(MENAFN - GlobeNewsWire - Nasdaq) Pune, India, Feb. 19, 2021 (GLOBE NEWSWIRE) According to the report, Automotive Infotainment market size is projected to reach USD 20.05 Billion by 2027. Automotive Infotainment Market was worth USD 11.94 billion in 2018 and will exhibit a CAGR of 6.8% during the forecast period. Enhancement in Navigation Systems to Boost Market.
The rising shift towards enhanced in-vehicle experience will augment the healthy growth of the automotive infotainment market revenue during the forecast period. The efforts of automotive manufacturers for adding new features and infotainment solutions to provide ease and comfort in driving will boost the automotive infotainment market growth in the forthcoming years. In addition, the rising integration of V2X connectivity solutions, ADAS systems, telematics devices, sensors, and others in automotive will have a positive impact on the automotive infotainment market share in the foreseeable future.
Automotive Infotainment Market to Reach USD 20 05 Billion at 6 8% CAGR by 2026; Rising Demand for Improved In-Vehicle Experience to Propel Growth, states Fortune Business Insights™
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The Global Automotive Hydraulics System Market is projected to grow at a CAGR of over 6% during 2022-2026. The major drivers contributing to the growing demand of market include increasing sales of OTR vehicles and growing vehicle production. Moreover, growing technological advancements in electro-hydraulic automotive applications can create opportunities for automotive hydraulics system manufacturers which is positively impacting the growth of the market.
In terms of regional analysis, Asia Pacific is expected to dominate the market during the forecast followed by North America region due to increasing vehicle production and government mandates regarding the active and passive safety of vehicles. Furthermore, increasing investment in construction activities is projected to drive the growth in this region.
Primary (field) Research and Secondary (desk) Research Analysis
Statistical Analysis
Regional Outlook
Geographically, the Automotive Navigation Solutions market is segmented into North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). North America is projected to be the leading regional market for this research in 2021. In addition, growing adoption of advanced technologies, government funding and initiatives for R & D is also expected to propel the growth of the market in the region.
Europe Automotive Navigation Solutions is expected to be the second prominent market due to the availability of advanced treatment facilities, increasing healthcare expenditure, and initiatives from the governments in various healthcare reforms. The Asia Pacific and Middle East and Africa region are expected to witness lucrative growth.
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The Global Electric Power Steering Market is expected to grow at a CAGR of over 6%, in value terms. The major growth drivers for the market are the growing technological advancements, increasing vehicle sales & production and measures taken by OEMs worldwide to reduce the weight of the vehicle. Increasing number of government norms and mandates related to fuel-efficient technologies is positively impacting the growth of the market.
The Global Electric Power Steering Market can be segregated based on type, component, vehicle type and mechanism. In terms of regional analysis, APAC is projected to lead the electric power steering market during the forecast period due to growing vehicle production and highest fleet size in countries like China, India, etc. However, the North American and European electric power steering markets are expected to grow at a steady pace during the forecast period.
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