Global Automotive Infotainment System Market: Overview
Countries across the globe are seeing a stir in demands for better infotainment options in vehicles. As people are witnessing a rise in their disposable incomes, so is the market for infotainment systems seeing an upward growth curve. Therefore it doesn’t come as a surprise that players are focused on improving in-vehicle experience. This usually includes navigation and diagnostic systems which can be accesses through keypads, touch screens, multiple software and sometimes even audio visual interface.
So, it does not come as a surprise that demand for these products is rising at a steady pace, owing to improved standard of living and a quest of better lifestyle. Thus, the cannabis global automotive infotainment system market is set to see a stellar CAGR (Compound Annual Growth Rate) over the forecast period of 2019-2027. This will translate to ample opportunities to for players to tap into.
Another factor driving growth in the market is the rise of Internet of Things, and thus connected experiences.
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Global Automotive Infotainment System Market: Notable Development
Certain developments happening in the market place are transforming the landscape Global Automotive Infotainment System Market.
For instance, in February of the year 2018, Samsung Electronics entered into a strategic collaboration with Grab, which is Southeast Asia’s largest car-hailing company. As per the partnership, the former – Samsung Electronics – agreed to supply its advanced car infotainment systems to Grab taxis. This brings forth the need for superior infotainment services demanded in the current in-car-experience scenario. And, it is not just infotainment system market players but also other mobility services such has Ola, Uber and Grab that are taking note and adjusting to demand accordingly.
The global automotive infotainment system market is slightly fragmented and will see high competition over the coming years. Key names in the global automotive infotainment system market include Harman International Industries Inc., Visteon Corporation, Denso Corporation, Robert Bosch, and Aptiv PLC, among others. To keep an edge over competitors, players are not just entering strategic partnerships but also they are not shying away from mergers and acquisitions.
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Global Automotive Infotainment System Market: Key trends and driver
The global automotive infotainment system market is on a upward trajectory owing to various trends and drivers.
A notable rise in incomes of people will contribute positively to the growth of automotive infotainment system market. This is particularly true of the developing economies that are demonstrating tremendous performance. And, as economies perform better, spending capacities increases and with improved spending capacities, standard of living improves, providing the perfect base for automotive infotainment system market to grow as need for cars as well as in-cars experiences increases.
- The forecast period of 2019-2027, will be marked by a high adoption of connected devices and advanced technology in everyday lives. As this element becomes a critical part of everyday lives for people, ease in use will develop and once people find technology an easy thing to deal with, adoption in every sphere including in-car experience will rise. Thus, growth in the global automotive infotainment system market will be noted.
Global Automotive Infotainment System Market: Regional Analysis
While North America and Europe will chart significant growth numbers owing to a high rate of adoption of next generation technology and high disposable incomes, it is the Asia Pacific (APAC) region that will chart new territories of growth. It will create opportunities yet to be tapped owing to better economic performance of the nations in the region, creating a client base that is new and eager to experience a high-endlife.
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