A vehicle's current location is provided along with real-time navigation in accordance with predetermined directions. Depending on the situation, passenger cars, small commercial vehicles, and large commercial vehicles can all employ automobile navigation systems. With their widespread use, installation in electrical vehicles, and adoption, the sales prediction for automobile navigation systems in the future seems incredible.
According to MRFR analysis, the global Automotive Navigation Systems Market is expected to register a CAGR of ~7.9% from 2022 to 2030 and hold a value of over USD 30.13 Billion by 2030.
A navigation system is a crucial piece of equipment used in cars for route planning. Its function is to monitor and control the vehicle's motion while it travels from one place to another. The market for automobile navigation systems has shown rapid growth over the past few years and is anticipated to continue expanding throughout the forecast period. The development of the automotive industry, rising levels of traffic congestion, rising consumer demand for real-time traffic data, rising adoption of car GPS navigation systems, and rising investments in the construction of automotive infrastructure in developing nations are all factors that have a significant impact on the global market for automotive navigation systems.
Regional Analysis
The Automotive Navigation Systems market is expected to be dominated by the Asia Pacific region. Due to emerging nations like China and India, which are more likely to use high-end automotive components like navigation systems, Asia-Pacific is expected to have a large CAGR throughout the study period. Furthermore, the expansion of the Automotive Navigation Systems market is anticipated to be aided by the region's quick industrialization as a result of its affordable production costs.
Due to increased per capita disposable income, there has been a steady increase in the usage of cars in Europe. It is believed that the presence of significant automakers in the area, such as Mitsubishi Trucks, PSA Peugeot Citroen, Isuzu, and Volkswagen, would open up new business prospects for local auto part suppliers and manufacturers.
Market Segmentation
The Global Automotive Navigation Systems market has been segmented into Device Type, Vehicle Type, Propulsion, and Sales Channel.
Based on the Device Type, the market has been segmented into In-Dash, Portable, and Mobile Navigation Systems.
Based on the Vehicle Type, the market has been segmented into Passenger Cars and Commercial Vehicle.
Based on the Propulsion, the market has been segmented into ICE and Electric Vehicles.
Based on the Sales Channel, the market has been segmented into OEM and Aftermarket.
Key Players
Some of the key market players are Continental, Robert Bosch GmbH, Alpine, Denso, Faurecia Clarion, Aisin Seiki, Garmin Ltd., TomTom, Harman, NNG Software, HERE Technologies, Pioneer, JVC Kenwood, and Telenav.
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