Sales of in-vehicle consumer electronics will grow at a rate of 13 percent in 2008 to more than $12.8 billion.
That’s the prediction of a study released by the Consumer Electronics Association. In the study, “Automotive Electronics — What Consumers Have and What They Desire,” CEA said the typical American spends nearly 17 hours a week in a car. As a result, 38% of the driving age population intends to buy and install an in-vehicle CE product over the next year.
Topping the list are remote vehicle starters (15%), in-dash navigation systems (13%) and car alarms (12%). But there are also strong purchase intentions for technologies like HD Radio, satellite radio and DVD players, CEA said.
Based on results from this study, consumers are actually more likely to spend money on CE products that are not permanently installed in vehicles, signaling a desire for flexibility and multi-location use when it comes to buying CE products, according to the trade group.