SANTA CLARA, Calif., – October 2, 2019 – Telenav®, Inc. (NASDAQ: TNAV), a leading provider of connected-car and location-based services, was declared the number one supplier in 2018 of navigation software engines installed in vehicles produced in North America, based on volume, with a 26 percent market share according to the latest IHS Markit Infotainment Headunit Systems Forecast (August, 2019).
Telenav’s navigation solution powers some of the world’s largest automotive manufacturers’ embedded navigation offerings. The solution allows OEMs to deliver a navigation experience to their customers that seamlessly blends in-vehicle functionality with cloud-based intelligence. It includes proactive destination recommendations with ETA based on predictive modeling, incorporating real-time traffic alerts, speed flows, and accurate ETAs. Map data is kept relevant and accurate with timely over-the-air updates. Telenav’s navigation solution also stands out in its ease-of-use, with intelligent search features, integrated voice recognition, and directions to car-related services such as fuel and parking.
A summary of the Telenav navigation solution’s key features includes:
- Real-time traffic and ETA
- Easy destination entry with One Box Search with auto-suggest and word prediction
- Rich POI information that shows reviews, hours of operation, and gas and parking prices
- Smart POI rendering showing fuel options when gas is low, and parking options when approaching destination
- Cloud-connected smart voice-assistance experience
- Seamless over-the-air map updates with minimal user interaction
“Telenav was among the first companies to bring GPS navigation to mobile consumers,” stated Sal Dhanani, Telenav Co-President, Automotive Business Unit. “Now, there are more than 24-million vehicles equipped with our navigation systems on the road, more than 14 million of which are connected cars. In fact, according to IHS Markit, in 2018, Telenav navigation software engines were embedded in more vehicles produced in North America than any other navigation supplier, with 2018-unit sales totaling 1.4 million.”
The IHS Markit Infotainment Headunit Systems Forecast provides an overview of the current landscape of infotainment head-unit systems for cars as well as an in-depth demand outlook for the systems, main players, and market drivers at global and regional levels. The infotainment headunit is the command center of a vehicle’s entertainment functions, including radio tuner, media connectivity, audio playback, and navigation, as well as the human-machine interface element (center stack display).
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to anticipated financial performance, management’s plans and objectives for future operations, business prospects, product offerings and performance, market penetration, and other matters. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Telenav undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Forward-looking statements can be identified by various words such as “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and similar expressions. These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Telenav cautions that these statements are subject to risks and uncertainties, many of which are outside of Telenav’s control and could cause future events or results to be materially different from those stated or implied in this document, or to not occur at all, including among others, risk factors that are described in Telenav’s Annual Report on Form 10-K and quarterly report on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission (“SEC”), which are available at the SEC’s website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements.
