Infotainment Equipment In Automotive Market To Exceed US$ 31.96 Billion By 2024

Posted by Vinay on September 28th, 2017

According to the report, titled “Global Market Study on Auto Infotainment: APAC Expected to Account for the Highest Market Share Between 2016 and 2024,” the global market for auto infotainment will bear witness to surging demand for entertainment systems segment, which are anticipated to reach market value of US$ 13.5 billion by 2016-end. North America is likely dominate the global market with over 25% market share, but Asia-Pacific’s auto infotainment market will emerge extensively by recording an estimated 26.3% market share; gaining a marginal dominance over the former region.

Long journey becomes better when one tunes into some all-time hits while driving the car, and entertains the passenger by playing movies in rear-seat entertainment screens. Cars have become much more than an automotive for commuting, and the entertainment systems installed in them are become multifunctional. The currently produced range of cars and other automotive are being equipped with a computer that can provide analytical data on the performance of the car and also make the travel enjoyable. A common auto infotainment system includes features such as audio-video playback, automated car controls, parking sensors, rear-view camera imagery, and remote locking-unlocking.

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However, very few consumers and car users are privy with the fact that installing any auto infotainment system shall lead to further expenditure for periodically subscribing such features. While this move will demote the use of auto infotainment systems with hidden costs, cars will continue to be brought into the market with such systems pre-installed in it.

The global market for auto infotainment is likely to garner profits from subscription-based services and consolidate its integration to the global automotive industry as well as the global IT sector. By the end of 2024, the global auto infotainment market is projected to reach valuation of US$ 31.96 billion, according to a report developed by Persistence Market Research.

Hidden costs in such systems comprise of periodical subscription to live traffic data, GPS programming systems, customized maps, satellite radio, and few other

entertainment services. Revenues from such costs will incidentally increase the revenues of global auto infotainment market, while subsequently limiting their consumption among car users; particularly the ones seeking permanent or lifetime subscription or looking for shelling out minimum expenditure on car infotainment.

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Likewise, auto infotainment continues to be remodelled by the influence of recent technological advancements in computing and automation. Remote access to car’s functions has integrated automation with real-time computing and wireless connectivity. This transformation is highly pivotal in the automotive industry that tech giants such as Google have developed an independent platform for managing and controlling a car remotely. The Android Auto, developed by Google, is a smartphone platform that includes apps for controlling the cars automated features through satellite. The keyless authenticity of Android Auto enables the user to access functions such as opening the trunk, changing the in-car temperature, adjusting performance modes, and even effectively unlocking a car with the key left inside. The costs of enabling a car’s auto infotainment system with such platforms can appear to be a pricey proposition, but will ultimately fuel the growth of global auto infotainment market. When tech giants foray into the global market for auto infotainment, car users will be compelled to adopt expensive auto infotainment systems and reduces hassles of managing car functions manually.

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