Retail current value sales of in-car entertainment will continue their long-term decline during 2021. As an extremely densely populated city state with excellent public transport, relatively few households own a car in Singapore.
Retail current value sales of in-car speakers and in-dash media players are also in decline – albeit at a much slower rate than in-car navigation. Demand for in-car speakers is supported by audiophiles with a preference for high quality sound.
Dominant in in-dash media players and ranking third in in-car speakers, Pioneer Electronics Asia Centre Pte Ltd strengthened its retail value share in in-car entertainment throughout the forecast period, with this trend set to continue into 2021. With a wide range of products that offer wireless connectivity, capacitive touch screens, large screen displays, built-in navigation, music apps and Apple CarPlay and Android Auto compatibility, Pioneer is the first choice for many local consumers seeking a high-quality in-car audio experience.
Retail current value sales of in-car entertainment will continue to decline over the course of the forecast period – albeit at a somewhat slower rate than in 2021. The rate of car ownership in Singapore is likely to continue to decline over the course of the forecast period.
The rate of decline in retail current value sales of in-car navigation is likely to accelerate over the course of the forecast period. Apart from declining car ownership, the advent of 5G networks is likely to make smartphones an even more attractive alternative to dedicated in-car navigation systems for many local consumers.
Even though retail current value sales of in-dash media players and in-car speakers will continue to decline during the forecast period, demand for these products will be more robust than for in-car navigation. Audiophiles prepared to pay a premium for improved sound quality will increasingly be the dominant source of demand for these products.
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This report originates from Passport, our In-Car Entertainment research and analysis database.
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