In-Car Entertainment and Information System Market Potential Growth

Posted by Sakshi Mishra on March 24th, 2020

Product innovation, technological advancements, and maintaining quality standard are the key strategies adopted by players to maintain a stronghold in the global in-car entertainment and information system market. As per the findings of a Transparency Market Research (TMR) report, the top four companies held over 31.6% of the market in 2014. The market therefore demonstrates a fragmented vendor landscape since no single player enjoys the lion’s share. 
The global in-car entertainment and information system market stood at US.42 bn in 2014. Rising at an impressive 14.2% CAGR, TMR expects the market to reach US.64 bn by the end of 2021.
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New Technologies Entering the Market to Stir Consumer Interest
Innovation of the latest technologies has resulted in considerable growth of the in-car entertainment and information system market. A paradigm shift in consumer preference from a basic driving experience to more advanced infotainment solutions augur well for the market. “As the automotive industry continues expanding, the demand for in-car entertainment and infotainment system will rise in response,” states a lead TMR analyst. “Among the infotainment solutions deployed in the latest versions of cars, WiFi and Bluetooth, navigation, audio-video solutions, and telematics are among the technologies currently attracting a lot of interest,” he added.
Besides this, the increasing vehicle production across Asia Pacific, Latin America, and the Middle East and Africa (MEA) is expected to fuel demand for in-car entertainment and information systems. Positive growth witnessed in developing countries across these regions, coupled with rising purchasing power of consumers, is poised to augment automobile sales, thus boost in-car entertainment and information systems sales across emerging economies.

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Sakshi Mishra

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Sakshi Mishra
Joined: July 22nd, 2019
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