A navigation system is among the most essential systems utilized in automobiles for the purpose of route mapping. Its purpose is to supervise and manage the movement of the vehicle and as it makes its way from one location to another.
The global automotive navigation system market has seen a significant growth in the last couple of years and is expected to remain in the growing phase till forecast period. The global automotive navigation system market is expected to grow with a CAGR of 8.85% over the forecast period.
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The global automotive navigation system market is majorly influenced by factors such as growth of automotive industry, increase in traffic congestion, increasing adoption of car GPS navigation system, growing population, growing demand for real-time traffic data, and growing investment for the development of automotive infrastructure in emerging countries. Over the last few years, there has been an increase in the need for accuracy in navigation. As a result, the demand for automotive navigation system industry has increased steadily. Moreover, in the last few years, the navigation technology has advanced in a significant manner, which has made the journey much easier and safer. The high price of in-dash navigation systems and the lack of telecommunications and connectivity infrastructure are hindering the growth of the market. The rapidly progressing economy in developing countries, changing lifestyles, and rising purchasing power of people along with the rapid development of connected cars and autonomous vehicles infrastructure and the increasing demand for fleet management are factors that offer the market ample opportunity to grow in the global automotive navigation system market.
The Prominent Players in the global automotive navigation system include 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).
For this study, the global automotive navigation system market has been segmented based on device type, vehicle type, sales channel, propulsion, and region. On the basis of device type, the global market has been segmented into in-dash, portable, and mobile navigation system. Among these types, in-dash navigation system accounted the largest market share, in 2018, followed by portable and mobile system. On the basis of vehicle type, the global market has been divided into passenger car and commercial vehicle. The passenger car segment registered the largest market share in 2018 and is expected to hold the largest share throughout the forecast period. On the basis of propulsion, the global market has been divided into ICE and electric vehicle. The ICE segment registered the largest market share in 2018 and expected to hold the largest share throughout the forecast period, whereas electric vehicle segment is expected to witness higher growth during the forecast period. On the basis of sales channel, the global market has been divided into OEM and aftermarket. The OEM segment dominated the market in 2018, whereas aftermarket segment is expected to witness higher growth during the forecast period.
Region-wise, the global automotive navigation system market has been segmented as North America, Asia Pacific, Europe, and RoW region. Among these regions, Asia-Pacific accounted the largest market share in 2018 in terms of revenue and is expected to register the highest CAGR over the forecast period, owing to the presence of a large number of manufacturers. Additionally, the rapid technological advancements and rising demand for commercial voyage, are expected to create a lucrative opportunity for the market. North America is expected to witness a significant growth over the forecast period, due to the growing passenger car market in US and Canada.
The report for global automotive navigation system market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical, and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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