In Dash Navigation System Market to Witness Quick Rise during forecast period
The global in-dash navigation systems market has been estimated to exhibit an impressive expansion during the forecast period 2017 to 2022, according to a new study by Persistence Market Research (PMR). Global sales of in-dash navigation systems are expected to account for revenues over US$ 20 Bn by 2022-end.
OEMs Offering In-Dash Navigation Systems in Hatch-back Vehicles
Along with the focus on providing embedded systems, OEMs are also aiming to offer technologically advanced vehicle systems, which will render various functionalities in a single unit.
OEMs are also concentrating on providing in-dash navigation systems in hatch-back vehicles, to increase their popularity among consumers, and gain a competitive edge.
Busy lifestyles of individuals, especially across urban regions, has driven demand for vehicles that have an in-built system providing real-time information on traffic as well as the vehicle performance, along with improvements in the vehicle’s operational efficiency.
Several vehicle norms provided by regulatory bodies have been encouraging automobile manufacturers to produce higher fuel-efficient vehicles. In-dash navigation systems are crucial in reducing the vehicle’s fuel consumption, as they offer information regarding shortcuts in routes, and traffic jams in close-proximity areas. The aforementioned factors are expected to drive growth of the market over the forecast period.
Some other prominent factors impacting market growth are government regulations concerning use of embedded navigation systems, surge in the production of veh_icles, and rise in purchasing power of individuals across developed as well as developing economies. In addition, increasing demand for lightweight components of vehicles, along with legislations related to emissions will further augment demand for the in-dash navigation systems in vehicles.
Key Insights Offered by PMR’s Report on Global In-Dash Navigation System Market
Aftermarket will continue to be the largest sales channel in the market, with sales poised to exceed US$ 13,000 Mn in revenues by 2022-end. Sales of in-dash navigation system in OEM will exhibit a relatively faster expanhealthsion through 2022.
On the basis of vehicle type, in-dash navigation systems will witness the highest demand in mid-sized passenger cars.
Screen size of 4 inches will remain highest-selling in the global in-dash navigation system market.
Although LCD display will be sought-after among consumers in the market, sales of high-definition (HD) display for in-dash navigation systems will exhibit the fastest expansion through 2022.
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Europe is estimated to remain the most-lucrative region in the global in-dash navigation system market. In addition, North America and Europe will exhibit equal CAGRs in the market through 2022.
Asia-Pacific excluding Japan (APEJ) will also account for a major revenue share. This can be highly attributed to increasing vehicle product in emerging economies of APEJ such as China and India.
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Key players actively operating in the market include TomTom NV, Robert Bosch GmbH, Pioneer Corporation, Mitsubishi Electric Corp, Luxoft Holdings Inc., Garmin International, Denso Corporation, Delphi Automotive PLC, Continental AG, Alpine Electronics Inc., and Clarion Co. Ltd.