Automotive Navigation System Market is Grow at CAGR of 8.85% by Forecast to 2023, Assets to MRFR

Automotive Navigation System Market is expected to grow with a CAGR of 8.85% over the forecast period. Automotive Navigation Systems Market Information Report: Information by Device Type (In-Dash, Portable and Mobile Navigation System), by Vehicle Type (passenger Car and Commercial Vehicle), by Propulsion (ICE and Electric Vehicle), by Sales Channel (OEM and Aftermarket).


Pune, India, July 25, 2019 (GLOBE NEWSWIRE) -- Automotive Navigation System Market Highlights:

Market Research Future (MRFR) contains drivers, restraints, and opportunities engulfing the market of the global automotive navigation system market.

Navigation systems are in-built systems used by owners to traverse through difficult landscapes. Automotive navigation systems are integrated by car makers in their products for their customers to reach their destination safely using the quickest route possible. It uses the global positioning system (GPS) and coordinated with satellites to gain the vehicle’s location to provide step-by-step directions to the final destination.

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Competitive Outlook:

Prominent names in the global automotive navigation system market include TomTom N.V., Delphi Technologies, Telenav, Inc., Alpine Electronics, Inc., Denso Corporation, AISIN SEIKI Co., Ltd, Garmin Ltd, Pioneer Corporation, NNG Software Developing and Commercial Llc., Robert Bosch GmbH, Clarion Corporation, Continental AG, HERE Technologies, Harman International Industries, Inc., JVC Kenwood Corporation, and others.

Market Outlook:

The global automotive navigation system market is estimated to exhibit 8.85% CAGR from 2019 to 2025 (forecast period). The resurgence of the automotive industry coupled with the heightened production of cars, growing population, rise in traffic congestion, and investments in improving vehicle infrastructure can drive the market growth. Developments in advancing the navigation technology as well as demand for accuracy by car drivers can propel the market demand. This is exemplified by Garmin International, manufacturer of GPS devices, with Amazon, creator of Alexa, a virtual assistant, in 2018.

In addition, government policies mandating the integration of navigation systems in cars can be a viable driver of growth. The rapid economic growth of developing economies, changing lifestyles of customers, and a noticeable surge in purchasing power of car owners are other significant market drivers. 

Lack of telecommunication and connectivity infrastructure in selected countries can hinder its growth.

Segmentation Analysis:

The global Automotive Navigation System Market report is broken down on the basis of device type, propulsion, vehicle type, and sales channel.

By device type, it is segmented into mobile, portable, and in dash navigation systems. The in dash navigation systems segment is expected to exhibit phenomenal growth due to preference of these systems by insurance companies. The trend of connected and autonomous cars can facilitate the growth of the segment till 2025.

By propulsion, it is segmented into electric vehicle and internal combustion engine. The latter held a sizeable market share due to dependence on these core components for attaining power. But the former is likely to gain speed by the end of the forecast period due to policies encouraging the production of electric vehicles and establishment of electric charging infrastructure.

By vehicle type, it is segmented into commercial vehicle and passenger car. The passenger car segment accounted for the lion’share due to high sales of these cars.

By sales channel, it is bifurcated into original equipment manufacturer (OEM) and aftermarket.

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Regional Analysis:

Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW) are major regions considered in the automotive navigation system market report.

The APAC region generated the maximum revenue for the market in 2018 and will continue in the dominant position till 2025. This can be attributed to the development of changing policies directed at the automotive industry for integration of GPS in cars. This is exemplified by the development of indigenous navigation systems by various countries keeping in focus customer safety. Demand for commercial voyages and rapid technological advances in navigation systems are other drivers of the regional automotive navigation system market.

North America can witness a stupendous growth during the forecast period due to the massive sales of passenger cars in Canada and the U.S. On the other hand, Europe can display a strong growth rate due to the presence of major players such as Continental AG and Robert Bosch. New set of standards by governments in the region to be equipped with the latest communication networking technologies can bode well for the region.

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