navigation system market size, navigation system market share, navigation system market trend, navigation system market forecast, navigation system market outlook, navigation system market statistics
How big is the navigation system market today, and what are its future growth expectations?
The navigation system market size has grown strongly in recent years. It will grow from $36.55 billion in 2024 to $39.35 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to development of modern electronic navigation systems, developing in-car navigation technology for automobiles, google maps and navigation apps, smart cities integration, v2x communication, intelligent transportation system (ITS).
The navigation system market size is expected to see strong growth in the next few years. It will grow to $49.51 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to augmented reality (AR) navigation, autonomous vehicles and navigation, 5G connectivity, multi-constellation GNSS integration, environmental navigation considerations. Major trends in the forecast period include global navigation satellite system GNSS autonomous navigation, GPS navigation systems, intelligent traffic management, predictive analytics for traffic, robust indoor navigation.
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How has the navigation system market evolved, and what factors have shaped its growth?
The rising production of autonomous vehicles is expected to propel the growth of the navigation system market going forward. Autonomous vehicles specifically refer to vehicles capable of self-driving without human intervention by leveraging autonomous capabilities, depending on the level of automation integrated into their systems. Navigation systems in autonomous vehicles provide route planning and guidance without human intervention, while in passenger vehicles, they assist drivers in navigating to desired destinations. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles or self-driving cars on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the rising production of autonomous vehicles is driving the navigation system market.
What are the major segments of the navigation system market?
The navigation system market covered in this report is segmented –
1) By Type: Satellite Navigation Systems, Surgical Navigation Systems, Inertial Navigation Systems, Other Types
2) By Technology: Radio Frequency Identification Based (RFID), Cellular, Network, Bluetooth, Remote Sensing Market Research, Real Time Kinetic, Other Technologies
3) By Application: Healthcare, Aerospace, Automotive, Marine, Intelligent Transport Systems, Agriculture And Farming, Other Applications
Subsegments:
1) By Satellite Navigation Systems: Global Positioning System (GPS), Global Navigation Satellite System (GNSS), Galileo, BeiDou
2) By Surgical Navigation Systems: Optical Navigation Systems, Electromagnetic Navigation Systems, Robotic-Assisted Navigation Systems
3) By Inertial Navigation Systems: Ring Laser Gyroscope (RLG) Systems, Fiber Optic Gyroscope (FOG) Systems, Micro-Electro-Mechanical Systems (MEMS)
4) By Other Types: Terrestrial Navigation Systems, Radio Navigation Systems, Hybrid Navigation Systems
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Which companies dominate the navigation system market?
Major companies operating in the navigation system market are Mitsubishi Electric Corporation, Robert Bosch GmbH, Raytheon Technologies, Lockheed Martin Corporation, Panasonic Corporation, Denso Corporation, Qualcomm Technologies Inc., Northrop Grumman Corporation, Honeywell International Inc., Aisin Aw Co. Ltd., Safran Electronics & Defense Inc., Collins Aerospace Inc., Aptiv, L3Harris Technologies, Harman International Industries, Garmin Ltd., Visteon Corporation, Trimble Inc., Luxoft Holding Inc., Jvc Kenwood Holdings Inc., Pioneer Corporation, Here International B.V., Clarion, FURUNO ELECTRIC CO. LTD., Tomtom NV, Nng Global Infotainment Technologies, NovAtel Inc., KVH Industries Inc., Telenav Inc., Alpine Electronics
How will evolving trends contribute to the growth of the navigation system market?
Major companies in the navigation system market are focusing on developing advanced technological solutions such as portable navigation tools to enhance user convenience, accuracy, and real-time adaptability. Portable navigation tools are compact devices or applications that offer real-time location tracking, directions, and mapping Market Research, often powered by GPS technology. These tools are designed for easy portability and are commonly used in vehicles, smartphones, or handheld devices for various personal, recreational, or professional navigation purposes. For instance, in May 2023, Elena Geo Systems, an India-based technology company, launched a handheld NavIC-based navigation device. This device aims to provide tailored navigation solutions for various Market Research, including cab aggregators and defense forces, by utilizing India’s indigenous NavIC satellite system. The launch aims to promote the use of NavIC technology for more accurate and efficient navigation solutions, enhancing mobile applications similar to Google Maps.
What are the key regional dynamics of the navigation system market, and which region leads in market share?
North America was the largest region in the navigation system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the navigation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Navigation System Market Report 2025 Offer?
The navigation system market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A navigation system is an electronic or computing system that aids in determining the position of a vehicle or vessel and provides real-time directions to a specific destination. Navigation systems may utilize various technologies, such as satellite signals, digital maps, and built-in compasses, to provide accurate real-time directions.
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