by Large Paragraph: In-vehicle infotainment systems provide enhanced entertainment and connectivity features inside vehicles. These systems offer navigation, audio and video playback, hands-free calling, and other services through integrated display screens and user interfaces. Personalization capabilities allow users to customize infotainment features as per their comfort and convenience.
The global In-Vehicle Infotainment Market is estimated to be valued at US$ 24.85 Bn in 2023 and is expected to exhibit a CAGR of 10.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Personalization capabilities have become a key trend in the in-vehicle infotainment market. These capabilities allow users to store individual settings and preferences for features like media playback, navigation, climate control, seating position etc. The personalized profiles can then be used across different vehicles. This offers enhanced comfort to users and the customized experience drives greater engagement with infotainment systems. Automakers are increasingly focusing on personalization to differentiate their offerings and generate more in-car technology adoption. As personalization deepens the user experience, it is expected to be a major driver for the in-vehicle infotainment market over the forecast period.
SWOT Analysis
Strengths: In-vehicle infotainment systems offer enhanced multimedia and connectivity capabilities that improve the user experience. They provide Internet connectivity, navigation, and access to a wide array of multimedia content in vehicles.
Weaknesses: The high costs associated with complex and feature-rich in-vehicle infotainment systems remain a key barrier for mass adoption. System reliability issues and compatibility problems also pose challenges.
Opportunities: The rapid proliferation of smartphones and emerging connectivity technologies is expected to boost the demand for advanced connected vehicle solutions. Developing markets are also opening up new growth avenues.
Threats: Stringent safety and cybersecurity regulations around distractive infotainment interfaces can hinder revenue growth prospects to some extent. Inter-operability issues due to heterogeneous platforms also introduce risks.
Key Takeaways
The Global In-Vehicle Infotainment Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by the rising consumer preference for connectivity and emergence of autonomous vehicles. Advances in connectivity technologies are enhancing the user experience for drivers and passengers.
Regional analysis: North America dominates the market currently due to high vehicle parc and technological advancements. However, Asia Pacific is poised to witness the fastest growth led by China, Japan and India. Major automakers are focusing on these developing markets for future opportunities.
Key players: Key players operating in the in-vehicle infotainment market are Straumann Group, Zimmer Biomet Holding, Inc., Danaher Corporation, Dentsply Sinora Inc., BioHorizons IPH, Inc., Henry Schein, Inc., Osstem Implant Co. Ltd., Avinent Implant System, A-Dec Inc., Nobel Biocare, Sonoma Pharmaceuticals, Inc, and Nexa3D. The players are focusing on partnerships, mergers, acquisitions and new product launches for further penetration.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
