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In-Vehicle Infotainment Global Market 2024 To Reach $37.02 Billion By 2028 At Rate Of 11.2%
The Business Research Company's In-Vehicle Infotainment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 17, 2024 /EINPresswire.com/ -- The in-vehicle infotainment market has experienced robust growth in recent years, expanding from $21.72 billion in 2023 to $24.22 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increasing sales of high-end luxury cars, emerging market growth, rising demand for passenger cars, and high adoption of connected cars.
Strong Future Growth Anticipated
The in-vehicle infotainment market is projected to continue its strong growth, reaching $37.02 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to government support for the automotive sector, increasing demand for autonomous and electric vehicles, and growing urbanization.
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Growth Driver Of The In-Vehicle Infotainment Market
The increasing sales of high-end luxury cars are expected to propel the in-vehicle infotainment market growth going forward. Luxury cars refer to cars that are manufactured by luxury automakers with high-end performance capabilities, lavish interiors, and safety and technology features that are not available in lower-priced cars. Luxury cars are equipped with the latest and advanced infotainment systems to provide advanced vehicle safety and security. Thus, an increase in the sale of luxury cars will help in the growth of the market.
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Major Players And Market Trends
Key players in the in-vehicle infotainment market include Samsung Electronics Co. Ltd., Panasonic Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Alps Electric Co, Ltd., MED-EL Medical Electronics, Livanova PLC, BIoTronik Se & Co., Kg, MicroPort Scientific Corporation, Envoy Medical Corporation, Pregna International, Johari Digital Healthcare Limited, Renalyx Health Systems, Medprime Technologies, Comofi Medtech.
Technological advancements are a key trend gaining popularity in the in-vehicle infotainment market. Major companies operating in the in-vehicle infotainment market are focused on developing new technological solutions to strengthen their position.
Segments:
1) By Component: Software, Hardware, Services
2) By Services: Entertainment Services, Navigation Services, Communication Services, Vehicle Diagnostics Services, Other Services
3) By Vehicle Type: Passenger Car, Commercial Vehicles
4) By Fitting: OE (Original Equipment) Fitted, Aftermarket
Geographical Insights: North America Leading The Market
North America was the largest region in the in-vehicle infotainment market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of in-vehicle infotainment.
In-Vehicle Infotainment Market Definition
In-vehicle infotainment refers to an electronic system that combines entertainment and information delivery to drivers and passengers. They also include support software applications.
In-Vehicle Infotainment Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The In-Vehicle Infotainment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on in-vehicle infotainment market size, in-vehicle infotainment market drivers and trends, in-vehicle infotainment market major players, in-vehicle infotainment competitors' revenues, in-vehicle infotainment market positioning, and in-vehicle infotainment market growth across geographies. The in-vehicle infotainment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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