Automotive Rear Seat Infotainment Market Growth Analysis
The automotive rear seat infotainment market
size is predicted to grow at a 12.5% CAGR in the forecast period (2032- 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.
Get Free Sample Report of Automotive Rear Seat
Infotainment Market
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.
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.
Automotive Rear Seat Infotainment Market Segmentation
·
The automotive rear seat
infotainment market 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.
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
Eminent players profiled in the
global automotive
rear seat infotainment industry report include Pioneer Electronics (US), Alpine
Electronics, Inc. (Japan), Delphi Automotive PLC (UK), Continental AG
(Germany), Harman International (US), Panasonic Corporation (Japan), Denso
Corporation (Japan), Garmin Ltd (Switzerland),
KENWOOD Corporation (Japan), VOXX
Electronics Corp. (US), and 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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