Electric Vehicle Infotainment Global Market Report 2024

The electric vehicle infotainment market size has grown exponentially in recent years. It will grow from $1.62 billion in 2023 to $2.22 billion in 2024 at a compound annual growth rate (CAGR) of 36.4%. The growth observed in the historic period can be attributed to several factors, including the proliferation of larger screen sizes, the rising adoption of wireless connectivity, urbanization trends, and the implementation of stringent safety regulations.

The electric vehicle infotainment market size is expected to see exponential growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 32.9%. Anticipated growth in the forecast period can be attributed to various factors such as the rise of content streaming, the integration of head-up displays, augmented reality advancements, expansion of ecosystems, the emergence of in-car health and wellness features, and the progression towards autonomous driving technologies. Major trends expected during this period include the integration of charging infrastructure directly into vehicles, the establishment of battery swapping stations, implementation of smart charging solutions, adoption of wireless charging technology, and the proliferation of ultra-fast charging stations.

The electric vehicle infotainment market is poised for growth due to increasing consumer adoption of both passenger and commercial electric vehicles. Factors driving this adoption include the expanding charging infrastructure, declining battery costs, and a shift towards sustainable transportation. Electric vehicle infotainment systems, offering entertainment, connectivity, and navigation features, play a crucial role in enhancing user experience in both passenger and commercial electric vehicles. According to the International Energy Agency, over 2.3 million electric cars were sold in the first quarter of 2023, representing a 25% increase from the previous year. With EV sales expected to reach 14 million by the end of 2023, a 35% year-on-year increase, the growth of consumer adoption is fueling demand for electric vehicle infotainment systems.

In the electric vehicle infotainment market, major companies are focusing on developing innovative solutions to increase market share and profitability. One such advancement is the human-machine interface infotainment, which integrates various multimedia, entertainment, and information features in electric vehicles. For example, in January 2021, LG Electronics Inc. introduced an in-vehicle infotainment (IVI) system for the Mercedes-Benz EQS EV sedan. Featuring a Pillar to Pillar (P2P) display integrated into the MBUX Hyperscreen, this system provides a seamless and intuitive user experience, setting new standards for electric vehicle infotainment. Such technological advancements highlight the evolving trends in electric vehicle design and offer a glimpse into the future of mobility.

In August 2022, Advanced Micro Devices Inc. (AMD) partnered with ECARX to develop a cutting-edge digital cockpit in-vehicle computing platform for next-generation electric vehicles. This collaboration aims to deliver an innovative in-car experience, incorporating advanced features such as driver information mode, heads-up display, rear seat entertainment, multi-zone voice recognition, high-end gaming, and full 3D user experience. ECARX, known for its expertise in developing advanced infotainment solutions, brings valuable insights to the partnership, catering specifically to the needs of electric vehicles. This collaboration signifies the industry's commitment to pushing technological boundaries and enhancing the overall driving experience in electric vehicles.

Major companies operating in the electric vehicle infotainment market are Ford Motor Company, General Motors, Tesla Inc., Audi AG, Panasonic Holdings Corporation, Denso Corporation, Continental AG, Hundai Kefico, Aisin Corporation, Toshiba Corporation, Pioneer Corporation, Toyota Industries Corporation, Valeo SA, Infineon Technologies AG, Renesas Electronics, HARMAN International, Microchip Technology, Garmin Ltd., JVCKENWOOD Corporation, Clarion Technologies, ALPINE ELECTRONICS Inc., Airbiquity Inc., Hangzhou Tiecheng Information Technology.

Europe was the largest region in the electric vehicle infotainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle infotainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric vehicle infotainment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electric vehicle infotainment encompasses the integrated entertainment, information, and communication system embedded within electric vehicles. Its purpose is to provide entertainment and convenience features alongside essential vehicle operation information and controls. These systems often incorporate energy management tools and efficiency displays tailored for electric vehicle usage, aiding drivers in optimizing their EV usage and range.

The primary types of electric vehicle infotainment systems include multimedia, heads-up displays, navigation units, communication units, and rear-seat entertainment. Multimedia systems amalgamate various forms of media - including text, audio, video, graphics, and animation - into a unified digital presentation or application. Equipped with connectivity options such as Bluetooth, cellular, wireless, and wired connections, these systems cater to diverse end-users, including battery electric vehicles and hybrid electric vehicles.

The electric vehicle infotainment market research report is one of a series of new reports that provides electric vehicle infotainment market statistics, including electric vehicle infotainment industry global market size, regional shares, competitors with a electric vehicle infotainment market share, detailed electric vehicle infotainment market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle infotainment industry. This electric vehicle infotainment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric vehicle infotainment market consists of revenues earned by entities by providing services such as audio controls, biometric authentication, personalized user profiles, and augmented reality navigation. The market value includes the value of related goods sold by the service provider or included within the service offering. The electric vehicle infotainment market also includes sales of display screens, navigation systems, and audio systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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