June 25, 2024
IN-VEHICLE INFOTAINMENT Market

IN-VEHICLE INFOTAINMENT Market witnesses robust expansion Propelled by rising demand for enhanced vehicle experience

The in-vehicle infotainment market comprises audio, video, navigation, and other multimedia integrated systems designed to enhance the travel experience inside vehicles. These systems offer features like hands-free calling, on-board diagnostics, Bluetooth connectivity, music playback, navigation assist, and rear-seat entertainment. With growing awareness about advanced vehicle technologies, in-vehicle infotainment solutions are becoming a standard feature across automobiles.

The global IN-VEHICLE INFOTAINMENT Market is estimated to be valued at US$ 28.63 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising demand for enhanced travel experiences has been a key driver for the growing adoption of advanced in-vehicle infotainment systems. Vehicle users, especially young consumers, expect their vehicles to be well-equipped with the latest connectivity and entertainment features. This has encouraged automakers to offer innovative infotainment options like large touchscreens, 360-degree camera systems, advanced navigation aids, over-the-air upgrades, and voice controls. Moreover, the integration of infotainment with vehicle diagnostic and predictive maintenance tools allows for improved safety, efficiency, and after-sales service experience. Such benefits have made in-vehicle infotainment a rapidly emerging trend in the automotive industry.

SWOT Analysis
Strength: The in-vehicle infotainment market provides an immersive experience for drivers and passengers. It integrates various connectivity and entertainment features that enhance the travel experience.
Weakness: High upfront costs associated with buying and installing advanced in-vehicle infotainment systems act as a restraint for some customers. Also, connectivity issues can disrupt the usage experience.
Opportunity: Growing demand for over-the-air updates and advanced driver assistance systems provides opportunities for Infotainment system providers to offer supplemental features. Integrating artificial intelligence capabilities can further enhance the user experience.
Threats: Cybersecurity threats pose risks as vehicles become increasingly connected. Stringent regulations associated with driver distraction also act as a challenge.

Key Takeaways
The Global In-Vehicle Infotainment Market Size is expected to witness high growth. Advancements in connectivity technologies are driving the demand for infotainment systems that offer seamless integration of smartphones and enable over-the-air updates. The global IN-VEHICLE INFOTAINMENT Market is estimated to be valued at US$ 28.63 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.

Regional analysis – North America dominates the global in-vehicle infotainment market currently due to high vehicle production and the presence of technology leaders in this region. However, the Asia Pacific region is expected to witness the fastest growth due to rising vehicle sales in countries like China and India.

Key players – Key players operating in the in-vehicle infotainment market are BASF SE, Evonik Industries AG, Clariant International AG, Croda International PLC, DowDuPont Inc., Solvay SA, Arkema S.A., Akzo Nobel N.V., Mitsubishi Chemical Corporation, and A. Schulman, Inc. These companies are focusing on developing advanced touchscreen-based infotainment solutions to enhance the driver and passenger experience.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it