The electric vehicle infotainment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electric Vehicle Infotainment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electric vehicle infotainment market size has grown exponentially in recent years. It will grow from $1.62 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 36.4%. The growth in the historic period can be attributed to increased screen size, increasing usage of wireless connectivity, urbanization, safety regulations.
The electric vehicle infotainment market size is expected to see exponential growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 32.9%. The growth in the forecast period can be attributed to content streaming, head-up displays, augmented reality, ecosystem expansion, in-car health and wellness, autonomous driving. Major trends in the forecast period include integrated charging infrastructure, battery swapping stations, smart charging solutions, wireless charging technology, ultra-fast charging stations.
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Scope Of Electric Vehicle Infotainment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electric Vehicle Infotainment Market Overview
Market Drivers –
The increasing consumer adoption of passenger and commercial electric vehicles is expected to propel the growth of the electric vehicle infotainment market going forward. Passenger and commercial electric vehicles refer to a diverse range of electrically powered automobiles designed for either personal transportation or commercial purposes. Consumers are adopting passenger and commercial EVs due to continued expansion of charging infrastructure, decreasing battery costs, and inclination towards sustainable mode of transportation. Electric vehicle infotainment systems enhance passenger comfort and driver productivity, offering entertainment, connectivity, and navigation features crucial for the overall user experience in both passenger and commercial electric vehicles. For instance, in July 2023, according to the Internal Energy Agency, a France-based autonomous intergovernmental organization, over 2.3 million electric cars were sold in the first quarter of that year, a 25% increase from the same period last year. By the end of 2023, EV sales are expected to reach 14 million, representing a 35% year-on-year increase. Therefore, the increasing consumer adoption of passenger and commercial electric vehicles is driving the growth of the electric vehicle infotainment market.
Market Trends –
Major companies operating in the electric vehicle infotainment market are focused on developing new technological and advanced solutions, such as human-machine interface infotainment, to increase their profitability in the market. Human-machine interface infotainment refers to the integrated system in an electric vehicle that allows users (drivers and passengers) to interact with and control various multimedia, entertainment, and information features. For instance, in January 2021, LG Electronics Inc., a South Korea-based consumer electronics company, launched an in-vehicle infotainment (IVI) system in the Mercedes-Benz EQS EV sedan. The system features a Pillar to Pillar (P2P) display built into the MBUX (Mercedes-Benz User Experience) Hyperscreen and stretches across the entire width of the dashboard, providing a seamless and intuitive user experience. This IVI system, with its unique interior concept and revolutionary human-machine interface, is a central feature in the new luxury electric sedan, highlighting futuristic trends in electric vehicle design and pointing to an exciting vision for future mobility.
The electric vehicle infotainment market covered in this report is segmented –
1) By System Type: Multimedia, Heads-up Display, Navigation Unit, Communication Unit, Rear Seat Entertainment
2) By Connectivity Type: Bluetooth, Cellular, Wireless, Wired Connectivity
3) By End-Use: Battery Electric Vehicle, Hybrid Electric Vehicle
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Regional Insights –
Europe was the largest region in the electric vehicle infotainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle infotainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electric vehicle infotainment market are Ford Motor Company, General Motors, Tesla Inc., Audi AG, Panasonic Holdings Corporation, Denso Corporation, Continental AG, Hyundai Kefico, Aisin Corporation, Toshiba Corporation, Pioneer Corporation, Toyota Industries Corporation, Valeo SA, Infineon Technologies AG, Renesas Electronics, HARMAN International, Microchip Technology, Garmin Ltd., JVCKENWOOD Corporation, Clarion Technologies, ALPINE ELECTRONICS Inc., Airbiquity Inc., Hangzhou Tiecheng Information Technology
Table of Contents
1. Executive Summary
2. Electric Vehicle Infotainment Market Characteristics
3. Electric Vehicle Infotainment Market Trends And Strategies
4. Electric Vehicle Infotainment Market – Macro Economic Scenario
5. Global Electric Vehicle Infotainment Market Size and Growth
….
32. Global Electric Vehicle Infotainment Market Competitive Benchmarking
33. Global Electric Vehicle Infotainment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electric Vehicle Infotainment Market
35. Electric Vehicle Infotainment Market Future Outlook and Potential Analysis
36. Appendix
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