In-Dash Navigation Systems Market to be Worth US$ 20 Billion by 2024, Aftermarket to Remain the Largest Sales Channel
The study of market analysis of In-Dash Navigation System Market focuses on the key elements and the market dynamics of a specific market within that industry. In-Dash Navigation System Market study is an essential part of the industry analysis that focuses on the aspects associated with the SWOT analysis. The survey report analyses the elements, such as the strengths, weaknesses, opportunities, and threats of every individual manufacturing company.
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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 vehicles, 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.
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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 billion in revenues by 2022-end. Sales of in-dash navigation system in OEM will exhibit a relatively faster expansion 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.
- 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.
- 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.
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Major Highlights of In-Dash Navigation System Market Report:
- In-Dash Navigation System Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes In-Dash Navigation System Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
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