The analysts forecast the global aftermarket for touchscreen infotainment system to grow at a CAGR of 2.16% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global aftermarket for touchscreen infotainment system for 2016-2020. To calculate the market size, the report presents the major drivers that influence the growth of the global aftermarket for touchscreen infotainment system.
One of latest trends in the market is growing dependence on upgraded infotainment systems. There is a growing trend of spending more on traveling. Increased disposable income, growing aspiration for traveling among millennials, technological advancements, and increased spending of time on social media have increased the propensity of individuals to spend more on traveling. Individuals spend a good portion of their savings on traveling and consider it to be an important part of life. Traveling by a car using a GPS system makes it much simpler. Car navigation systems allow the drivers to locate their destination easily.
According to the report, one of the primary drivers in the market is increasing predisposition toward smartphone integration. Smartphones have become one of the most widely used technologically advanced devices in the world, and their dominance will increase in the coming years. Consumers want all their devices to be connected with their smartphones to remain connected. Smartphones can easily be integrated and are compatible with the touchscreen infotainment system. Touchscreen systems provide the platform for smartphone integration.
Further, the report states that one major challenge in the market is increase in OEM fitments. There has been an increase in the fitment of touchscreen infotainment system by OEMs. From 2016 onward, there will be a growing trend of replacing dual-DIN non-touch screen systems with touchscreen infotainment systems. More vehicles even in entry-level variants will be equipped with touchscreen infotainment system fitted by OEMs. As a result, increase in OEM fitment will pose a big challenge to the aftermarket touchscreen infotainment system suppliers.
Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?