Press release
In-Dash Navigation Systems Market 2024: Advancements & Global Opportunities
in-dash navigation system market trends
According to The Business Research Company's, The in-dash navigation system market size has grown rapidly in recent years. It will grow from $12.63 billion in 2023 to $13.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increased demand for integrated infotainment systems in vehicles, growing consumer reliance on navigation aids for travel and commuting, rise in traffic congestion, expansion of automotive connectivity options, improvement in user interface and user experience.
The in-dash navigation system market size is expected to see rapid growth in the next few years. It will grow to $21.19 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to expansion of autonomous vehicle technology, growth of smart city initiatives, enhanced connectivity options, such as 5G networks, increasing focus on sustainability and energy efficiency.. Major trends in the forecast period include emphasis on sustainability and eco-friendly navigation, seamless integration with smart city infrastructure, hyper-personalization and context-aware navigation, enhanced connectivity and data sharing.
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Market Drivers and Trends:
A rise in traffic congestion is expected to propel the growth of the in-dash navigation system market moving forward. Traffic congestion refers to a condition on road networks where traffic demand exceeds the available roadway capacity, resulting in slower speeds, longer travel times, and sometimes even complete standstills. The rise in traffic congestion is due to economic growth, a lack of public transportation options, and economic development. In-dash navigation systems use traffic congestion data to provide users with real-time information about road conditions, help them navigate more efficiently, reduce travel time, and enhance the overall driving experience. For instance, in 2022, according to reports published by INRIX Inc., a US-based transportation company, the typical driver in the country lost 51 hours in congestion, up 15 hours from 2021, costing the average driver $869 in lost time. Therefore, the rise in traffic congestion is driving the growth of the in-dash navigation system market.
Major companies operating in the in-dash navigation system market focus on developing innovative technological products, such as the iLX-F511 and iLX-F509, to meet consumer demand and gain a competitive advantage. The iLX-F511 and iLX-F509 are Alpine Halo11 digital multimedia receivers that offer Apple CarPlay and Android auto capabilities. For instance, in January 2022, Alpine Electronics Inc., a Japan-based consumer electronics company, launched two new Alpine Halo Floating touchscreen receivers, the iLX-F511 and iLX-F509. This floating touch display fits most single-DIN dash openings and offers features such as an HD radio tuner, Bluetooth hands-free calling, and audio streaming. It allows users to make calls, access text messages, play music, and get directions while staying focused on the road. Additionally, it supports FLAC audio files for high-quality music playback and integrates with services such as Pandora, Spotify, and Waze for a seamless driving experience.
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Major Key Players of the Market:
Sony Corporation, Panasonic Corporation, Denso Corporation, Continental AG, Mitsubishi Electric Corporation, AISIN SEIKI Co. Ltd, Pioneer Corporation, Alpine Electronics Inc., Garmin Ltd., Trimble Inc., Visteon Corporation, Harman International Industries Incorporated, Robert Bosch GmbH, HERE Technologies, Sierra Wireless Inc., TomTom N.V., NNG Software Developing and Commercial LLC, Teletrac Navman, Telenav Inc., Luxoft Holdings Inc, JVC Kenwood Corporation, Clarion Corporation, Blaupunkt GmbH, Xevo Inc., Delphi Technologies PLC
In-Dash Navigation System Market 2024 Key Insights:
• The in-dash navigation system market size is expected to see rapid growth in the next few years. It will grow to $21.19 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%.
• Impact Of Traffic Congestion On The In-Dash Navigation System Market
• Alpine Electronics Inc Launches Innovative iLX-F511 And iLX-F509 Floating Touchscreen Receivers
• Europe was the largest region in the in-dash navigation system market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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