of the device for drivers.
Key Trends in Global Market
Rising Advancement in Infotainment Systems
Automobile manufacturers are going for modular hardware design as well. This allows them to lower the cost of purchasing infotainment systems. They are developing technologies that will enable smartphone functions to be easily integrated into in-vehicle infotainment systems at a low cost. Manufacturers are attempting to combine processing capacity with machine competitiveness. Large quantities of data are produced by digital services. For car makers to boost the efficiency of connected cars, digital networks produce vast amounts of data sets.
Smartphone Connectivity is Propelling the Market Growth
With the rising demand for safe, smart and lavish vehicles, automobile companies are developing vehicle with highly advanced infotainment system technology. Now, smartphones are paired with car infotainment by using Bluetooth connectivity or WiFi hotspot. The feature permit user to handle incoming, outgoing and conference calls by the infotainment. With this option, there is high growth in purchasing a high-end model of the car with advance infotainment system like touchscreen.
Global Market by System Type Insights
Heads-Up System, Multimedia System, Navigation System, Driver Safety and Communication System, and Rear Seat Entertainment System are some of the System Type of this market. Over the forecast period, the segment of heads-up display systems is expected to grow at the fastest rate. However, by the end of 2025, revenue in the multimedia infotainment device market is expected to decline dramatically.
Global Market by Regional Insights
In 2020, Asia Pacific led the global market with a large revenue share. The growth of the regional market is fueled by factors such as the emergence and acceptance of new technologies, improving economic conditions, the availability of low-cost labor, the presence of key players and improved manufacturing facilities.
In the upcoming years, Latin America is anticipated to rise the fastest. Because of increasing adoption of emerging technologies such as 4G and 5G networking services and lower data rates, the demand for electric vehicle infotainment in Latin America is expected to grow significantly in the coming years. In Brazil, the cellular networking infotainment device segment accounted for high revenue.
Global Market Competitive Landscape
Most prominent players in the global market include Continental AG, Audi AG, Panasonic corporations, Aisin Seiki Co., Ltd., General Motors Corp, Clarion Corporation of America, Harman International Industries Inc., JVC KENWOOD, and Garmin Ltd. The report covers very detailed profiles of these key players.
Global Electric Vehicle Infotainment Market, Company Distribution Network, 2020
Global Electric Vehicle Infotainment Market by System Type, 2015 – 2027
· Multimedia System
· Heads-Up System
· Navigation System
· Driver Safety and Communication System
· Rear Seat Entertainment System
Global Electric Vehicle Infotainment Market by Connectivity Type, 2015 – 2027
· Wired Connectivity
Global Electric Vehicle Infotainment Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Electric Vehicle Infotainment Market: Key Players
· Alpine Electronics, Inc.
· Continental AG
· DENSO Corporation
· Delphi Automotive Plc
· Harman International Industries Inc.
· Panasonic Corporation
· Pioneer Corporation
· Airbiquity Inc.
· Aisin Seiki Co., Ltd
· Clarion Corporation of America
. JVC Kenwood