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IMARC Group, a leading market research company, has recently released a report titled “Automotive Infotainment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global automotive infotainment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Automotive Infotainment Industry?
The global automotive infotainment market size reached US$ 19.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.7 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2024-2032.
What is Automotive Infotainment?
Automotive infotainment systems are in-vehicle devices designed to provide entertainment and information to drivers and passengers on the road. They are usually equipped with various control elements, including button panels, audio/visual A/V interfaces, touchscreen displays, and voice commands, which prioritize the safety of passengers while staying connected on the road. In addition, they offer advanced features such as climate control, vehicle voice control, navigational services, parking assistance, two-way communication tools, and security services to improve the driving experience and operational efficiency in commercial and passenger vehicles across the globe.
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What are the growth prospects and trends in the Automotive Infotainment industry?
The market is primarily driven by the rising demand for smart vehicles with integrated infotainment solutions. In addition, the increasing sales of passenger vehicles due to rapid urbanization, increasing consumer expenditure capacities, easy financing options available, and improving road networks are contributing to the market growth. Moreover, the integration of augmented reality (AR) real-time data collection and the internet of things (IoT) to improve the functionality of infotainment systems and enhance the comfort and safety of drivers represents another major growth-inducing factor. Besides this, the incorporation of automotive infotainment systems such as in-car Wi-Fi, voice recognition, and driver assistance to improve the overall vehicle efficiency is positively influencing the market growth. Along with this, the increasing internet penetration, extensive use of smartphones and the emergence of the fifth-generation (5G) network that boosts the speed of real-time data collection and accuracy of communication units are accelerating the demand for automotive infotainment systems. Furthermore, the widespread product adoption in commercial vehicles with navigation and vehicle control units to reduce response time during emergencies and road accidents is creating a positive market outlook.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of Product Type, Vehicle Type, Sales Channel, Technology, and Region.
Breakup by Product Type:
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If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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