WASHINGTON, April 19, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global In-Dash Navigation System Market finds that Increasing Customer Preference for In-Dash Navigation System, and Increasing Awareness and Use of In-Vehicle Connected Services are factors that influencing the growth of In-Dash Navigation System Market. Additionally, Fleet Management Services, increasing application area of navigation services and increasing Government regulations pertaining to in-vehicle navigation system is further propelling the market growth.
The total Global In-Dash Navigation System Market is estimated to reach USD 25.85 Billion by the year 2028. The Global Market valued at a revenue of USD 13.52 billion in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.40%, states Vantage Market Research, in a report, titled “In-Dash Navigation System Market Size, Share & Trends Analysis Report by Component type (Display Unit, Control Module, Antenna Module, Wiring Harness), by Service Type (Real Time Traffic And Direction Information Services, Fleet Management Services, Others), by Technology (2D Maps, 3D Maps), by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by Electrical Vehicle Type (BEV, HEV, PHEV), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Market Dynamics:
Drivers:
Increasing Demand for Vehicles
The automotive sector has witness significant growth in past decade. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), around 82,684,788 vehicles were sold in 2021 from 78, 744, 320 vehicles in 2020 across the globe. Among which, 56,398,471 were the passenger vehicles and 26,286,317 were commercial vehicles. Thus, increasing the demand for vehicles is incretions the demand for in-dash navigation systems. Thus, consequently; driving the market growth.
Additionally, increasing fundings from several manufacturers for improvising the technology is further propelling the market growth. Moreover, the several government regulations regarding In-dash Navigation Systems. For instance, in India, the government focused on introducing GPS-based toll collection method. For this all vehicles are required to be equipped with GPS. Thus, several initiatives and regulations taken by government is stimulating the market growth over the forecast period.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the In-Dash Navigation System market is predicted to grow at a CAGR of roughly 11.40% during the forecast period.
- The In-Dash Navigation System market was estimated to be worth roughly USD 13.52 Billion in 2021 and is expected to reach USD 25.85 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide In-Dash Navigation System market.
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Segmentation of Global In-Dash Navigation System Market:
- Component type
- Display Unit
- Control Module
- Antenna Module
- Wiring Harness
- Service Type
- Real Time Traffic And Direction Information Services
- Fleet Management Services
- Others
- Technology
- 2D Maps
- 3D Maps
- Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electrical Vehicle Type
- BEV
- HEV
- PHEV
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Restraints:
High System Cost and Lack of Supporting Infrastructure in Developing Countries
In developing countries, the major concern is income level. Thus, affordability and buyers purchasing power is less. In-vehicle navigation system cost is comparatively high than that of other navigation devices or systems. Thus, which may act as a restraining factor for the market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on In-Dash Navigation System Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Europe Holds Maximum Market Share
Europe is expected to dominate the growth of In-Dash Navigation System Market in 2021. The major driving factors for the market are presence of developing economies like China and India in the region. Additionally, increased demand for vehicle in the region is further propelling the market growth. For instance, China's passenger car sales up 4.4% in 2021. Sales of passenger cars in China rose 4.4 percent year-on-year to 20.15 million units in 2021. Thus, driving the market growth over the forecast period.
List of Prominent Players in the In-Dash Navigation System Market:
- Robert Bosch GmbH (Germany)
- Continental AG (Germany)
- Denso Corporation (Japan)
- and Delphi Automotive Plc. (UK)
- TomTom (Netherlands)
- Garmin (Switzerland)
- Harman international (US)
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "In-Dash Navigation System Market Size, Share & Trends Analysis Report by Component type (Display Unit, Control Module, Antenna Module, Wiring Harness), by Service Type (Real Time Traffic And Direction Information Services, Fleet Management Services, Others), by Technology (2D Maps, 3D Maps), by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), by Electrical Vehicle Type (BEV, HEV, PHEV), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/in-dash-navigation-system-market-149054
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the In-Dash Navigation System Market?
- How will the In-Dash Navigation System Market change in the upcoming six years?
- Which application and product will take a lion’s share of the In-Dash Navigation System Market?
- What is the In-Dash Navigation System market drivers and restrictions?
- What will be the CAGR and size of the In-Dash Navigation System Market throughout the forecast period?
Recent Developments:
Oct 2021: Garmin Ltd. launched Drive Smart 61 LMT-S navigation system, which provides spoken turn-by-turn navigation using street names and landmarks.
This market titled “In-Dash Navigation System Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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- Top Companies in the In-Dash Navigation System Market:- https://v-mr.biz/in-dash-navigation-system
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