Global Automotive TV Tuner Market to be Propelled by Rising Demand of Luxury Cars, Customer Growing Need for Vehicle Infotainment System and Higher Adoption of Electric Cars by CAGR of 2.7% During 2022 â€“ 2031
Kenneth Research published a report titled “Automotive TV Tuner Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global automotive TV tuner market in terms of market segmentation by vehicle type, platform, sales channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global automotive TV tuner market is to grow at a CAGR of 2.7% over the forecast period, i.e., 2022-2031. By vehicle type, market is segmented into passenger car, light commercial vehicle and heavy commercial vehicle. Among all, the passenger car segment is to grow at CAGR of 2.8% over the forecast period and is anticipated to be valued at USD 121.8 million by the end of 2031. The segment garnered a revenue of USD 92.6 million in 2021. Increased demand of electric and luxury vehicle among the population is to drive the growth of passenger car segment.
The global automotive TV tuner market is to grow on the account of higher popularity of vehicle infotainment system, luxury cars & electric vehicle and innovation of technology of TV tuner. The market is to garner a revenue of USD 145.5 million by the end of 2031. Moreover, the global automotive TV tuner market collected a revenue of USD 111.2 million in the year 2021.
From geographical point of view, market is analyzed in to five regions, North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The Asia Pacific’s automotive TV tuner market is expected to grow at a CAGR of 2.5% over the forecasted period. The market in Asia Pacific is to generate the revenue of USD 56.5 million by the end of 2031. The market in Asia Pacific garnered the revenue of USD 44 million in 2021. People’s increased demand of luxury cars and electric vehicles is to propel the growth of the automotive TV tuner market in Asia Pacific region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, restriction by government on manufacturing of semiconductor, high cost of engine’s upgradation and lack of expert workers are few factors which are expected to operate as key restraint to the growth of the global automotive TV tuner market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive TV tuner market which includes company profiling of Maxim Integrated, TE Connectivity, PIONEER ELECTRONIC ASIACENTRE PTE. LTD., Clarion, Socionext Inc., Fujitsu Limited, Skyworks Solutions, Inc., Microtune Inc., Sony Group Corporation and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive TV tuner market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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