5th September 2019 – Global Electric
Vehicle (EV) Infotainment Market size is expected to reach USD 225.0
billion by 2025. An electric vehicle uses electric motors or traction motors
for propulsion using electric energy from batteries. The EV infotainment system
is itself integrated in an electric vehicles’ information system with public
transport networks to provide a unique user experience to the driver. This
infotainment system connects the electric vehicle to charging station networks
and provides improved geo-positioning services such as route mapping, traffic
monitoring, and location detection functions. The electric vehicle infotainment
market size is expected to grow at a CAGR of 69.0% over the forecast period as
the scope, product types, and its applications are increasing across the world.
The rising demand for in-car
infotainment systems, growing acceptance of small & medium sized EVs, and
growing demand for head-up & rear seat entertainment systems in EVs are
factors that may boost overall market in the years to come. Increasing demand
for GPS navigation enabled infotainment system, rising demand for smartphone
integration with in-vehicle infotainment (IVI) system, growing urban
population, and booming automobile industry are the major factors driving the
growth of EV infotainment market in the forecast period. However, high
maintenance & installation cost of the rear seat entertainment system is
expected to restrain the EV infotainment industry in the forecast period. The
electric vehicle (EV) infotainment market is categorized based on system type,
connectivity type, end user, and geography.
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System types that could be explored in
EV infotainment market include heads-up system, multimedia system, navigation
system, rear seat entertainment system, driver information & communication system,
and others. The “heads-up display” system accounted for USD 0.16 billion in
2016 and is expected to grow at a CAGR of 75% over the forecast period. This is
due to assets such as actual time projection of data on windshield, decreased
driver aberration and low cost. However, the “multimedia system” is expected to
hold the largest market share in the coming years due to increasing extensive
usage of smartphones in EVs.
End users such as passenger cars and
commercial vehicles could be explored in EV infotainment market in the coming
years. Commercial EV infotainment is anticipated to grow at a CAGR of 71.0% in
the forecast period due to increasing demand for heavy duty commercial electric
vehicle. The market is categorized based on connectivity type such as
bluetooth, wireless, wired connectivity, and cellular. The “wireless
connectivity” infotainment system accounted for over 38% market share in 2016
and is anticipated to grow at a significant CAGR during the forecast period.
This growth may be attributed to the wireless connectivity is much faster &
reliable, which transfers data at a high speed.
Asia Pacific dominated the market at USD
1.03 billion in 2016 and is expected to grow at the highest CAGR in the
forecast period. The regional growth may be attributed to the presence of key
players, better infrastructure facilities for manufacturing EV infotainment
system, availability of cheaper labor, increasing sale of automobiles, good
economic condition, and increasing urban population. Latin America is the
second major shareholder of global market and is followed by North America
region.
The key players operating in the
electric vehicle (EV) infotainment market are Continental AG, Audi AG,
Panasonic Corporation, General Motors Corporation, Aisin Seiki Co. Ltd.,
Pioneer Corporation, JVC Kenwood, Alpine Electronics Inc., Denso Corporation,
Delphi Automotive Plc., Garmin Ltd., Continental AG, Clarion Corporation of
America, Aisin Seiki Co. Ltd., Harman International Industries Inc., and
Clarion Corporation of America. These market players strongly invest in the
expansion of their business and development to maintain a top position in the
market. Also, these players concentrating on new joint ventures,
collaborations, agreements, and strategies to improve their production
facilities and gain a larger share in the market.
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