Research Nester published a report titled “Automotive Infotainment SoCs Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global automotive infotainment SoCs market in terms of market segmentation by technology, vehicle type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global automotive infotainment SoCs market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of vehicle type into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. Out of these, the passenger cars segment is anticipated to hold the notable share over the forecast period on account of increasing sales of passenger vehicles, along with rising disposable income, and purchasing potential of the middle class.
The global automotive infotainment SoCs market is estimated to grow on the back of increasing demand for semi-autonomous or luxury vehicles, which have a proper infotainment system. Moreover, adoption and implementation of advanced technology amongst vehicle manufacturers, is further estimated to boost the growth of the market. Along with this, increasing sale of cars globally, supported by the higher individual disposable income of the middle class, is further projected to fuel the market growth.
On the basis of geographical analysis, the global automotive infotainment SoCs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to hold the largest market share by the end of 2022, on the back of the increasing demand for self-driving cars, coupled with the growing sales of cars, and electric vehicles in the region. Moreover, the adoption of advanced technologies by car manufacturers is also projected to fuel the regional market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Total Car Sales likely to boost the Market Growth
According to the data by the International Energy Agency (IEA), in 2019, the total car sales reached 25 million cars in China, while 17 million cars were sold in the United States.
Presently, infotainment systems are a major part of almost every high-end vehicle, especially, passenger cars. The growing demand for cars, backed by the growing income of middle class, loan and EMI policies, and increasing disposable income, are anticipated to boost the market growth. In addition to this, automobile manufacturers are investing in advanced technologies, such as, self-driving, audio and video via wireless, connected gateway, ADAS systems, and others, which is also a major growth driver for the market.
However, high maintenance cost of infotainment SoCs is expected to operate as key restraint to the growth of global automotive infotainment SoCs market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive infotainment SoCs market which includes company profiling of Pioneer Corporation, Robert Bosch GmbH, BorgWarner Inc., Continental AG, Mitsubishi Electric Corporation, Tomtom International B.V., Panasonic Corporation, Accenture PLC, and Garmin Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive infotainment SoCs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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