Report Forecasts Red Hot Demand for Telematics, Safety, Security and Navigation Systems
New study by TechnoMetrica Market Intelligence finds that demand for telematics, informatics, safety, security, entertainment and navigation systems is ramping up, with more than 25 million households saying that they are planning to install a navigation system (22%), or safety/security system (13%), into their vehicle within the next 12 months.
Oradell, NJ (PRWEB) January 23, 2007 -- Getting lost can be fun, but usually isn't; a harrowing drive may be exhilarating but that momentary rush of danger is usually trumped by a feeling of security. And given the fact that Americans drive, on average, 12,000 miles per year, it's no wonder that consumers rate onboard navigation and safety systems as the two most important telematics systems around.
In fact, according to a new study by TechnoMetrica Market Intelligence, Americans view these systems with such importance that more than 25 million households say that they are planning to install a navigation system (22%), or safety/security system (13%), into their vehicle within the next 12 months.
"The next several years will see an explosion of onboard, in-vehicle telematics and informatics systems," says Raghavan Mayur, president of TechnoMetrica Market Intelligence. "Businesses that address the demand for systems, features and services that improve the driving experience are well-positioned to take advantage of what is going to be one of the hottest sectors of the 21st century economy."
But beyond making additions to currently owned vehicles, Mayur says that the market will benefit from auto manufacturer technological initiatives that capitalize on expectations regarding the future.
The report shows that two out of three (62%) consumers are planning to purchase a navigation system to go along with their next vehicle purchase, while 51% are planning to purchase safety or security services.
According to Mayur, "a majority of consumers expect to see things like navigation, safety, security, multimedia ports, satellite and high-def. radio as standard fare in vehicles within the next 5 years."
"It's not just going to be add-ons," Mayur says. "Many consumers are going to expect that informatics and next-generation entertainment systems come pre-installed with new vehicles."
"Capitalizing on the already existing demand is not enough. Anyone wanting to play in this space had better heed what consumers are telling them. We can't wait for the future anymore because the future is already here."
About the Report
Based on a random nationally representative sample of 924 adults, the In-Vehicle Features & Devices report provides readers with an insightful analysis of consumers' wants, desires, design preferences, current ownership levels, planned purchases and expenditures with respect to navigation, safety/security, entertainment, Bluetooth technology, high definition radio, multimedia ports, satellite radio and gaming consoles.
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