How Has the Electric Vehicle Infotainment Market Size Evolved in Recent Years?
The electric vehicle infotainment market has seen considerable growth due to a variety of factors.
• The market size of the electric vehicle infotainment sector has experienced a drastic upward trend in the past few years. This market is projected to increase from $2.22 billion in 2024 to $3.02 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 36.3%.
The impressive growth witnessed during the historic period can be attributed to the increase in screen size, the growing prevalence of wireless connectivity, urbanization, and safety regulations.
What are the Market Size and Expected Growth Rates for the Electric Vehicle Infotainment Market?
The electric vehicle infotainment market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the electric vehicle infotainment market is anticipated to experience rapid expansion. The market is set to increase to $9.01 billion in 2029, with a compound annual growth rate (CAGR) of 31.4%.
The surge during the forecast period can be credited to advancements such as content streaming, head-up displays, augmented reality, ecosystem expansion, in-car health and wellness, and autonomous driving. Key trends for the forecast period are predicted to be integrated charging infrastructure, battery swapping stations, smart charging solutions, wireless charging technology, and ultra-fast charging stations.
Which Key Drivers Are Propelling The Electric Vehicle Infotainment Market's Growth?
The growth of the electric vehicle infotainment market is projected to be fueled by the rising consumer uptake of personal and commercial electric cars. These electric vehicles, catering either to personal conveyance or commercial use, are gaining popularity because of the ongoing development of charging stations, falling battery prices, and a lean towards eco-friendly transport. Infotainment systems installed in electric vehicles not only augment passenger convenience, but also boost driver efficiency by providing entertainment, connectivity, and navigation components that are vital for an overall pleasant experience in both individual and commercial electric vehicles. The Internal Energy Agency, a self-sustaining intergovernmental group located in France, reported that over 2.3 million electric cars were bought in the initial quarter of 2023. This signifies an increment of 25% from the equivalent period the previous year. Electric vehicle purchases are forecasted to hit 14 million by the end of 2023, a 35% increase on an annual basis. Hence, the escalating consumer uptake of personal and commercial electric vehicles is facilitating the advancement of the electric vehicle infotainment market.
What Are The Key Segments Within The Global Electric Vehicle Infotainment Market?
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
Subsegments:
1) By Multimedia: Audio System, Video System, Voice Recognition System, Streaming Services (Music, Video Streaming), Heads-Up Display, Windshield Display, Augmented Reality Heads-Up Display, Instrument Cluster Integration, Navigation Unit, GPS-Based Navigation, Real-Time Traffic Updates, Route Planning And Optimization, Offline Navigation
2) By Communication Unit: Bluetooth Connectivity, Cellular Connectivity (4G Or 5G), Wi-Fi Connectivity, Vehicle-To-Everything (V2X) Communication, Emergency Call System (eCall)
3) By Rear Seat Entertainment: Rear Seat Screens, Interactive Touch Panels, Gaming Consoles, Streaming Devices, DVD Or Blu-Ray Player Integration
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How Are New Trends Impacting The Size Of The Electric Vehicle Infotainment Market?
Key players in the electric vehicle infotainment market, including major firms, are forming strategic alliances to boost technological advancements, enhance their services, and refine system integration with electric vehicle-specific features. The focus will be on developing in-car infotainment systems, electrical/electronics (SW&EE) engineering, software, user experience (UX), and digital services powered by the cloud. To illustrate, an India-based firm, Infosys Ltd, teamed up with a company from Sweden, Polestar Inc, in September 2024. The collaboration aims to facilitate the evolution and validation of software for electric vehicles in various fields such as infotainment systems, advanced driver assistance systems (ADAS), and telematics. The hub will aid the development of Polestar's product management strategies and customer involvement, speeding up the transition to direct-to-consumer digital services with the support of cloud-based development and data engineering. Polestar will tap into Infosys' engineering labs, design studios, and Infosys Living Labs to encourage innovation.
Who Are the Key Players In The Electric Vehicle Infotainment Market?
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
What Are The Regional Insights Into The Electric Vehicle Infotainment Market?
Europe was the largest region in the electric vehicle infotainment market in 2024. 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.
