Global In-Dash Navigation System Market to Reach $21,994 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, April 4, 2018 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, In-Dash Navigation System Market by Technology, Component, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global in-dash navigation system market was valued at $10,497 million in 2016, and is projected to reach $21,994 million by 2023, growing at a CAGR of 11.1% from 2017 to 2023. In 2016, Asia-Pacific led the in-dash navigation system market with 40.90% share, followed by Europe, which contributed 32.96% share.
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An in-dash navigation system operates based on a GPS to provide the user with current location and shortest possible routes to the required destination. Factors such as rising disposable income of individuals and reduced fuel consumption of the vehicles supplement the global in-dash navigation system market. However, high cost of this system and lack of supporting infrastructure in developing countries restrict the market growth.
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In 2016, the 2D maps segment dominated the global in-dash navigation system market, based on technology, in terms of revenue. Furthermore, based on application, passenger cars led the global market, followed by LCVs segment in 2016. However, the HCVs segment is expected to register the highest CAGR from 2017 to 2023.
Key Findings of the In-dash Navigation System Market:
- The passenger cars segment generated the highest revenue in the global in-dash navigation system market in 2016.
- In 2016, the display unit segment was the highest revenue contributor in the component segment.
- LAMEA is projected to exhibit the highest CAGR during the forecast period.
- In 2016, Asia-Pacific dominated the global market, accounting for highest market share, followed by Europe, North America, and LAMEA.
- In 2016, China dominated the Asia-Pacific market; similarly, in the same year, Germany led the overall market in Europe. However, in North America, U.S. currently dominates the market.
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The key players profiled in the report include Continental AG, Garmin Ltd., Robert Bosch GmbH, Delphi Automotive PLC, Denso Corporation, Tomtom NV, Harman International, Alpine Electronics, Inc., Pioneer Corporation, and Mitsubishi Electric Corporation.
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