Overview and Scope
Automotive navigation systems refer to technology-integrated systems designed to assist drivers in navigating from one location to another. These systems provide real-time directions, maps, and other relevant information to help drivers reach their destinations efficiently. These systems typically rely on GPS (Global Positioning System) technology to ascertain the vehicle’s present location and offer precise instructions to a specified place.
Sizing and Forecast
The automotive navigation systems market size has grown strongly in recent years. It will grow from $34.01 billion in 2023 to $36.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to consumer demand for convenience, increasing traffic congestion, government regulations on safety, rise in urbanization, improved mapping and location services.
The automotive navigation systems market size is expected to see strong growth in the next few years. It will grow to $46.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increased focus on predictive navigation, rising demand for electric vehicles (EVs), enhanced user interfaces, integration with smart city infrastructure, and demand for personalized and context-aware services. Major trends in the forecast period include augmented reality (AR) integration, connected car ecosystem, voice-activated navigation, predictive navigation, integration with smartphones, 3D mapping and visualization, integration with advanced driver assistance systems (ADAS).
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Segmentation & Regional Insights
The automotive navigation systems market covered in this report is segmented –
1) By Component: Hardware, Software, Connectivity
2) By Navigation modes: 3D Navigation, 2D Navigation, Differential Global Positioning System (DGPS)
3) By Vehicle Type: Passenger cars, Commercial vehicles
4) By Sales Channel: Original Equipment Manufacturer, Aftermarket
5) By Applications: Car Navigations, Dynamic Vehicle Routing, Tracking Rental Cars, Monitoring High Risk Auto Loans
North America was the largest region in the automotive navigation systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive navigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing number of vehicles is expected to propel the growth of the automotive navigation systems market going forward. Vehicles refer to any machine designed or used for transporting people or goods, typically on land, such as cars, trucks, buses, motorcycles, bicycles, and more. Automotive navigation systems are used in vehicles to provide real-time directions, location information, on-the-fly traffic updates, and guidance to reach their destination efficiently and safely. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, the global production of motor vehicles reached 85.4 million units in 2022, reflecting a notable increase of 5.7% compared to 2021. Furthermore, according to Brand Finance plc, a UK-based brand valuation company, the automobile sector achieved approximately 78 million unit sales in 2022, marking a substantial 10% increase compared to both 2021 and 2020. Therefore, the growing number of vehicles is driving the growth of the automotive navigation system market.
Key Industry Players
Major companies operating in the automotive navigation systems market are Ford Motor Company, BMW Group, Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, AISIN SEIKI Co. Ltd., Fujitsu Limited, Mitsubishi Motors Corporation, Harman International Industries, Garmin Ltd., Bose Corporation, JVCKENWOOD Corporation, Kenwood Corporation, HERE Technologies, MiTAC Holdings Corp., Pioneer Electronics, TomTom International BV , NNG Software Developing and Commercial LLC, Telenav Inc., clarion technologies, Delphi Technologies, Faurecia Clarion, Alpine Electronics, Navis-AMS
The automotive navigation systems market report table of contents includes:
- Executive Summary
- Automotive Navigation Systems Market Characteristics
- Automotive Navigation Systems Market Trends And Strategies
- Automotive Navigation Systems Market – Macro Economic Scenario
- Global Automotive Navigation Systems Market Size and Growth
- Automotive Navigation Systems Market Segmentation
- Automotive Navigation Systems Market Regional And Country Analysis
………………
- Key Mergers And Acquisitions In The Automotive Navigation Systems Market
- Automotive Navigation Systems Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Automotive Navigation Systems Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Automotive Navigation Systems Market, Segmentation By Navigation modes, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Automotive Navigation Systems Market, Segmentation By Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……….
Table 76: Ford Motor Company Financial Performance
Table 77: BMW Group Financial Performance
Table 78: Robert Bosch GmbH Financial Performance
Table 79: Panasonic Corporation Financial Performance
Table 80: Denso Corporation Financial Performance
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