Demand for in-vehicle infotainment system has been on a steady rise for quite a few years, and now core as well as non-core companies have come up with strategies to meet this rising numbers. Harman International Inc, a subsidiary of Samsung with the focus on connected technologies for the automotive, recently announced in a press release of their new contracts with Great Wall Motors, GAC Group and SAIC-GM-Wuling Motors for expanded connected car and in-car audio business in China. Since infotainment is one the fastest growing segment in the automotive industry, and China is set to witness a boom in the automotive market in the coming years, Harman International has grabbed this opportunity to make a mark in the upcoming market.
The number of passenger cars is going to surge in the future, hence, market players are not leaving any leaf unturned to expand their business globally and to stifle the new entrants in the market. In another press release, Panasonic Automotive Systems Company of America announced the “introduction of the Panasonic Cognitive Infotainment platform designed to provide OEMs and fleet providers a set of cognitive vehicle solutions combining Panasonic's market leading infotainment expertise with IBM's Watson and cloud technologies.” The companies are launching new products and technologies in the market to stay a step ahead in the game. With this collaboration with IBM, Panasonic has launched new technological feature into the infotainment system. According to Panasonic, “The platform leverages Watson cognitive capabilities, including deep natural language processing and understanding, to answer questions and provide recommendations as well as directions while en route. The platform also introduces e-commerce capabilities for convenient in-vehicle purchases to make the most of a driver's time, as well as possible future cognitive driving solutions that monitor the vehicle condition for safer driving.”
The infotainment market has been gaining momentum due to the spreading awareness about road safety and, an increase in the number of passengers and their demand for more sophisticated infotainment system. Acknowledging this dynamic transformation in the market and a paradigm shift in the preferences of the consumers, BIS Automotive has compiled a report, titled ‘Global In-Vehicle Infotainment Market, Analysis & Forecast, 2017 – 2022’, which includes a detailed analysis of the global in-vehicle infotainment market with various segments including market dynamics, market breakdown by vehicle type, by distribution channel (OEM & aftermarket), by device type, by technology type and by geography.
According to the analyst at BIS Research, “The global in-vehicle infotainment market was worth $33.78 billion in the FY2016 and is expected to grow at a high rate during the forecast period of 2016-2022. Developed countries currently have a higher penetration rate of infotainment systems and services whereas emerging economies hold the largest potential in terms of market growth.”
The study is a comprehensive analysis of key driving and restraining forces in the market, also including a study of market trends and development. Additional information is provided on the competitive landscape of the market including business contracts, product launches, acquisitions, and partnerships among other strategies which help in providing a clear picture of the current scenario as well as future potential for the market. The companies which are key players in the market are Panasonic Corporation, Alpine Electronics Inc., Continental AG, Clarion Co., Ltd., Denso Corporation, Robert Bosch GmbH, Delphi Automotive PLC, JVC Kenwood, etc.