The In-Dash Navigation System Market is projected to grow at a CAGR of 12.74% during the forecast period, to reach USD 17.53 Billion by 2022.
Increasing demand for vehicle connectivity for real-time traffic information, government regulations pertaining to safety, demand for vehicle performance data for predictive analysis, and improved operational efficiency and profitability are the key drivers for the in-dash navigation system market.
Passenger cars are estimated to hold the largest market share during the forecast period
Along with the rise in vehicle production, the demand for safety and comfort features has also increased among the end-users. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA) statistics, the global passenger vehicle production has increased from 59.9 million units (2011) to 72.1 million units (2016), at a CAGR of 3.77% over the period of five years. Also, developing countries such as China and India have witnessed significant economic growth, which in turn is increasing the demand for premium and luxury segment cars. The substantial increase in the production of passenger cars and favorable economic outlook are fueling the demand for passenger cars with advanced electronic systems including in-dash navigation systems.
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In-Dash navigation system with 3D-Maps is estimated to be the fastest growing market from 2017 to 2022
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.
Asia-Pacific: Largest market for in-dash navigation systems
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.
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The in-dash navigation system market is dominated by a few globally established players such as Robert Bosch GmbH (Germany), Continental AG (Germany), and Harman International (U.S).
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In-Dash Navigation System Market worth $17.53 Billion by 2022
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