The global in-dash navigation systems market has been estimated to exhibit an impressive expansion during the forecast period 2017 to 2022, according to a new study by Persistence Market Research (PMR). Global sales of in-dash navigation systems are expected to account for revenues over US$ 20 Bn by 2022-end.
OEMs Offering In-Dash Navigation Systems in Hatch-back Vehicles
Along with the focus on providing embedded systems, OEMs are also aiming to offer technologically advanced vehicle systems, which will render various functionalities in a single unit.
OEMs are also concentrating on providing in-dash navigation systems in hatch-back vehicles, to increase their popularity among consumers, and gain a competitive edge.
Busy lifestyles of individuals, especially across urban regions, has driven demand for vehicles that have an in-built system providing real-time information on traffic as well as the vehicle performance, along with improvements in the vehicle’s operational efficiency.
Several vehicle norms provided by regulatory bodies have been encouraging automobile manufacturers to produce higher fuel-efficient vehicles. In-dash navigation systems are crucial in reducing the vehicle’s fuel consumption, as they offer information regarding shortcuts in routes, and traffic jams in close-proximity areas. The aforementioned factors are expected to drive growth of the market over the forecast period.
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Some other prominent factors impacting market growth are government regulations concerning use of embedded navigation systems, surge in the production of vehicles, and rise in purchasing power of individuals across developed as well as developing economies. In addition, increasing demand for lightweight components of vehicles, along with legislations related to emissions will further augment demand for the in-dash navigation systems in vehicles.