The global electric vehicle infotainment market is anticipated to reach USD 225.0 billion by the end 2025, according to a new report released by Million Insights. Rising popularity of rear seat infotainment systems coupled with rising awareness for safe driving among the users are the factors anticipated to propel the growth of the market. Moreover, rising adoption of electric vehicles of small to medium size has boosted the overall demand for infotainment systems over the forecast period.
In 2016, the segment of multimedia infotainment systems held the largest revenue share. Moreover, heads-up display infotainment system is gaining traction among the users owing to its function of displaying vehicle related information such as fuel level and vehicle speed. However, high cost of maintenance and installation of rear seat infotainment system are the major reasons behind slower adoption of such systems.
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The segment of wireless connectivity systems held a market share of more than 38% in 2016 owing to its wide application in passenger cars segment. Moreover, the cellular connectivity segment is projected to attain a CAGR of 69.7% over the forecast period. However, the wired connectivity segment is anticipated to register a slow growth from 2017 to 2025 owing to rising adoption of wireless infotainment systems. Moreover, wireless systems provide high speed data transfer which is one of the key feature expected to further drive the segment’s growth.
The passenger cars end-user segment is anticipated to witness a downfall in its growth rate. This is associated with rising popularity of heavy duty commercial electric vehicles. The segment of commercial electric vehicle infotainment is projected to register the fastest CAGR of more than 71% over the forecast period, 2017 to 2025.
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Further key findings from the report suggest:
• In 2016, the global electric vehicle infotainment market accounted for the revenue of more than USD 2.4 billion and it is anticipated to grow at a CAGR of 69.0% over the forecast period
• In 2016, the segment of heads-up display infotainment system and rear seat entertainment system dominated the global EV infotainment market and are expected to attain an exponential growth from 2017 to 2025
• Latin America is anticipated to grow significantly from 2017 to 2025 due to rising adoption of various emerging technologies across the automotive sector in this region. The market for EV infotainment in Latin America is projected to attain A CAGR of 77.8% over the forecast period.
• Leading players in this industry are Aisin Seiki Co., Ltd., Continental AG, Panasonic corporations, Audi AG, General Motors Corp, Harman International Industries Inc. Clarion Corporation of America, JVC KENWOOD, and Garmin Ltd.
Million Insights has segmented the global electric vehicles infotainment market based on system type, connectivity type, end-user and region:
System Type Outlook (Revenue, USD Million, 2015 – 2025)
• Multimedia System
• Heads-Up System
• Navigation System
• Driver Safety and Communication System
• Rear Seat Entertainment System
Connectivity Type Outlook (Revenue, USD Million, 2015 – 2025)
• Wired Connectivity
End User Outlook (Revenue, USD Million, 2015 – 2025)
• Passenger Cars
• Commercial Vehicles
Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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