Automotive Navigation Systems Industry Updates
- January
2021- HERE has entered into a strategic partnership with Mitsubishi
Corporation to allow better mobile navigation systems & location-based
advertisements in entertainment facilities and airports.
Automotive Navigation Systems Market Analysis
The global Automotive
Navigation Systems market is expected to expand at a compound annual growth
rate (CAGR) of 7.90% between 2023 and 2032, from USD 17.16 billion in 2023 to
USD 31.52 billion by 2032. In 2022, the automotive navigation systems market
was estimated to be worth USD 15.9 billion. A navigation system is a system
that is satellite-based used in vehicles for determining its position and the
route to a specific place. It instructs the driver to turn right or left at a
specific junction to reach their destination. This system also improves the
driving experience and safety.
Several factors are adding to the global Automotive
Navigation Systems market. Some of these factors, according to the MRFR report,
include the growing demand for semi-autonomous and autonomous cars, increasing
concern for vehicle and driver safety, rapid adoption of these systems in
commercial and passenger cars in India and China, lack of parking space, and
growing support from the government to reduce road accidents.
On the flip side, the high cost of navigation technology
coupled with underdeveloped telecommunication infrastructure may impede the
global Automotive Navigation Systems market growth over the forecast
period.
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Automotive Navigation Systems COVID-19 Analysis
The COVID-19 pandemic has cast its shadow on almost every
industry, with the automotive navigation system market being no different.
Lockdowns and social distancing trends imposed by the government during the
first quarter of 2020 had a negative impact on the automotive industry.
Manufacturing facilities were shut, there was a halt in production, and
disruptions in the supply chain were also experienced. But with the gradual
lifting of the lockdown, things have started to go back to normal. People are using
cars not only for essential needs but also for long drives. All these are
likely to have a positive impact on market growth.
Automotive Navigation Systems Market Segmentation
The MRFR report highlights an inclusive segmental analysis
of the global Automotive Navigation Systems market based on sales channel,
propulsion, vehicle type, and device type.
By device type, the global Automotive Navigation Systems
market is segmented into mobile navigation system, portable, and in-dash
navigation system. Of these, the in-dash navigation system will lead the market
over the forecast period.
By vehicle type, the global Automotive Navigation Systems
market is segmented into commercial vehicle and passenger cars. Of these, the
passenger car segment will dominate the market over the forecast period.
By propulsion, the global Automotive Navigation Systems
market is segmented into electric vehicle and ICE. Of these, the ICE segment
will spearhead the market over the forecast period, while the electric vehicle
segment will grow at a high CAGR.
By sales channel, the global Automotive Navigation Systems
market is segmented into aftermarket and OEM. Of these, the OEM segment will
have the lion’s share in the market over the forecast period, while the
aftermarket segment will grow at a high CAGR.
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Automotive Navigation Systems Regional Analysis
By region, the global Automotive Navigation Systems market
covers the growth opportunity and recent trends across Europe, North America,
the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC
region will dominate the market over the forecast period. The presence of a
large number of manufacturers, rapid technological advances, the growing need
for the commercial voyage, rising automobile production in Japan, South Korea,
India, and China, rising population, people’s rising purchasing power,
infrastructure development, and rapid industrialization are adding to the
global Automotive Navigation Systems market growth in the region.
The global Automotive Navigation Systems market in Europe is
predicted to have the second-largest share over the forecast period for the
presence of several key players like Continental AG (Germany) and Robert Bosch
GmbH (Germany).
The global Automotive Navigation Systems market in North
America is predicted to have healthy growth over the forecast period for the
developing passenger market in Canada and the US.
The global Automotive Navigation Systems market in the RoW
is predicted to have sound growth over the forecast period.
Automotive Navigation Systems Key Players
- Robert
Bosch GmbH (Germany)
- NNG
Software Developing and Commercial Llc. (Hungary)
- TomTom
N.V. (US)
- Telenav,
Inc. (US)
- Pioneer
Corporation (US)
- JVC
Kenwood Corporation (Japan)
- HERE
Technologies (US)
- Harman
International Industries, Inc. (US)
- Garmin
Ltd (US)
- Denso
Corporation (Japan)
- Delphi
Technologies (UK)
- Continental
AG (Germany)
- Clarion
Corporation (US)
- AISIN
SEIKI Co., Ltd (Japan)
- Alpine
Electronics, Inc. (Japan)
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