Global automotive infotainment market worth $40.17 billion by 2024
According to a report by Hexa Research, the global automotive infotainment market is expected to reach $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, finds the report.
Asia Pacific is expected to show significant growth at a CAGR of 14.7% over the forecast period because of the rising consumer income, growing urban population, and increasing sale of luxury cars. Acknowledging the 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's QNX in its cars for the past four years.
Key players analyzed in the report were Harman International, Denso Corporation, JVC Kenwood Corporation, Delphi Automotive PLC, NXP Semiconductors, Alpine Electronics Inc., Pioneer Corporation, TomTom International, Blaupunkt GmbH, and Nuance Communications.
Blackberry's QNX has been the most widely used OS, with its ability to automate the car by providing hands-free calling, mapping, and internet service. However, Linux is expected to take over the leading position and grow at the fastest CAGR of 32.9% over the forecast period. Preference of open 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 due to the high adoption rate of the technology coupled with consumer preference of an automated car over manual systems. Moreover, the emergence of mobile phones in the last decade coupled with the rising number of accidents caused from 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 and data storage are expected to fuel the automotive infotainment market with their 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 a key driver in the rising installation of navigation systems, and is further expected to fuel the market for automotive infotainment systems.
To view a summary or to request a sample of the research report, "Automotive Infotainment Market Size and Forecast, By Vehicle (Passenger Cars, Commercial Vehicle), By Operating System (Linux, QNX, Microsoft) And Trend Analysis, 2014 – 2024," visit https://www.hexaresearch.com/research-report/automotive-infotainment-market.