In-Dash Navigation System Market to Reach Valuation of USD 25.85 Billion by 2028 - Increasing Demand for In-Dash Navigation System in Retail Sector to Drive the Market Growth

Vantage Market Research

Apr 15, 2022

From the period 2022 to 2028, the Global In-Dash Navigation System Market is expected to reach USD 25.85 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 11.40%.

One of the primary reasons driving the market is the rising incorporation of In-Dash Navigation Systems as a standard feature in automobile models. Aside from that, several nations' governments are enacting strict rules to limit carbon emissions from vehicles. This, together with the growing use of connected automobile gadgets, is having a beneficial impact on the market. Aside from that, the number of road traffic injuries and deaths has increased dramatically over the world. As a result, automobile manufacturers are implementing advanced driver assistance systems (ADAS) and lane departure warning systems (LDWS) into their products to give improved services. This, together with increasing technical improvements, is providing market participants with attractive growth potential. Furthermore, factors such as increased passenger car sales, rising consumer safety concerns, and a booming automotive sector are expected to propel the market forward.

Key Highlights from the Report

  • Based on technology, the In-Dash Navigation Systems market can be segmented into 2D maps and 3D maps. 2D maps are often found in any conventional car model, however, 3D map technology is more advanced and hence more costly. In the next five years, the market for 2D maps is predicted to hold the largest share. This is due to the increased expenses and complexity of 3D mapping technology in terms of technical skills.

  • Based on the Component, the market is segmented into display units, antenna modules, control modules, antenna modules, and wiring harnesses. Control modules, antenna modules, and wire harnesses are expected to have the biggest market share, followed by display units. Whereas, in terms of volume, the wire harness is likely to dominate, followed by other components. Because of rising use and vehicle production in these regions, the market for In-Dash Navigation Systems is predicted to develop the fastest in emerging economies.

  • Asia Pacific is the fastest regional segment. In terms of growth, Asia Pacific is expected to have the highest Compound Annual Growth Rate (CAGR) among all regions contributing to 1/4th share of the market. Developing economies such as China and India are likely to play a big role in light of growing automobile manufacturing. Furthermore, as the number of cars on the road in emerging countries increases, so will demand for real-time traffic and weather information, resulting in an increased need for In-Dash Navigation Systems. The market for car in-navigation systems is expanding rapidly in emerging economies, owing to rising GDP and population in these regions, which has resulted in improved lifestyles, higher consumer spending power, and improved road connection and infrastructure.

Some of the key players in the In-Dash Navigation System Market include - Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), and Delphi Automotive Plc. (UK), TomTom (Netherlands), Garmin (Switzerland), Harman international (US).

Market Dynamics:

One of the primary reasons driving the market is the rising incorporation of In-Dash Navigation Systems as a standard feature in automobile models. Furthermore, these systems make use of global positioning system (GPS) devices, which assist cars consume less gasoline by showing the driver the fastest path to their destination. Aside from that, several nations' governments are enacting strict rules to limit carbon emissions from vehicles. This, together with the growing use of connected automobile gadgets, is having a beneficial impact on the market.

Aside from that, the number of road traffic injuries and deaths has increased dramatically over the world. As a result, automobile manufacturers are implementing advanced driver assistance systems (ADAS) and lane departure warning systems (LDWS) into their products to give improved services. This, together with increasing technical improvements, is providing market participants with attractive growth potential. Furthermore, factors such as increased passenger car sales, rising consumer safety concerns, and a booming automotive sector are expected to propel the market forward.

In terms of growth, Europe is predicted to account for the highest share of the industry, with a market share of 36.90%. Government agreements to support and improve fleet management systems, as well as the advent of numerous navigation system manufacturing start-ups, are influencing the growth of the In-Dash Navigation System Market. Furthermore, as the number of cars on the road in developing countries increases, so does the demand for real-time traffic and weather information, leading in an increase in demand for In-Dash Navigation Systems. This increase is due to the region's developing transportation infrastructure. Furthermore, the presence and availability of global and local brands, as well as the effect of sales channels, promote market expansion.