The onset of COVID-19 and subsequent economic fallout have negatively impacted demand for second-hand vehicles and in-car entertainment upgrades. Romanians have been unable to travel since the onset of the global health crisis leading to a decline in demand for in-car entertainment.
Developments in the automobile industry in Romania offer little room for development of in-car entertainment. Most new automobiles come with in-car entertainment devices integrated as standard or as optional built-in extras, thus diminishing the need for new purchases.
The competitive landscape of in-car entertainment remains fairly fragmented, with numerous large and small local and international brands, as well as some private label options, present in the category. However, rising consumer knowledge of products and features has underpinned a shift to global and higher-end brands.
As the economic fallout of COVID-19 ebbs and travel, work, social and other restrictions ease, disposable incomes are set to rise, after a dip in 2020. As a result, pre-lockdown trends are likely to regain momentum in the forecast period.
In-car speakers is expected to be the best performing category over the forecast period. Sales will be stimulated by consumers unable to afford to purchase a new car but who will prefer to invest in the one they already have.
New product developments are also set to focus on connectivity, especially as consumers want to connect to smartphones in their vehicles. All new product developments are focused on improving the in-car experience of drivers and passengers.
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This report originates from Passport, our In-Car Entertainment research and analysis database.
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