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The global automotive infotainment market size is estimated to display strong growth by reaching USD 49.86 billion by 2030. Fortune Business Insights™ in its report titled “Automotive Infotainment Market Size, Share & COVID-19 Impact Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), By Application (Navigation, Media, Communication, Payment Services, and Telematics), By Distribution Channel (OEM and Aftermarket), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 30.69 billion and is expected to reach USD 32.16 billion in 2023. The market is expected to witness a strong CAGR of 6.47% during 2023-2030. Vehicle’s infotainment system is of digital screen, which controls various aspects such as cabin temperature, media, and information. The automotive industry is one of the evolving industries and with developments in new technologies and advancements in the existing technologies is expected to drive market growth. Integration of connectivity features such as in-vehicle calling and data connectivity is set to propel market development.
LG and Magna announced the Development of Proof of Concept for an Automated Driving Infotainment Solution
In January 2023, LG and Magna announced the development of proof of concept for an automated driving infotainment solution. The concept focuses on enhancing differentiating customer experience. The partnership between the companies will focus in LG’s infotainment capabilities with ADAS system provided by Magna.
Market Witnessed Slowdown in the Rollout of the Product Due to Shortage of Semiconductor Supply
The COVID-19 pandemic affected the automotive industry due to shut down of production and assembly plants. The market witnessed a slowdown in the rollout of the product caused by the shortage of semiconductor supply. However, after the pandemic, the production of vehicles accelerated to recover the losses of the pandemic. The market is expected to grow post-recovery of semiconductor shortage since major OEMs have accelerated R&D efforts to provide consumers with more detailed information on their vehicles.
In-cabin Experience Offered by Major Automotive OEMs to Propel Market Development
In-cabin experience offered by the major automotive OEMs is predicted to drive the automotive infotainment market growth. The automotive industry is innovating and developing technologies for connectivity and integrating additional data accessibility features into their infotainment to make the journey enjoyable and effortless. The demand for vehicle telematics is set to drive the market growth of automotive infotainment.
However, the risk of data manipulation and code overwriting may lead to fatal vehicle failures, and data hacking of users is expected to hinder market growth. Thus, a robust security system is necessary to prevent data leaks and hacking.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/automotive-infotainment-market-102676
Market Players are Aiming for Collaborations and Partnership Contracts with Major Companies
The manufacturers of the market are Harman International Industries, Inc., Visteon Corporation, Denso Corporation, Robert Bosch GmbH, and LG Electronics. The market players have been aiming for collaborations and partnership contracts with major companies to gain a competitive edge.
Key Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 6.47% |
Unit | Value (USD Billion) |
Segmentation | By Vehicle Type
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By Application
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By Distribution Channel
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By Geography
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