The Global automotive navigation systems market size is expected to reach USD 56.91 Billion in 2030 | Emergen Research
The global automotive
navigation systems market size is expected to reach USD 56.91 Billion
in 2030 and register a revenue CAGR of 7.3% over the forecast period, according
to latest analysis by Emergen Research. Growth of automotive industry,
increased traffic congestion, rising adoption of automotive Global Positioning
System (GPS) navigation systems, rising population, rising demand for real-time
traffic data, and rising investment in the development of automotive
infrastructure in emerging countries are key factors expected to support market
revenue growth between 2022 and 2030. There has been an increase in demand for
navigational accuracy over the last few years. Moreover, GPS technology has
progressed significantly in the last few years, making rides much easier and
safer.
Rapidly emerging
economies, changing standards of living, and increased spending capacity of
individuals, as well as rapid development of connected car and autonomous
vehicle infrastructure and rising demand for fleet management, are some factors
driving market revenue growth
There has been a growth in demand for safety and navigation
features such as Advanced Driver Assistance Systems (ADAS), Lane Departure
Warning Systems (LDWS), and GPS navigation systems for enhanced road safety and
convenience. Several market players are introducing new features and innovative
software in order to provide better and more precise navigation services. In
January 2021, for instance, Alps Alpine & Qualcomm introduced ‘ViewPose’, a
precise positioning system created to overcome limitations of traditional GPS,
particularly in metropolitan areas with inconsistent signals.
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Some Key Highlights from the Report
- In-dash
navigation systems segment accounted for largest revenue share in 2021.
In-dash navigation systems refer to a vehicle\'s integrated navigation
system that displays maps and provides turn-by-turn directions for
location routes. It can provide real-time traffic information, 3D High
Definition (HD) maps, weather forecasts, voice help, music, and
Over-the-Air (OTA) map updates, among others. Display unit, control
module, antenna module, and wiring harness are primary components of an
in-dash navigation system. In-dash navigation systems can also accurately
track vehicle\'s speed by wiring unit to vehicle\'s internal speed signal.
- Automotive
navigation systems market in Asia Pacific is expected to account for
largest revenue share among other regional markets during the forecast
period, due to presence of a large number of manufacturers in this region.
Growing urbanization, high disposable income, growing consumer demand for
cars, growing car-sharing activities, growing smartphone adoption
associated with an increase in Internet connectivity, and presence of
global and local vendors will support growth of automotive navigation
systems market in APAC over the forecast period. Moreover, market is
likely to benefit from rapid technical improvements and an increase in
demand for commercial journeys.
- Major
companies in the global market report include TomTom International BV.,
Mitsubishi Electric Corporation, Continental AG, Pioneer Corporation,
Telenav Inc., NNG Software Developing and Commercial Llc., Robert Bosch
GmbH, ALPINE ELECTRONICS, Inc., Renault Group, and Ford Motor Company
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Emergen Research has segmented the global automotive
navigation systems market on basis of device type, vehicle type, sales channel,
and region:
- Device
Type Outlook (Revenue, USD Billion; 2019–2030)
- In-Dash
Navigation Systems
- Portable
Navigation Devices (PNDs)
- Mobile
Navigation Systems
- Vehicle
Type Outlook (Revenue, USD Billion; 2019–2030)
- Passenger
Cars
- Commercial
Vehicles
- Sales
Channel Outlook (Revenue, USD Billion; 2019–2030)
- OEM
- Aftermarket
Global Automotive Navigation Systems
Market Geographical Landscape - Synopsis:
The report closely studies the growth
trajectory of the global Automotive Navigation Systems Market . It brings to
light the global dominance of the leading regional segments, including North
America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The study elaborates on the crucial
information pertaining to the regional Automotive Navigation Systems share. It
simultaneously focuses on the significant details about the growth patterns of
each regional market.
Moreover, the report encases an
exhaustive geographical study of the market, emphasizing the business growth
prospects and market barriers for each of the key market regions.
Finally, all aspects
of the Automotive Navigation Systems market are quantitatively as well
qualitatively assessed to study the global as well as regional market
comparatively. This market study presents critical information and factual data
about the market providing an overall statistical study of this market on the
basis of market drivers, limitations and its future prospects.
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