Electric Vehicle (EV) Infotainment Market Size, Share, Growth, and Industry Analysis by Type (Audio, Video, Navigation, Others), by Application (Passenger Cars, Commercial Vehicles), Regional Insights, and Forecast To 2032

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ELECTRIC VEHICLE (EV) INFOTAINMENT MARKET REPORT OVERVIEW

Global Electric Vehicle (EV) Infotainment Market size, valued at USD 14.16 billion in 2023, is expected to climb to USD 1824.55 billion by 2032 at a CAGR of 70.8% during the forecast period.

Electric vehicle infotainment systems are progressively integrating advanced technologies such as touchscreens, speech recognition, enlarged authenticity, and connectivity features. The need for the EV infotainment market is being motivated by the rising reputation of electric cars (EV) among users, both for own and business use. Vehicle infotainment system's typical features include the ability to deliver navigation while the vehicle is in motion, the management of video entertainment content, and the facility of entertainment for travellers in the rear seats, and connectivity with smartphones to allow hands-free operation through vocal sound commands.

Customers progressively expect their vehicles to participate effortlessly with smartphones and other devices. This demand for connectivity and digital services drives automakers to offer advanced infotainment systems. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 IMPACT

"Pandemic Hampered The Market Due To Unexpected Disruption In The Sector"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market.Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings.Constant innovation in manufacturing of products is anticipated to stimulate product demand.

ELECTRIC VEHICLE (EV) INFOTAINMENTMARKET SEGMENTATION

According to type, the market can be segmented into audio, video, navigation, others

Audio will capture the maximum market share through forecast period.

• Audio: It covers the audio-related features of infotainment systems, comprising tune players, transistor, streaming facilities, and sound control.

• Video: Video-based infotainment includes audio-visual shows, rear-seat entertaining systems, and video streaming.

• Navigation: this sector plays an acute role in energy management, offering guidance on charging stations and range optimization.

• Others: This sector comprises further infotainment features such as in-car connectivity, Internet of Things integration, increased and virtual authenticity, head-up displays, and connected vehicle uses.

By Application Analysis

According to application, the market can be segmented into passenger cars, commercial vehicles

Electric vehicle (EV) infotainment market players cover segment as passenger cars will dominate the market share during forecast period.

• Passenger cars: This sector sees high demand for superior audio systems, incorporated smartphone connectivity, progressive navigation, and wide-ranging entertainment options

• Commercial vehicles: In commercial vehicles, infotainment systems tend to weight more on efficiency and output.

DRIVING FACTORS

"Growing Number Of Electric Vehicle To Boost The Market Growth"

People are progressively investing in the purchase of electric vehicles due to the rising consciousness among entities.The rapid development in electric vehicle sales generates a broader market for infotainment systems. As EVs often feature advanced technology, they serve as a platform for new infotainment features.

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the electric vehicle (EV) infotainment market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. The continuous advancement in infotainment technology, drives consumer interest. Automakers increasingly use these features to differentiate their vehicles and improve user experience.

RESTRAINING FACTOR

"High Cost To Hamper The Market Growth"

Developing advanced infotainment systems requires significant investment in hardware, software, and user interface design. This cost can be a barrier, especially for smaller manufacturers or those focusing on budget EVs. Technical difficulties will reduce the industry revenue.

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ELECTRIC VEHICLE (EV) INFOTAINMENTMARKET REGIONAL INSIGHTS

"Asia Pacific to Dominate the Region Due To Rapid Advancement In Electrical Components"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

Asia Pacific is further expected to witness growth in the electric vehicle (EV) infotainment market share. The region is dominating the market due to prompt progression in electrical components and growing industrial efficacy. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List of Top Electric Vehicle (EV) Infotainment Companies

• Panasonic (Japan)
• Harman (U.S.)
• Alpine Electronics (Japan)
• Pioneer (Japan)
• Airbiquity (U.S.)

INDUSTRIAL DEVELOPMENT

July 2020: Pioneer introduced the latest range of touchscreen infotainment systems as a part of their aftermarket solutions in India. By helping Pioneer’s new range of infotainment systems, customers can allow the current vehicle with Alexa, the cloud-based voice service from Amazon.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operative tool that performers can use to gain a viable lead over their challengers and ensure lasting achievement in the market.