Latest News:- In-Vehicle Computer System Market: Passenger vehicle is expected to lead the Application segment during 2024-2028

In-Vehicle Computer System Market to grow at a CAGR of 16.6% during 2024-2028

The In-Vehicle Computer System Market is expected to grow at a CAGR of 16.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2662.7 million. In the rapidly evolving automotive industry, consumers increasingly expect seamless connectivity between their mobile devices and in-vehicle computer systems. Apple's Carplay and Android Auto are prime examples of this trend, enabling users to integrate their smartphones with a vehicle's infotainment system. While these systems offer enhanced entertainment and information, they also replicate many features already available on mobile devices, such as media, navigation, internet connectivity, and social networking apps. To stay competitive, Original Equipment Manufacturers (OEMs) are forming strategic partnerships with smartphone and tablet manufacturers to deliver innovative in-vehicle products and services that cater to evolving consumer demands. 

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The Passenger vehicle subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the Passenger vehicle subsegment will lead the Application segment during 2024 and 2028 The In-Vehicle Computer System Market represents a significant growth opportunity for technology providers in the automotive industry. These systems enhance vehicle functionality and offer advanced features such as real-time traffic information, infotainment, and driver assistance. Market expansion is driven by increasing consumer demand for connected and autonomous vehicles, as well as regulatory mandates for safety and emissions reduction. Companies investing in this market can expect robust growth and competitive differentiation.

Here are the various ways based on which the market is segmented: 

• Application
  • Passenger vehicle
  • Commercial vehicle
• Geography
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish high correlation between consumer electronics and connected vehicle solutions

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The In-Vehicle Computer System (IVCS) market is experiencing significant growth due to the integration of advanced technologies such as Autonomous Driving, Electrification, and Vehicle Safety in vehicles. IVCS plays a crucial role in enabling features like ADAS (Advanced Driver-Assistance Systems), Intelligent Cruise Controls, and Video Surveillance. Automakers are investing heavily in IVCS to offer Infotainment Systems, Passenger Security Systems, and Real-time GPS with weather forecasts, traffic data, and connectivity services. The rise of Autonomous Driving and Smart Public Transit is driving the demand for IVCS in the transportation industry. Predictive vehicle maintenance alerts, fleet management, and connected commercial vehicles are some of the key applications of IVCS in the commercial vehicle sector. Data security concerns are a major challenge in the IVCS market, as sensitive information is transmitted and stored in these systems. IVCS also plays a vital role in sustainable transportation by providing emission control tests, pollution levels, and telematics data for ICE (Internal Combustion Engines) and electric vehicles. The market for IVCS is expected to grow further as the trend towards Smart Transportation and Intelligent Mobility continues to gain momentum.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Key growth drivers in this sector include the rising demand for electronic components in automobiles, fueled by the increasing sales of electric vehicles, motorcycles, and passenger cars, leading to a significant increase in the demand for electronic control units (ECUs) and other electrical components over the past decade.

The In-Vehicle Computer System Market is experiencing significant growth, fueled by the high correlation between consumer electronics and connected vehicle solutions. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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