BOSTON–(BUSINESS WIRE)–The Global Automotive Practice at Strategy Analytics released its Q2 2020 Infotainment and Telematics update which includes commentary on the market implications of the COVID-19 crisis. On the back of a weak 2019, 2020 will see the opportunity for system vendors fall by 14%, before a strong rebound in 2021 (+12%).
“We expect some parts of the supply-chain to experience a slower return, due to over-supply in Q1 2020” said Richard Robinson – Director of the Automotive Infotainment & Telematics Service. “However we should not forget that suppliers were tooling up and shipping products well into Q1 based on pre-COVID-19 2020 vehicle production forecasts of 90 Million units,” continued Robinson.
Korea and China in particular have a head start in sorting out the supply-side of the equation, however the demand-side is much less certain.
“The reality is production closer to 77 Million units in 2020” said Roger Lanctot – Director of the Connected Mobility service at Strategy Analytics, “This new reality has required suppliers to put their feet firmly on the brakes as OEMs and their suppliers wind down inventory and navigate a path back to growth, which will clearly include aggressive incentives and government support in the form of cash-for-clunkers programs.”
The full implications of the Infotainment & Telematics market changes including detailed commentary as well as system and chipset forecast updates are available for download or access online using MetrixLive.
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