Auto infotainment systems have undergone a gradual innovation and multiple inventions and have metamorphosed from mere “music only consoles” to encompass an entire range of applications that help automobile drivers and passengers to stay connected with the surroundings outside the vehicle and with entertainment within the vehicle while on the move.
Albany, NY -- (SBWIRE) -- 10/17/2017 -- The sales value of the global auto infotainment market is estimated to be valued at US$ 20.06 Bn by the end of 2016, up 5.1% Y-o-Y. In a new report titled "Auto Infotainment Market: Global Industry Analysis and Forecast, 2016 – 2024", Persistence Market Research analyzes the factors and trends impacting the growth of the global auto infotainment market during the eight-year forecast period 2016 – 2024.
Factors such as growth of the automotive sector along with rising consumer inclination towards an entertaining driving experience, rise in compact passenger car sales, and increasing demand for vehicle customization among youngsters are factors expected to significantly impact the growth of the global auto infotainment market.
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Some of the other factors fueling the global auto infotainment market growth are increased consumer spending on luxurious items, rising awareness of safety and security in automobile functioning, and an increasing penetration of smartphones and their active role in the day-to-day life of individuals. However, drivers' distraction in handling auto infotainment systems while driving and economic crisis in certain regions leading to a subsequent fall in the sales of vehicles are factors likely to restrict growth of the global auto infotainment market during the forecast period.
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The global auto infotainment market is segmented on the basis of System Type (Entertainment System, Connectivity System, Driver Assistance System); Vehicle Type (Passenger Cars, Light Commercial Vehicle, High Commercial Vehicle); Sales Channel (OEM, Aftermarket); and Region (North America, Latin America, APAC, Europe, and Middle East & Africa). The Connectivity System type segment is anticipated to register a value CAGR of 7.0% between 2016 and 2024.
This segment is expected to account for 9.9% share of the global auto infotainment market in terms of value by the end of 2024. The Driver Assistance System is expected to account for over 23% of the total market value of the global auto infotainment market by the end of 2016 and register a value CAGR of 6.2% over the forecast period. The Passenger Cars vehicle type segment is anticipated to register a higher CAGR as compared to the Light Commercial Vehicle segment. The Aftermarket sales channel segment is estimated to account for 19.0% value share by the end of 2024.
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Among regions, APAC is expected to account for the highest share of the global auto infotainment market over the forecast period, owing to increased consumer spending on auto infotainment systems in the region. The APAC market is estimated to account for a revenue share of 26.5% of the global auto infotainment market by 2016 end, registering a Y-o-Y growth of 4.8% over 2015.
The North America auto infotainment market is expected to exhibit higher market attractiveness over the forecast period in comparison to other regional markets owing to the presence of a large number of automobile manufacturers in the region. The Middle East & Africa market is estimated to account for a market value share of 16.5% of the global auto infotainment market by the end of 2016.
The report on the global auto infotainment market profiles some of the top players operating in the global auto infotainment market. Companies featured in the report are Continental AG, DENSO Corporation, FUJITSU TEN Limited, HARMAN International, Delphi Automotive LLP, and Garmin Ltd. These players are focusing on a vertical integration of their supply chain. A common trend observed in the global auto infotainment market is that players are targeting new markets for HCVs, hybrid cars, and self-driven cars with strategic mergers and acquisitions. Companies are also focusing on diversifying their product portfolio and are moving away from single sales channels to increase market growth and profitability.
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