Market for in-dash navigation systems zooming ahead, report says

Market for in-dash navigation systems zooming ahead, report says

Market news |
Driven by a combination of multiple factors, the market for in-dash navigation systems is by far outgrowing the vehicle market, finds a study from MarketsandMarkets. Key demand drivers are the demand for real-time traffic information and for vehicle performance data as well as the desire to improve operational efficiency in general.
By Christoph Hammerschmidt

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The study “In-Das Navigation System Market” breaks down the overall market by technology (2D and 3D maps), by components such as display units, control modules, antennas and more, by connected navigation systems, by vehicle type and by region. Under the bottom line, the study expects a CAGR of 12.74 % for the time frame from 2016 through 2022. For comparison: The global passenger vehicle production will grow at a pace of 3.77 % during the same period. The demand for in-dash navigation systems (as opposed to after-market systems) thus will significantly outgrow the production of passenger cars. This also allows the conclusion that the take rate for the still relatively expensive in-dash navigation systems will rise quickly. By the end or the report period, the market watchers expect the market volume for such systems to amount to $17.5 billion globally.

The in-dash navigation system enabled with 2D-map technology accounted for the largest market share in 2016 and is projected to remain predominant during the forecast period. However, in terms of growth, the in-dash navigation system based on 3D maps is projected to exhibit a higher CAGR during the forecast period. The 3D maps market for Europe is estimated to grow at the fastest rate, followed by the markets in North America, Asia-Pacific, and RoW, respectively.


The growth of 3D maps navigation system is highly dependent on the telecommunication infrastructure, which is more advanced in developed countries such as Germany, U.S., and the U.K. Also, the introduction of safety regulations such as eCall or stolen vehicle recovery in Europe is one of the key factors driving the growth of this market.

The Asia-Pacific region is projected to be the largest market for in-dash navigation system from 2017 to 2022. The market growth in the region can be attributed to the presence of prominent OEMs [Honda Motor Co., Ltd (Japan) and Nissan Motor Company Ltd (Japan)], strategic alliances, and exceptional communication infrastructure. The market growth is also boosted by the presence of growing economies such as China and India where the demand for the navigation system is rising due to increasing vehicles on the roads and heavy traffic jams.

Dominating players in this market are globally established vendors such as Robert Bosch GmbH (Germany), Continental AG (Germany), and Harman International (U.S). The study observes a high dominance of relatively few players.

More information: https://www.marketsandmarkets.com/Market-Reports/in-dash-navigation-system-market-58230948.html

 

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