As stated by an extensive report; providing insights onComponent, Connected Navigation Service Type, Technology Type, Vehicle Type, and Electric Vehicle Type;the Global In-Dash Navigation System Market accounted for USD 13.52 billion in the year 2021.
In recent years, the number of new vehicles offering navigation systems as standard or optional equipment across the globe has steadily increased within the past several years, with systems being offered in 54 models of 2002 vehicles. Consumer satisfaction with navigation systems is strongly related not only to operational aspects of these systems (speed and accuracy) but to their ease of use as well. User-friendly designs are especially important since the majority of consumers purchasing navigation systems are first-time users with no experience operating these types of complex devices.
The majority of developed countries are using modern vehicles that include in-dash navigation systems for traveling, thus helping the market to flourish in the forecast years. The rapid growth of the Global In-Dash Navigation System Market in terms of the number of players and services is producing a highly competitive market where many solution providers are struggling to achieve meaningful differentiation.
Furthermore, the increasing sales of luxurious cars along with the need for semiautonomous vehicles are expected to generate opportunities for the growth of the In-Dash Navigation System Market.
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in the coming years owing to the high demand for in-dash navigation in the automotive sector.Additionally, this region has the most advanced navigation technologies which are boosting the market to growth. Countries such as the U.S. & Canada are considered to be the most developed countries in the field of automobile technology. These are a few of the reasons is expected to grow in the coming years.
Developing economies like India, China, and the Middle East are considered to gain huge opportunities in the adoption of in-dash navigation systems. The Asia Pacific held the largest share of the In-Dash Navigation System Market in 2021, followed by Europe and North America.In major parts of the world, the market is still growing owing to insufficient funds, lack of awareness, minimum availability of Research and Development (R&D) facilities, underdeveloped IT infrastructure, and social constraints.
Major players of the Global In-Dash Navigation System Market such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), and Delphi Automotive Plc. (UK), TomTom (Netherlands), Garmin (Switzerland), Harman international (US).