In-Car Entertainment and Information System Market
In-Car Entertainment and Information System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Press Release :
Asia Pacific, Latin America, and the Middle East and Africa (MEA) have been demonstrating lucrative opportunities for manufacturers of in-car entertainment and information systems. Besides having robust automotive industries, the purchasing power of consumers in these regions is also rising. This has resulted in a paradigm shift in their demand from basic driving experience to advanced infotainment solutions, subsequently creating sales opportunities for the in-car entertainment and information system market.
As per Transparency Market Research, the global in-car entertainment and information system market stood at US$11.42 bn in 2014. Exhibiting a CAGR of 14.2%, the market is likely to reach US$28.64 bn by the end of 2021.
Entertainment Segment Reports Significant Demand
Navigation, entertainment, and telematics constitute the key application segments of the in-car entertainment and information system market. Of these, the entertainment segment led the market in 2014 with a share of 39.3%. The rising demand for in-car entertainment solutions is creating lucrative prospects for the sales of various hardware and software devices and accessories such as freeview/TV, audio-video devices, DSP systems, USB, and WiFi devices. Recently, these devices have emerged as popular entertainment components to be installed in the latest automotive models.
Besides this, the market is also expected to witness increasing demand for state-of-the-art navigation systems for a safer and more comfortable driving experience. The rising concerns related to road safety is expected to accelerate demand in the telematics segment. Telematics in vehicles include road safety and vehicular technologies, telecommunication systems, and wireless communication systems such as sensors, internet, multimedia, and instrumentation.
Over the course of the forecast period, the navigation and telematics segments are expected to report considerable growth, thus aiding the market’s expansion.
Europe to Remain Leading Regional Market for In-car Entertainment and Information Systems
Regionally, Europe led the global in-car entertainment and information system market in 2014 with a share of 30.3%, followed by North America. Significant economic growth across several countries in Europe, coupled with increasing vehicle production, has been considerably fuelling the demand for in-car entertainment and information systems in the region. Germany and the U.K. are the leading markets for in-car entertainment and information systems in Europe. The rising demand for high-performing cars in these countries provides lucrative opportunities for the manufacturers of in-car entertainment and information systems in Europe. Spurred by these factors, the in-car entertainment and information system market in Europe is expected to reach US$8.5 bn by the end of 2021, retaining its lead through the forecast period.
During the course of the forecast period, TMR expects the demand for in-car entertainment and information systems to rise at a higher pace in Asia Pacific, Latin America, and the Middle East and Africa. The rising disposable income of consumers in these regions and their willingness to spend on high-performing vehicles, will create lucrative prospects for the market. India, Japan, and China are some of the highly attracting countries in the region. Besides this, economic reforms and the growth of the automotive sector in the UAE and Saudi Arabia have provided attractive opportunities for sellers in MEA.
Some of the key players operating in the global in-car entertainment and information system market are Denso Corporation, Harman International, Delphi Automotive PLC, JVC Kenwood Corporation, TomTom International B.V., Pioneer Corporation, Alpine Electronics Inc., and Blaupunkt GmbH.
This market research study analyzes the In-car entertainment and information system market on global basis and provides estimates in terms of revenue (USD million) from 2015 to 2021. It identifies the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it highlights the significant opportunities for market growth in the next six years.
In-car entertainment and information system offer both informational and entertainment services in a vehicle. Such systems provide integrated support and enhanced solutions to the users and replace the requirement for multiple products. Infotainment systems such as audio-video players, navigation units, software applications, radio and DVD players, and other accessories ensure advanced driving experience. In addition, it provides large entertainment options, better connectivity, safety and security in a vehicle. Rear seat entertainment, navigation, radio and internet services are the major infotainment solutions preferred by the consumers.
In-car entertainment and information system also comprise of telematics and embedded mobile navigation systems that are used by the automobile users. Increased driver assistance and improved routing and scheduling are the key benefits of infotainment systems in vehicles. In addition, reduced operating cost and increasing production of vehicles are driving the global in-car entertainment and information system market. Moreover, continuous technological advancements in the wireless communication services and in-vehicle entertainment devices are expected to bolster the growth of the market across the globe, during the forecast period from 2015 to 2021.
With the advancements in technology, there has been a considerable growth in the in-car entertainment and information system market globally. The technology improvement that has transpired in such market can be clearly witnessed from the change in preference of the consumers from basic driving experience to advanced entertainment and infotainment solutions. Advanced GPS systems has enabled smoother driving experience by ensuring easier positioning, convenience and accessibility to the users. 3D rear view camera technology in vehicles has been able to provide improved view of the surroundings close to the vehicle in order to avoid accidents. Wi-Fi and Bluetooth services in vehicles have made communication much simpler and easier while driving. Therefore, technological advancements have taken the in-car entertainment and infotainment systems market in automobiles to a new high and are expected to progress further, in the coming years. The growth in the global in-car entertainment and information system market is directly related to the growth of the global automobiles market. Therefore, with the increasing sales of automobiles globally, the demand for in-car entertainment and information system is set to grow. In regions such as Asia Pacific, Middle East and Africa (MEA) and Latin America, an immense rise in the usage of passenger vehicles is expected over the forecast period, which is set to bolster the growth of the in-car entertainment and information system market in such areas.
The market is segmented on the basis of geography into Europe, North America, Asia Pacific, Middle East and Africa (MEA), and Latin America. These segments have been estimated in terms of revenue (USD million). In addition, the report has been segmented based on connectivity, which includes 4G, 3G, 2G, Bluetooth, WiFi and near field communications. In addition, the report is also segmented by application that includes navigation, telematics and entertainment. Moreover, it is classified by product as rear view camera, navigation, audio unit and video unit.
For better understanding of the in-car entertainment and information system market, the study comprises market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and market attractiveness.
The report also provides company market share analysis of the various industry participants. Key players have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include Harman International, Denso Corporation, JVC Kenwood Corporation, Delphi Automotive PLC, Alpine Electronics Inc., Pioneer Corporation, TomTom International B.V. and Blaupunkt GmbH.
The report segments the in-car entertainment and information system market as:
In-car entertainment and information system market: by connectivity
- 4G, 3G, 2G
- Near field communications
In-car entertainment and information system market: by application
In-car entertainment and information system market: by product
- Rear view camera
- Navigation unit
- Audio unit
- Video unit
In-car entertainment and information system market: by geography
- North America
- Rest of Europe
- Asia Pacific
- Oceania (Australia and New Zealand)
- Rest of APEJ
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
The report provides a cross-sectional analysis of connectivity, application and product segments with respect to the above mentioned regions