Augmented Reality Applications is Fastest Growing Segment Fueling the Growth of In-Vehicle Infotainment Market

 The global In-Vehicle Infotainment Market is estimated to be valued at US$ 24.85 Bn in 2023 and is expected to exhibit a CAGR of 10.8 %over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The in-vehicle infotainment market comprises systems installed in vehicles that combines entertainment and information content which includes audio/video playback, navigation, gesture recognition, and augmented reality. It enhances the driving experience by providing passenger comfort and ease through the integration of connectivity options.

Market key trends:
One of the key trends fuelling the growth of the in-vehicle infotainment market is integration of augmented reality applications. Augmented reality overlays useful digital information in the user's field of view in the car. Major automakers are partnering with technology companies to integrate AR applications that can display turn-by-turn navigation cues and other vehicle information directly onto the windshield. For example, BMW is integrating augmented reality head-up displays to project speed limits, traffic signs and navigation directions onto the windshield. AR integration enhances situational awareness and provides convenience to drivers without requiring them to look away from the road. This is driving investments and adoption of advanced in-vehicle infotainment systems with AR capabilities.

Segment Analysis
The in-vehicle infotainment market is dominated by the connectivity solutions segment. This segment accounted for over 30% of the total market share in 2023 owing to the rising demand for internet connectivity in vehicles. The growing adoption of advanced telematics devices offering features like vehicle diagnostics, navigation, and real-time traffic updates is also driving the segment's growth.

Key Takeaways
The Global In-Vehicle Infotainment Market Size is expected to witness high growth, exhibiting a CAGR of 10.8 %over the forecast period, due to increasing consumer demand for advanced connectivity and infotainment features in vehicles.

Regional analysis
North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to high vehicle sales and rapid adoption of advanced technologies in the US and Canada. Asia Pacific is anticipated to be the fastest growing region owing to increasing disposable income, rising vehicular production in countries like China and India.

Key players
Key players operating in the in-vehicle infotainment market are Panasonic Corp Denso, Harman International, Tom-Tom, Continental AG, Bosch, Blaupunkt Inc., Magneti Marelli, Alpine Electronics Inc., Kenwood, Delphi, Visteon, Clarion Corp., Bose, Pioneer, and Aisin.

 

Read more:  https://www.ukwebwire.com/in-vehicle-infotainment-market-size-analysis/

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