South Korea Automotive Navigation Systems
Market Overview:
South
Korea Automotive Navigation Systems Market is
expected to be valued at USD 30,134.3 million with a CAGR of 7.9% Forecast by
2030
The South Korea Automotive Navigation Systems
Market has become an integral part of modern driving, revolutionizing the way
people navigate roads and explore new destinations. These systems, commonly
integrated into vehicles or accessible through mobile devices, leverage
advanced technologies such as GPS and real-time traffic data to provide drivers
with accurate and efficient route guidance. The market has witnessed
significant advancements, transitioning from traditional GPS navigation to more
sophisticated platforms that offer features like live traffic updates, voice
recognition, and interactive maps.
The increasing demand for seamless connectivity
and smart navigation solutions has fueled the growth of the South Korea Automotive
Navigation Systems Market. Drivers today seek not only efficient routes but
also real-time information on points of interest, traffic conditions, and
alternative routes. The market's evolution aligns with the broader trends in
connected vehicles and smart transportation, contributing to enhanced driving
experiences and improved road safety. As technology continues to advance, we
can anticipate further innovation in Automotive Navigation Systems, including
integration with AI-driven functionalities, augmented reality displays, and
increased emphasis on user-friendly interfaces, reinforcing the market's
pivotal role in the automotive industry.
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Sample Report of South Korea Automotive Navigation Systems Market
The South Korea Automotive Navigation Systems
Market has emerged as a crucial component in modern vehicles, revolutionizing
the way individuals navigate and experience travel. These systems utilize GPS
technology to provide real-time navigation, offering drivers turn-by-turn
directions, traffic updates, and points of interest. As consumer expectations
for connectivity and convenience in automobiles increase, automotive navigation
systems have evolved to incorporate advanced features such as voice
recognition, predictive routing, and integration with smartphone applications.
This evolution reflects a broader trend in the automotive industry toward
creating intelligent, interconnected vehicles that enhance safety and provide a
seamless driving experience.
The market's growth is propelled not only by the
rising demand for integrated navigation solutions but also by the increasing
focus on autonomous driving technology. Navigation systems play a pivotal role
in the development of autonomous vehicles, contributing to precise positioning
and route planning. As automotive manufacturers continue to invest in research
and development to enhance the capabilities of navigation systems, the South
Korea Automotive Navigation Systems Market is anticipated to witness sustained
growth, with innovations aimed at making driving safer, more efficient, and
enjoyable for users worldwide.
Several factors are adding to the global South
Korea Automotive Navigation Systems Market Size. 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 South Korea Automotive Navigation Systems Market Size growth
over the forecast period.
South Korea Automotive Navigation
Systems Market Key Players
- Delphi
Technologies
- JVC Kenwood
Corporation
- TomTom N.V.
- Continental
AG
- Delphi
Technologies
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.
South Korea Automotive Navigation Systems
Market 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.
South Korea Automotive Navigation
Systems Market Segmentation
The MRFR report highlights an inclusive segmental
analysis of the global South Korea Automotive Navigation Systems Market Size
based on sales channel, propulsion, vehicle type, and device type.
·
By device type, the
global South Korea Automotive Navigation Systems Market Size 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 South Korea Automotive Navigation Systems Market Size 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 South Korea Automotive Navigation Systems Market Size 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 South Korea Automotive Navigation Systems Market Size 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.
South Korea Automotive Navigation Systems Market Regional
Analysis
By region, the global South Korea Automotive
Navigation Systems Market Size 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 South Korea Automotive
Navigation Systems Market Size growth in the region.
The global South Korea Automotive Navigation
Systems Market Size 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 South Korea Automotive Navigation
Systems Market Size 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 Size in the RoW is predicted to have sound growth
over the forecast period.
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