Artificial Intelligence
Automotive Infotainment Market worth USD 44.73 billion by 2027, registering a CAGR of 8.51% – Report by Market Research Future (MRFR)
New York, July 27, 2021 (GLOBE NEWSWIRE) — Automotive Infotainment Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Automotive Infotainment Market Research Report, Operating System and Region – Forecast till 2027” the market is projected to be worth USD 44.73 billion by 2027, registering a CAGR of 8.51% during the forecast period (2021 – 2027), The market was valued at USD 23.47 billion in 2020.
The automotive infotainment market is garnering significant traction. Factors such as the surging demand and AI evolutions integrated with infotainment systems assistant systems drive the market growth. Besides, the rising uptake of infotainment systems in high-end cars boosts the market size. With the proliferation of on-the-go entertainment channels, the automotive infotainment market value is projected to reach significant heights.
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Competitive Analysis:
List of the Key Companies Profiled in the Automotive Infotainment Market Research Report are:
- Alpine Electronics Inc. (Japan)
- Continental AG (Germany)
- Harman International (US)
- Panasonic Corporation (Japan)
- Pioneer Electronics (US)
- DENSO Corporation (Japan)
- Delphi Automotive PLC (UK)
- Garmin Ltd. (Switzerland)
- ALLGo Embedded Systems Pvt. Ltd. (India)
- KENWOOD Corporation (Japan), among others.
Highly competitive, the automotive infotainment market appears fragmented, with several well-established players forming a competitive landscape. These players incorporate approaches such as strategic partnerships, mergers & acquisitions, expansion, collaboration, and product/technology launch to gain a larger competitive share.
For instance, on July 20, 2021, Renesas Electronics Corporation, a leading supplier of advanced semiconductor solutions, announced the addition of a new system-on-chip (SoC) – R-Car Gen3e with up to 20 percent higher CPU speed for automotive infotainment, cockpit, and digital cluster systems. R-Car Gen3e series of SoCs offers a scalable lineup for entry- to mid-range automotive applications that require high-quality graphics renderings, such as in-vehicle infotainment (IVI), digital instrument cluster, and others.
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https://www.marketresearchfuture.com/reports/automotive-infotainment-market-3993
Increasing Spending on Personalized Comfort Features Boost Market
Additional factors bolstering the market growth include improved AI capabilities and social media recommendations, and extensions of voice recognition capabilities inside vehicles. Impressive machine learning capabilities have brought immense improvements in automotive infotainment systems.
Similarly, stringent government norms for automotive safety features impact the adoption trends positively. Additionally, technological advances in human-to-machine and machine-to-human integration influence the automotive infotainment market growth.
The automotive infotainment market is assessed to witness tremendous demand in the recent future due to artificial intelligence-powered systems. Automotive infotainment systems are also used to operate multiple features, including navigation control, weather & climate information, media control, control, calendar, and holiday & ticketing information, all through voice commands.
Technical Complexities Obstruct the Market Growth
Despite demonstrating vast prospects, the market still faces some underlying setbacks, such as intellectual challenges, such as difficulties in understanding bilinguals and recognizing the commands whenever drivers try to perform a hands-free action. Also, the limited integration of voice assistants with automotive infotainment systems acts as significant headwinds for the market.
The high cost of automotive infotainment systems is an additional key factor challenging the market growth. Simultaneously, the slow adoption rate of the technology and shortages of various small components required for the production hamper the market’s growth.
Advances in machine learning that enable next-generation cognitive systems to detect & sense the environment, learn independently, and initiate decisions and intelligence-based recommendations impact the market growth. Advanced automobile industries and luxury car industries worldwide provide an additional impetus to the regional market’s growth. With consumers increasingly demanding personalization and prioritizing comfort in a vehicle, the market is expected to register a high growth rate.
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COVID- 19 Impacts on the Automotive infotainment Market
The COVID- 19 pandemic severely affected the automotive infotainment industry. Pandemic-led logistics problems led to posing major challenges to industry players, such as obtaining raw components required to develop an automotive voice recognition system, attracting workforces from quarantine, and delivering end products. However, the automotive infotainment market is gradually picking up and forecasted to grow exponentially further during the assessment period.
The COVID-19 outbreak has prompted industry players to vie effective strategies to deal with the post-pandemic challenges. Industry players have used the lockdown period wisely to upgrade their systems for open-source and standard platforms for application and integration with IVI systems and smartphones. They are investing substantially to increase production and develop high-performance system technology.
Many automobile manufacturers have started integrating these systems in entry-level vehicles to broaden their customer base. Resultantly, the automotive infotainment market is estimated to demonstrate significant growth opportunities. The market would also witness many innovative product launches during 2021 and years to come.
Segmentation
The market is segmented into vehicle types, technologies, applications, and regions. The vehicle type segment is divided into passenger and commercial vehicles. The technology segment is sub-segmented into embedded and hybrid. The application segment is divided into AI and non-AI. The region segment is sub-segmented into Europe, Americas, Asia Pacific, and rest-of-the-world.
Regional Analysis
North America leads the global automotive infotainment market. Factors such as the rising demand for passenger cars and significant investments in advancing the technology drive the market growth.
Besides, the availability of a wide range of innovative infotainment products and substantial investments in the automotive industry, undergoing a massive transformation, currently influence the market rise. The US, with the strong presence of major automotive infotainment providers and high spending on automotive systems, dominates the regional market.
Segmentation of Market covered in the research:
Information By Operating System (QNX, Linux, Microsoft and others) and Region (North America, Europe, Asia–Pacific and RoW) – Forecast till 2027
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
GEEKOM releases a perfect mini PCs with dual 2.5Gbps Ethernet ports – GEEKOM GT1 MEGA
TAIPEI, Sept. 20, 2024 /PRNewswire/ — GEEKOM, a Taiwanese tech company also known as the Green Mini PC Global Leader, recently released a strong lineup of flagship mini PCs with Intel Core Ultra processors and dual Ethernet ports, making it possible for users to enjoy impeccable performance and superb networking functionalities at the same time.
One of these mini PCs is the GEEKOM GT1 Mega, which employs a beautiful aluminum chassis with plenty of I/O, including two full-function 40Gbps USB4 Type-C, six USB Type-A, 2 HDMI2.0, a 3.5mm audio jack, an SD card reader and dual Ethernet ports. The two Ethernet jacks are both of 2.5Gbps standard, which not only delivers high-speed and reliable internet connection for people’s daily computing chores, but also enables the mini PC to serve more sophisticated networking functionalities as a soft router, a virtual machines, a hardware firewall, or even a home server. Besides, dual Ethernet ports can separate internal and external network connections, providing logical and physical separation of trusted and untrusted network traffic and keeping data safe from potential cyber-attacks.
The GT1 Mega is powered by Intel’s latest and smartest Core™ Ultra processor (up to CoreTM U9-185H) and dual-channel DDR5-5600MHz RAM. Thanks to the new CPU, GPU, and NPU three tier multi-processing architecture, the mini PC is ready to harness the superpowers of Artificial Intelligence. It is compatible with more than 500 AI models across 20+ categories and supports high-performance low-power processing in a wide range of computing scenarios, which include enhancing facial features and blurring the background during video calls, removing the vocals from songs to create karaoke tracks, and generating large-scale images based on texts or voice commands. Basically, the GT1 Mega allows users to finish tasks that used to take hours or even days through only a few keystrokes!
The GEEKOM GT1 Mega,is now available on GEEKOM’s official website.
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Artificial Intelligence
Lucinity Partners with Sift for Unified Fraud and AML Case Management
SAN FRANCISCO, Sept. 19, 2024 /PRNewswire/ — Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.
Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.
Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:
Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift’s fraud detection capabilities.Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution.Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.
Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”
Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
About Sift: https://sift.com About Lucinity: https://lucinity.com
Media contact:Celina [email protected] +354 792 4321
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Artificial Intelligence
Employee Background Check Software Market Size to Grow USD 828.8 Million by 2030 at a CAGR of 4.9% | Valuates Reports
BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Employee Background Check Software Market is Segmented by Type (Cloud-Based, On Premises), by Application (SMEs, Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Employee Background Check Software Market was valued at USD 587 Million in 2023 and is anticipated to reach USD 828.8 Million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Employee Background Check Software Market:
The employee background check software market is growing due to increasing demands for secure hiring processes and regulatory compliance, especially in industries such as finance, healthcare, and IT. As companies look to reduce risks associated with fraud, legal liabilities, and workplace safety, background checks are becoming a critical part of recruitment processes. The rise of remote work has further accelerated the need for digital solutions. However, challenges include concerns over data privacy and varying legal frameworks across regions, which may slow adoption in some areas.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET:
Cloud-based background check software is gaining traction due to its scalability, remote access, and cost-effectiveness. With cloud-based systems, businesses can streamline their hiring processes, particularly when operating across multiple locations. The ability to access data and conduct checks in real-time is highly valuable for organizations managing large workforces or remote employees. The flexibility and lower upfront investment of cloud-based solutions make them popular among businesses seeking efficient and adaptable systems for their recruitment processes.
On-premises solutions remain important for organizations with strict security and data control requirements, such as those in government, defense, or finance. These companies often need complete ownership of their data, which on-premises software offers, reducing the risk of external breaches. Although it requires significant upfront investment and maintenance, on-premises software provides a high level of customization and security. It’s especially useful for businesses dealing with sensitive information and industries where compliance with local data protection laws is critical.
Large enterprises, particularly those operating in regulated industries like banking and healthcare, are the major adopters of employee background check software. These organizations deal with large volumes of hires, making streamlined background checks essential for compliance and operational efficiency. The ability to integrate background check systems with existing HR tools, such as applicant tracking systems, allows large companies to manage their recruitment processes more effectively. The need for comprehensive and accurate background checks is crucial for mitigating risk and ensuring legal compliance.
The rise in remote working has increased the demand for background check software that allows companies to vet employees regardless of their location. Digital background checks, particularly cloud-based ones, make it easier for organizations to screen remote workers efficiently. This trend is expected to continue as more companies adopt hybrid or fully remote work models, where geographical barriers no longer restrict talent acquisition but require thorough and remote-friendly verification processes.
As regulatory frameworks for employment practices become more stringent globally, businesses are increasingly relying on background check software to ensure compliance. Laws like the General Data Protection Regulation (GDPR) in Europe and the Fair Credit Reporting Act (FCRA) in the U.S. have made it mandatory for companies to conduct background checks within specific legal parameters. This has led to increased demand for software solutions that can automate these processes while maintaining compliance with regional and international laws.
A major trend in the employee background check software market is the integration of these solutions with human resources management systems (HRMS). Integrating background checks with HR software streamlines the hiring process by consolidating background checks, employee records, and onboarding into one system. This improves operational efficiency for businesses, particularly large enterprises that handle significant recruitment volumes. Integration with HRMS allows for real-time updates, making background screening an even more integral part of the hiring process.
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EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET SHARE
North America dominates the market due to stringent employment regulations and widespread adoption across industries. Europe is another key region, driven by GDPR compliance and demand in finance and healthcare. The Asia-Pacific region is experiencing rapid growth due to increasing awareness of the importance of background checks, especially in countries like China and India, where digital hiring platforms are becoming more popular. The market is also expanding in the Middle East and Africa as businesses prioritize secure hiring practices.
Key Companies:
HireRightGoodHireCheckrSterlingHireologyINTELIFIGood EggPeopleG2VitayCertnGlobal HR ResearchVeritable ScreeningXrefZincPaycomADPVICTIGIntelliCorp (Cisive)SpringVerifyAsurintUniversalAssureHireVerified FirstHireSafePurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-2A10579/Global_Employee_Background_Check_Software
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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