In-Vehicle Infotainment Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview

The in-vehicle infotainment market size has grown rapidly in recent years. It will grow 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 markets growth, rising demand for passenger cars and high adoption of connected cars..

The in-vehicle infotainment market size is expected to see rapid growth in the next few years. It will grow to $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 automotive sector, increasing demand for autonomous and electric vehicles and growing urbanization. Major trends in the forecast period include technological advancements in automotive infotainment systems, implementation of over-the-air updates for infotainment systems, strategic partnerships and collaborations among market players to improve product portfolio, integration of android operating system in infotainment units, product innovations in automotive connectivity, integration of artificial intelligence (ai) technology in infotainment systems and personalized in-vehicle infotainment systems..

Market Overview -
In-vehicle infotainment refers to an electronic system that combines entertainment and information delivery to drivers and passengers. They also include support software applications.

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High-End Luxury Car Sales Boost 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. For instance, in 2021, according to BMW Group, a Germany-based manufacturer of performance luxury vehicles and motorcycles, in 2021, the global sales of luxury vehicles of BMW, MINI, and Rolls-Royce brands increased by 8.4% with 2,521,525 delivered to customers globally in 2021. Further, the BMW brand cars reported an all-time global sales high of 2,213,795 units in 2021. Therefore, the increase in the sales of high-end luxury cars is driving the growth of the in-vehicle infotainment market.

Competitive Landscape -

Major companies operating in the in-vehicle infotainment market report are 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, Dynamed Equipments, Aurolab, Unicorn Denmart Limited, Lepu Medical Technology Company, Calon Cardio, Better Medical Technology, Beijing Aeonmed Co., Ltd, BONSS MEDICAL, Koninklijke Philips N.V., Berlin Heals Holding AG, CorWave SA, Philips Healthcare, Draegerwerk AG, Getinge Group, Ceryx Medical, MEDICO s.r.l., Medical-Lomza Sp. z o.o., Panop CZ, Medplant LLC, P.H.U. Medical, ProVeterináre, Johnson & Johnson, Baxter, Stryker, Axio Biosolutions, Cirtec Medical, Masimo, Teleflex Inc, NAGL MedTech, B Braun Argentina, Braile Biomedica Ltd, Megadyne Argentina, Embramed Industria e Comercio de Produtos Hospitalares Ltd, Arabian Medical Enterprises LLC, Zahrawi Group, Al Burak Medical Services, Lodox Systems, Glenmed Healthcare Solutions (PTY) Ltd, Lepeke Medical Group, LTE Medical Solutions

In-Vehicle Infotainment Market Rides The Wave Of Technological Advancements

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. For instance, in August 2022, Mitsubishi Electric Corporation, a Japan-based manufacturer of electronics and electrical equipment, launched the new futuristic infotainment system 'Inca Jay Digital Cockpit'. The unique features of the new cockpit include a real-time voice translator, image processing, and advanced driver assistance systems (ADAS). The system can monitor the driver's face with near-infrared and driver-facing cameras to detect any issues with the drivers. The system has an evolved ADAS that will help in emergencies and safety terms.

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Key Segments -

The in-vehicle infotainment market covered in this report is segmented -

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

Key highlights covered in the report -

1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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