Pune, Feb. 22, 2023 (GLOBE NEWSWIRE) -- In order to provide a high-quality driving experience, the automobile industry is always developing new technology. Car manufacturers have become interested in the development of the automobile infotainment system as a technology that combines information and enjoyment. Important automakers are focusing on cooperative sophisticated technologies like driver assistance, augmented reality real-time data collecting, and the Internet of Things in order to enhance the functionality of infotainment systems (IoT). The inclusion of these technology into vehicles has improved driver safety and experience, which is driving demand for automotive infotainment systems.
According to SNS Insider “In-vehicle Infotainment Market Size was valued at USD 22.97 billion in 2022 and is expected to reach USD 45.44 billion by 2030, and grow at a CAGR of 8.9% over the forecast period 2023-2030.”
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The Market Is Being Driven By Technological Advancements In Cloud Technology
Several types of cloud technologies are used in automobiles. Cars will be able to interact with one another through the cloud to prevent crashes and update traffic data and maps. Although cloud computing in cars is not a new concept, it is growing swiftly because to collaboration. The majority of electric vehicles have the ability to exchange data with data centres, enabling them to assist the driver and offer real-time weather and traffic information.
| Report Metrix | Details |
| Market Size by 2030 | $45.44 Billion |
| Market Size in 2022 | $22.97 Billion |
| CAGR 2023-2030 | 8.9% |
| Market Segmentation | |
| Market Segmentation | By Form, By Location, By Vehicle Type, By Component, By Operating System, By Connectivity, By Installation Type |
| Key Players | Harman International (US), Denso Corporation, Samsung Electronics, Pioneer Corporation, Apyiv PLC, Panasonic Corporation (Japan), Alps Alpine Co Ltd |
| Market Drivers | |
| Key Drivers |
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| Opportunities |
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| Regional Analysis | |
| Regions | North America Europe Asia-Pacific Middle East & Africa Latin America |
Demand for Passenger Cars is High leading to rise in In-vehicle Infotainment Market
The In-vehicle Infotainment Market is also influenced by the rising quality of living in emerging nations and the rise in demand for passenger cars brought on by the rapid growth of the middle-income group population. Another element influencing consumers' desire for these vehicles is the availability of reasonably priced alternatives. Also, the market for in-vehicle infotainment benefits from the growth of the automotive industry, surge in investments, and rise in disposable income.
Geographically, the in-vehicle infotainment industry in North America accounts for the biggest revenue share. A few additional reasons driving the market's growth include the region's rapidly developing advanced technology sector, the expanding automotive industry, and the rise in connected car adoption.
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Due to the continually evolving automotive industry, Europe is the in-vehicle infotainment system market that is growing the fastest. Major automakers like BMW, Renault Mercedes and Daimler are in the area, which has created lucrative chances for the in-vehicle infotainment sector to expand in recent years. The market's expansion in Europe is largely due to Germany and France. The region's increasing use of electric vehicles is thought to be a prime factor in the market's growth in the future as well.
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