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Automotive Navigation Systems Market is expected to be valued at USD 43 Billion with a CAGR of 7% Forecast by 2027
Automotive Navigation Systems Market Overview
A navigation system is a satellite-based system that is used in automobiles to determine the position of a vehicle and the route to a particular place. A navigation system instructs the driver turn left or right at a particular junction to reach his/her destination. It also helps improve safety and the driving experience. The navigation system is one of the most significant discoveries in wireless telecommunication industry and is comprises a Global Positioning System (GPS). A GPS is connected with computer mapping techniques that provides a real-time map of the vehicle’s current location as well as step-by-step directions to a requested destination. Furthermore, automotive navigation system is considered to be a key technology that can be further improved with the growth of autonomous vehicles.
The increasing demand for autonomous and semi-autonomous vehicles, growing concern regarding driver and vehicle safety, lack of parking space, and rapid adoption of navigation systems in passenger and commercial vehicles in developing countries, such as China and India, are some of the key factors driving this market. The growing support from governments in several countries, around the world, to reduce road accidents is set to accelerate the growth of this market during the study period
The increasing focus on introducing innovative and efficient printing materials to provide lightweight spare parts, reducing material wastage and lowering the turnaround time is driving the expansion of the global Automotive Navigation Systems market. The increasing government support for research and development in 3D printing technology is likely to impact positively on the growth of the global Automotive Navigation Systems market.
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Globally Major key Players accelerates the Automotive Navigation Systems Market are, Alpine Electronics, Inc., (Japan), AISIN SEIKI Co., Ltd (Japan), Clarion Corporation (US), Continental AG (Germany), Delphi Technologies (UK), Denso Corporation (Japan), Garmin Ltd (US), Harman International Industries, Inc. (US), HERE Technologies (US), JVC Kenwood Corporation (Japan), Pioneer Corporation (US), Telenav, Inc. (US), TomTom N.V. (US), NNG Software Developing and Commercial Llc. (Hungary), and Robert Bosch GmbH (Germany).
Most important Segments of Automotive Navigation Systems market covered in this report are,
By Device Type
By Vehicle Type
By Sales Channel
Automotive Navigation Systems Industry Influence of the global market report:
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The global Automotive Navigation Systems market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.
Automotive Navigation Systems Market Regional Analysis
In terms of region, the global market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to hold the largest market share during the forecast period, owing to the increasing production of automobiles in China, India, South Korea, and Japan. Moreover, the growing population and rising purchasing power of people in these countries are expected to boost the demand for automotive navigation systems in this region. Additionally, the rapid industrilization and infrastructure development, across the region, accelerates the growth of this market.
Europe is estimated to grow at a significant rate in automotive navigation systems market during the forecast period owing to the presence of key players such as Robert Bosch GmbH (Germany) and Continental AG (Germany).
Automotive Navigation Systems market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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