LONDON--(BUSINESS WIRE)--The global commercial vehicle infotainment system market is projected to grow to USD 19.31 billion by 2021, at a CAGR of close to 13% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global commercial vehicle infotainment system market for 2017-2021. Based on the vehicle type, the market is divided into large commercial vehicle and heavy commercial vehicle segments.
|Commercial vehicle infotainment systems allow the driver to control audio or video sources as per his preferences from his position. The commercial vehicle segment of the automotive industry is witnessing high adoption of electronics solutions, which is directly resulting in the growth of the commercial vehicle infotainment systems market.|
Technavio’s research study segments the global commercial vehicle infotainment system market into the following regions:
Commercial vehicle infotainment system market in the Americas
“The Americas occupy a majority 48% of the global commercial vehicle infotainment systems market. Countries in the region are demanding for infotainment systems in commercial vehicles, leading to the dominance of the market segment,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
In 2015, the US and Canada were the major contributors to the commercial vehicle infotainment system market in the Americas. Factors such as the demand for commercial vehicles and volume of on-road commercial vehicles drive the demand for infotainment systems.
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Commercial vehicle infotainment system market in EMEA
The commercial vehicle infotainment system market in EMEA is projected to be worth USD 5.33 billion by 2021. Developed countries such as Germany, France, Italy, Spain, and the UK in Europe are the major revenue contributors to the market in the region. The high demand for fleet management solutions supported by the improving economic conditions in the region is driving the growth of the market segment. Continuous advances in technologies and services contribute to the dynamism of the persistently developing in-vehicle infotainment systems in EMEA.
Commercial vehicle infotainment system market in APAC
“APAC is expected to showcase a CAGR of over 17% through the forecast period, making it the fastest-growing regional segment of the market. China, Japan, and Australia are key countries responsible for the healthy growth of the market segment,” says Siddharth.
The rate of adoption of in-vehicle entertainment is expected to witness a strong growth during the forecast period owing to the growing demand from emerging markets such as India, China, Thailand, and Indonesia. Original equipment manufacturers such as Ford and GM are equipping LCVs with in-vehicle entertainment and information systems as a standard fitment.
The top vendors in the global commercial vehicle infotainment system market highlighted in the report are:
- Alpine Electronics
- HARMAN International
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