As was seen during most of the review period, in-car entertainment is expected to see a further retail volume decline in 2020, and it will remain one of the smallest categories within consumer electronics. COVID-19 is not expected to have a significant impact on the rate of decline in 2020, which is expected to see a similar performance to the previous year.
In-dash media players is expected to remain the largest category within in-car entertainment in 2020, and is set to be the only category to see volume growth. These products are becoming increasingly focused on providing smartphone connectivity and multifunctionality, with some devices now able to play music, show films and provide in-car navigation.
Whilst some Mexican manufacturers, such as Steren, have a presence in in-car entertainment, the category is expected to remain dominated by international brands in volume terms in 2020. Within in-car navigation Garmin is set to maintain its dominance, with TomTom and Mio following at a long distance and being its only serious competitors.
In-car entertainment is expected to maintain its declining retail volume trend throughout the forecast period, although the rate of decline is expected to slow over this period. As in the review period, in-car navigation is set to drag down the sales of the overall category, seeing the strongest retail volume decline and a similar negative CAGR to that seen in the review period.
It is the high and rising penetration rate of smartphones in Mexico which is set to hamper the growth of in-car navigation and in-car speakers in the forecast period. Most people now have a smartphone, which can perform the functions of a navigation device and play music, and they are therefore not likely to see the need to spend on additional devices.
One of the ways in which players tend to try to maintain their sales and growth is through new product launches and upgrades to respond to consumer needs and challenges in the market. For instance, Garmin, the leader within in-car navigation, has responded to substitutes such as smartphones by including more functions in its products.
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This report originates from Passport, our In-Car Entertainment research and analysis database.
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