Automotive Infotainment Market revenue to surpass USD 21.5 Billion by 2035, says Research Nester

Major automotive infotainment market players include Alps Alpine Co., Ltd., Group Forvia, Harman International Industries, Incorporated, Panasonic Corporation, Robert Bosch GmbH, Visteon Corporation, Denso Corporation, Pioneer Corporation, and Aptiv Global Operations Limited.

New York, March 05, 2024 (GLOBE NEWSWIRE) — The global automotive infotainment market size is expected to expand at ~9.3% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 21.5 billion by the end of 2035, up from a revenue of ~USD 8 billion in the year 2022.The market’s expansion may be ascribed to the expansion of the automotive industry’s innovations, technical advancements, and an increase in automotive research and development (R&D) around the globe. For instance, it was discovered that European Union (EU) investments in automotive R&D totaled almost USD 60 billion in 2020.

Request Free Sample Copy of this Report @ in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The rapid urbanization in the Asia-Pacific region, coupled with an increase in disposable income, is a major driver for the market. As more people migrate to urban areas, the demand for vehicles with advanced infotainment systems rises. Consumers in urban settings often seek enhanced in-car entertainment and connectivity options, contributing to the growth of this market. According to the United Nations, the Asia-Pacific region has witnessed significant urbanization, with an urban population of 1.3 billion in 2021. The expanding middle-class population in the Asia-Pacific region signifies a rising consumer base with an inclination towards premium and technologically advanced vehicles. As consumers move up the economic ladder, their preferences shift towards vehicles equipped with sophisticated infotainment systems, creating a substantial market opportunity for automotive manufacturers.

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Growing vehicle manufacturers to Propel the Growth in the Europe Region

The European automotive infotainment market is estimated to garner the highest CAGR by the end of 2035. Due to the existence of renowned vehicle manufacturers, Europe accounts for a sizeable portion of the worldwide automotive infotainment industry. Major automakers collaborate closely with international software firms to offer cutting-edge infotainment systems. The product introduction will boost the business’s revenue share and retain its hegemony over rivals globally. There is an increase in smartphone features being incorporated into in-car infotainment systems. One of the greatest rates among other areas is seen in Europe, where more than 90% of individuals have a mobile internet connection. Smartphone use for the same objectives in automobiles has expanded along with the use of mobile phones.

Automotive Infotainment, Segmentation by Product Type

• Audio Unit
• Display Unit
• Heads-Up Display
• Navigation Unit
• Communication Unit

Amongst these segments, the display unit segment in the automotive infotainment market is anticipated to hold the largest share over the forecast period. The increased number of screens put in automobiles is what is responsible for the category growth. Because displays have grown to be such an important part of automobile interiors, the automotive industry is now driving advancements in display technology such as automotive smart display. Over the years, touchscreen infotainment systems have been introduced, analog dashboards have been replaced with digital ones, and backseat entertainment displays have been standard equipment for several models. The number of displays in automobiles will rapidly increase over the next few years, reaching up to 12 per vehicle. Moreover, every passenger in seven-passenger SUVs is anticipated to get their own display screen in the near future. Stricter regulations aimed at reducing driver distraction are driving innovation in display unit design. Manufacturers are developing user interfaces and display units that minimize distraction and improve user interaction. Compliance with these regulations propels the development of advanced display technologies, such as heads-up displays and voice-activated controls, to enhance safety while providing necessary information.

Automotive Infotainment, Segmentation by Vehicle Type

• Motorcycles
• Passenger Cars
• Commercial Vehicles

Amongst these segments, the passenger cars segment in the automotive infotainment market is anticipated to hold a significant share over the forecast period. Advancements in technology, especially in-car connectivity, are major growth drivers for passenger cars. Consumers seek advanced features such as infotainment systems, connectivity with smartphones, and driver-assistance technologies. As technological capabilities become integral to the driving experience, automakers are focusing on integrating cutting-edge features into passenger cars to meet consumer expectations. Stringent regulations and a global push for improved vehicle safety contribute to the growth of the passenger car segment. Governments worldwide are implementing safety standards and encouraging the adoption of safety technologies in vehicles. Features such as advanced driver assistance systems (ADAS), airbags, and collision avoidance systems become key selling points, driving innovation in passenger car design. The World Health Organization (WHO) reports that road traffic injuries are the leading cause of death among people aged 5-29 years.

Few of the well-known industry leaders in the automotive infotainment market that are profiled by Research Nester are Alps Alpine Co., Ltd., Group Forvia, Harman International Industries, Incorporated, Panasonic Corporation, Robert Bosch GmbH, Visteon Corporation, Denso Corporation, Pioneer Corporation, Aptiv Global Operations Limited, and other key market players.

Recent Development in the Automotive Infotainment Market

• LG Electronics, Inc. announced receiving the order for USD 6.2 billion, which will include vehicle components, telematics and infotainment systems. The figure represents the company’s 13% backlog. The company aims to lead the in-vehicle infotainment system by providing its products and solutions to major car manufacturers such as Mercedes, Renault, and General Motors.
• Garmin recently demonstrated its latest in-cabin solutions for the Automotive OEM at CES 2023. This system features four infotainment touchscreens, an instrument cluster, a cabin monitoring system, wireless headphones, wireless gaming controllers, smartphones, and various entertainment options. It is designed to be unified with a single SoC (system on chip).

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