June 18, 2024
IN-VEHICLE INFOTAINMENT Market

IN-VEHICLE INFOTAINMENT is expected to be Flourished by Growing Demand for Connected Vehicles

In-vehicle infotainment (IVI) systems provide in-car entertainment and information delivery to enhance the driving experience. IVI units enable various functions such as digital radio, built-in satellite navigation, vehicle diagnostics, Bluetooth mobile phone integration, and connection to smartphone apps through on-board apps stores. Advance IVI solutions support cloud connectivity features that allows for over-the-air map and software updates. The growing adoption of advanced driver-assistance systems (ADAS) and autonomous vehicles is increasing the uptake of high-end IVI units with comprehensive connectivity options.

The global in-vehicle infotainment Market is estimated to be valued at US$ 28.63 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing demand for connected vehicles is expected to drive the growth of the in-vehicle infotainment market over the forecast period. Connected car technology enables different internet-based services and apps directly through in-built IVI systems. This brings an elevated level of convenience by integrating smartphones seamlessly with the vehicle. Furthermore, the rising need for entertainment and networking among passengers while traveling is augmenting the demand for advanced IVI systems. In-vehicle infotainment solutions provide access to digital content such as music, videos, online radio, podcasts, and social media platforms to keep occupants engaged. Thus, the growing consumer preference for connected driving experience and on-board content streaming is expected to boost the market of in-vehicle infotainment during the forecast period.

Segment Analysis
The in-vehicle infotainment market is dominated by the OEM fitted segment, which holds around 60% of the total market share. The OEM fitted systems are installed in vehicles by automakers during manufacturing and are integrated into dashboard or infotainment systems. These systems offer features like navigation, multimedia, connectivity through smartphones and offer a seamless in-car experience. The aftermarket segment is also growing steadily, accounting for around 40% share. The aftermarket infotainment units enable drivers to upgrade older car models with latest connectivity and entertainment features.

PEST Analysis
Political: Regulations around driver distraction and safe use of infotainment features while driving are being strengthened globally.

Economic: Rising disposable incomes and demand for connected car experiences are fueling market growth.

Social: Younger consumers expect their vehicle infotainment systems to be at par with their smartphone technologies.

Technological: Advances in areas of display technologies, connectivity solutions, cloud services and artificial intelligence are redefining the inflight entertainment experience.

Key Takeaways
The Global In-Vehicle Infotainment Market Size is expected to witness high growth over the forecast period supported by rising vehicle production and sales. The global in-vehicle infotainment Market is estimated to be valued at US$ 28.63 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.

The Asia Pacific region dominates the market currently due to large vehicle manufacturing bases in China, India, and Japan. Europe and North America are other major regional markets for in-vehicle infotainment systems.

Key players operating in the in-vehicle infotainment market are BASF SE, Evonik Industries AG, Clariant International AG, Croda International PLC, DowDuPont Inc., Solvay SA, Arkema S.A., Akzo Nobel N.V., Mitsubishi Chemical Corporation, A. Schulman, Inc. Key players are focused on introducing advanced connectivity solutions integrated with smartphone technologies and voice command options. Increasing investments are seen in areas of embedded systems, fleet management services and over-the-air updates.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it