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The Global Automotive Navigation
Systems Market report presents comprehensive information covering insightful
data for businesses and investors for the time period of 2021-2030. The report
studies the historical data of the Automotive Navigation Systems market and offers
valuable information about the key segments and sub-segments, revenue
generation, demand and supply scenario, trends, and other vital aspects. The
report offers an accurate forecast estimation of the Automotive Navigation
Systems industry based on the recent technological and research advancements.
It also offers valuable data to assist the investors in formulating strategic
business investment plans and capitalize on the emerging growth prospects in
the Automotive Navigation Systems market.
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.
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Prominent Players Analyzed in the Report:
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, Others
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.
Use of connected cars has increased over the past few years. Connected cars are connected to Internet and share data with any external device or service. Moreover, GPS technology is used in connected cars to offer navigation services, for calculating quickest routes while taking into consideration real-time traffic conditions to prevent traffic jams. Use of GPS systems helps in development of precise navigation systems, self-driving cars and assisted driving, automated eCall distress signals, and intelligent speed adaptation. Thus, rapid development of connected cars is likely to drive growth of the market for automotive navigation systems.
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.
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Passenger cars segment is expected to lead in terms of revenue growth rate during the forecast period. Passenger cars are equipped with navigation systems that are either mounted atop or built into dashboard. These factory-installed navigation systems offer better accuracy, more functions, and better integration than smartphone navigation. Increasing production of passenger vehicles is resulting in demand for navigation systems.
Aftermarket segment is expected to register a steady revenue growth rate during the forecast period. Older cars that do not come with a factory-fitted navigation system can be fitted with an aftermarket navigation system on their dashboard or a portable navigation system can be used. With increasing e-commerce sector, e-commerce enterprises are under pressure to deliver products to their clients on time. For Business to Customer (B2C) distribution, several e-commerce enterprises are creating agreements with current logistic suppliers. Logistics companies have been extending their services to meet this demand by adding more vehicles to their fleets. To reach their customers on time, these trucks were generally outfitted with satellite navigation systems.
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.
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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:
Overview of the Automotive Navigation Systems Market Report:
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