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Forecast On In-Car Entertainment System Market: Asia Pacific Industry Analysis and Trends till 2020 by Future Market Insights

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In-car entertainment (ICE) systems are the set of hardware devices and software (installed within the car unit). They are used for entertainment and information purpose like navigation, music and communication. These products offer the passenger wit
Asia Pacific In-Car
Entertainment
System Market
Share, Trends, Analysis,
Research, Report,
Opportunities,
Segmentation and Forecast,
2014
Future Market Insights
www.futuremarketinsights.com
[email protected]
Report
Description
Report Description
In-car entertainment (ICE) systems are the set of hardware devices and software
(installed within the car unit). They are used for entertainment and information purpose
like navigation, music and communication. These products offer the passenger with
enhanced experience and greater comfort while driving the car. These products are
gaining more popularity worldwide among customers and original equipment
manufacturers (OEMs) of cars. In-car entertainment includes various systems like audio
system, internet radio, DVD player, rear seat gaming system, etc. These devices provide a
better connectivity, more comfort and increased safety to driver and passengers, and
these are the most important factors for customers while purchasing a new car.
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The global in-car system market is expected to grow two fold from 2014 to 2020. The
market is driven by three major factors, rise in passenger car market across the globe,
growing transportation & communication infrastructure and increasing awareness about
sophisticated features of in-car entertainment systems. These factors collectively are
expected to drive the growth in the global market over the next six years. Emerging
economies such as Asia, Eastern Europe and Latin America are expected to offer
promising growth when compared with North America. In terms of revenue, Asia-Pacific
(APAC) was the major contributor followed by North America, Europe and Rest of World
(RoW) respectively in financial year 2013.
APAC is expected to maintain its dominance in global in-car entertainment system market
due to presence of major car manufacturer such as Hyundai, Ford, Volkswagen and
Report
Description
Report Description
Growing consumer electronics market in China and India are the major markets for in-car
entertainment systems. However, the market for in-car entertainment system is expected
to grow at a low growth rate in Japan and South Korea, due to maturity in automotive
industry in these countries. For the year 2014-2020, China is expected to exhibit highest
CAGR followed by India, due to rise in penetration rate of passenger vehicles, rise in per
capita income and increasing demand for in-car entertainment system.
The in-car entertainment system market is broadly segmented on the basis of product
type and channel type. Product type segment is further segmented into audio players,
video display screen, navigation unit, accessories, rear seat entertainments, speakers, etc.
In the APAC ICE market, audio players segment is the major contributor in terms of value,
followed by video display unit, speakers, navigation units and others. In terms of channel
the market is classified into two segments which are OEMs and aftermarket. The
contribution from aftermarket is largest in the market.The penetration rate of in-car
entertainment systems through OEMs is more in premium and luxury cars. In terms of
value and volume, aftermarket segment has highest contribution in mid-range cars.
Key participants in the APAC in-car entertainment systems market focus on research and
development activities in order to introduce advanced and cost-effective product with up
graded technology and features for end-users. Some of the major players in the APAC incar entertainment systems market include Panasonic Corporation, Delphi Automotive
PLC, Alpine ElectronicsInc., Denso Corporation, Harman International Industries, Pioneer
Corporation, JVC KENWOOD Corp. and Robert Bosch GmbH.
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Some of the key players in services are Aha-Harman and MeeGo. The key software
(platform) vendors for in-car entertainment systems are Intel Corporation, Luxoft Holding
and Nuance Communications.
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The demand for in-car entertainment systems is expected to grow exponentially in APAC
region. Smart technology devices have become essential part of consumers’ life-style in
recent years, some of the major features of in-car entertainment systems are better
connectivity, better user experience, hands-free operation and variety of entertainment
options. Manufacturers of in-car systems are coming up with upgraded technologies like
smartphone connectivity, internet-enabled features, multiple USB port, Bluetooth
interface, wireless connectivity, mobile phone application compatibility and better ability
to play high definition audio and video. This frequent technological development is
expected to add value and spur the demand of in-car entertainment system in APAC.
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Ethansmith
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