Market Segmentation by Vehicle Type (Passenger Cars, Commercial Vehicles) in the Automotive Rear Seat Infotainment Market
Automotive Rear Seat Infotainment Market Analysis
The automotive rear seat infotainment market size is predicted to grow at a 12.50% CAGR in the forecast period (2023- 2032), as per the latest Market Research Future (MRFR) report.
Drivers
Rapid Innovations in Automobile Industry to Boost Market Growth
The rapid innovations in automobile industry in propulsion technology, engine structure electrification, infotainment systems, and protection devices will boost the global automotive rear seat infotainment market value over the forecast period.
Opportunities
Development in Industry 4.0 Infrastructure to offer Robust Opportunities
The development in industry 4.0 infrastructure will offer robust opportunities for the automotive rear seat infotainment market in the forecast period.
Other factors adding to the automotive rear seat infotainment market growth include increasing demand for infotainment systems in automobiles, rise of autonomous vehicles, increased consumer focus on connected and hybrid cars, growing preference towards premium features in passenger cars, the rising disposable income of the people, and increasing demand and sales of vehicles.
Restraints
Design Complexity to act as Market Restraint
The design complexity of automotive rear seat infotainments may act as market restraints over the forecast period.
Challenges
Data Security Issues to act as Market Challenge
Data security issues will act as a market challenge over the forecast period.
COVID-19 Analysis
The global automotive rear seat infotainment market has been immensely affected by the COVID-19 outbreak. Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. The COVID-19 outbreak has impacted the overall economy and the society. The impact of the crisis is going up daily and is impacting the supply chain.
The crisis is making uncertainty in the stock market, immense slowing of the supply chain, decreasing business confidence, and growing panic among customers. Owing to lockdown across the globe, there has been a fall in the demand for automobile and auto parts thus impacting the market. After the virus emerged, the sale of cars declined by about 80%. The sector has cancelled top events like the Geneva Motor Show for the fear of transmitting the infection. The manufacturing sector of China contracted owing to the outbreak of the COVID-19. In the European Union, the automotive industry is likely to observe a decline owing to reduction in spare parts and automobile exports from China. This affected the global automotive rear seat infotainment market share in the market.
Market Segmentation
The automotive rear seat infotainment market Share is bifurcated based on operating system, technology types, and end user.
By operating system, the QNX segment will lead the market over the forecast period.
By technology, the multimedia player segment will dominate the market over the forecast period.
By end user, the OEM segment will spearhead the market over the forecast period for the increasing demand for automotive entertainment units with better quality, warranty, high lifespan, and the surging need for company fitted products.
Regional Analysis
North America to Lead Automotive Rear Seat Infotainment Market
North America will lead this market in the forecast period. Rising need for passenger cars, increase in R&D by automotive rear-seat entertainment manufacturers, the US being the leading producers of industrial parts and automotive, the semiconductor companies in the United States are focusing on developing advanced automotive infotainment system & catering to the automotive aftermarket across the globe, the rising need for passenger vehicle, and the increasing number of research and development activities are adding to the global automotive rear seat infotainment market growth in the region.
Europe to Have Admirable Growth in Automotive Rear Seat Infotainment Market
Europe will have admirable growth over the forecast period. Growing research and development by key players, the presence of major market players in France and Germany, the growing investments in the development of connected and autonomous vehicles, and the increase in government regulations towards safety are adding to the global automotive rear seat infotainment market growth in the region.
Key Players
- Alpine Electronics Inc. (Japan)
- Continental AG (Germany)
- Harman International (US)
- Panasonic Corporation (Japan)
- Pioneer Electronics (US)
- Denso Corporation (Japan)
- Garmin Ltd (Switzerland)
- KENWOOD Corporation (Japan)
- Delphi Automotive PLC (UK)
- VOXX Electronics Corp. (US)
- Visteon Corporation (US)
The automotive rear seat infotainment market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
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