PROSPECTS AND OPPORTUNITIES
Improving economy could see consumers willing to pay more for upgrades
Local auto retailers have noted that some consumers are willing to pay the additional expense of aftersales in- car entertainment systems to improve their car journeys and overall experience. This trend offers growth potential for a category that recorded declines throughout the review period; both retail volume and value sales (at constant 2024 prices) are expected to improve towards the end of the forecast period, in line with a likely recovery of the local economy.
Increasing use of electric vehicles may lead to shift in in-car entertainment trends
As electric vehicles continue to gain popularity in Hong Kong, this leads to a variable situation for in-car entertainment. On the one hand, the majority of electric car owners are from a younger adult demographic and highly tech-savvy, and thus would welcome high-tech in-car entertainment devices.
New Wi-Fi and 5G connectivity offer further competition
As smartphones continue to be the main hub for in-car entertainment in Hong Kong, car manufacturers have started to implement Wi-Fi and 5G connectivity into their vehicles. Smartphones can connect directly to the car, which means that drivers can access messaging, music and navigation apps directly from inbuilt dashboards.
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Overview:
Understand the latest market trends and future growth opportunities for the In-Car Entertainment industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the In-Car Entertainment industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The In-Car Entertainment in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of In-Car Entertainment in Hong Kong, China?
- Which are the leading brands in Hong Kong, China?
- How are products distributed in Hong Kong, China?
- How is the rise of e-commerce changing the retail landscape?
- How has COVID-19 and accordant macroeconomic and retail disruption impacted consumer demand?
- How are considerations such as urban development and the rise in single-person households driving sales growth?
- Where is technology taking the market? Which products are pioneering growth? Which face obsolescence?
- Where is future growth expected to be most dynamic?
In-Car Entertainment in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Lack of aftersales demand continues to hinder category’s performance
Consumers unwilling to buy separate in-car entertainment systems
Major brands continue to lead, as luxury vehicle owners seek entertainment systems most suitable for their cars
Improving economy could see consumers willing to pay more for upgrades
Increasing use of electric vehicles may lead to shift in in-car entertainment trends
New Wi-Fi and 5G connectivity offer further competition
Consumer Electronics in Hong Kong, China - Industry Overview
Consumer electronics in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer electronics?
DISCLAIMER
The following categories and subcategories are included:
In-Car Entertainment
- In-Car Navigation
- In-Car Speakers
- In-Dash Media Players
In-Car Entertainment
In-car Entertainment consists of In-Dash Media Players, In-Car Navigation, and In-Car Speakers.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our In-Car Entertainment research and analysis database.
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