In-car infotainment is a collection of wide features installed in the car to provide entertainment, information and communication services.
BROOKYLN, NEW YORK, UNITED STATES, January 8, 2018 /EINPresswire.com/ — The global in-car infotainment market is segmented into vehicle such as passenger cars and commercial cars. Among these segments, passenger cars segment grabbed the largest segment in 2016 and it is projected to seize a noteworthy CAGR during the forecast period. Likely, high adoption rate of technologically advanced cars integrated with numerous media features is believed to foster the growth of global in-car infotainment market. Apart from this, changing consumer preferences towards advance features such as navigations and others is one of the factors propelling the market of in-car infotainment across the globe.
Global in-car infotainment market is anticipated to register a significant CAGR of 9.3% by the end of 2024. Additionally, the market of in-car infotainment is riding on the back of expansion of premium class cars along with swift advancement in technology. Moreover, the global in-car infotainment market is projected to account notable revenue by 2024.
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The navigation segment by product is believed to attain a highest CAGR over the forecast period owing to increasing consumer preference for navigation coupled with advancement in navigation system is predicated to boost the growth of global navigation market. In terms of geography, Europe is projected to grasp the leading share in the market of in-car infotainment by 2024. Moreover, presence of major automotive manufacturing companies in this region along with high demand for luxury cars is projected to foster the growth of in-car infotainment market in Europe region.
Increasing Penetration of Smart phones
Growing implementation of smart phones with cars to enhance in-car experience and rising adoption of cloud technology for in-car media are some of the factors intensifying the growth of in-car infotainment market. Furthermore, continuous advancement in infotainment technology and frequent upgradation of in-car infotainment by key vendors is envisioned to bolster the growth of in-car infotainment market all over the globe.
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Evolution of Automotive Industry
Introduction of numerous features in cars such as navigation, climate control, display and others have augmented the sales of cars which is anticipated to directly impact the growth of in-car infotainment market. In addition to this, in-car infotainment market is gaining momentum owing to increase in demand for luxury cars.
Although, high price associated with in-car infotainment systems is believed to dampen the growth of in-car infotainment market. Further, continuous need to upgrade the system software timely is also anticipated to restrain the market of in-car infotainment during the forecast period.
The report titled “In-Car Infotainment Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global in-car infotainment market in terms of market segmentation by vehicle, by distribution channel, by product and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global in-car infotainment market which includes company profiling of Panasonic Corporation, Harman international industries, Continental AG, Pioneer Corporation, Alpine Electronics, Garmin, Tom Tom International, JVC Kenwood Corporation, Blaupunkt GmbH, Denso Corporation, Delphi Automotive LLP, and Audi AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global in-car infotainment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire