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Automotive navigation systems market- Market Segmentation, Growth Potential, Comprehensive Analysis, Technological Advancement,

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kiran magdum
Automotive navigation systems market- Market Segmentation, Growth Potential, Comprehensive Analysis, Technological Advancement,

Market Analysis 

The global automotive navigation systems market is predicted to grow at a healthy 8.85% CAGR between 2019- 2025, reveals the current Market Research Future (MRFR) report. A navigation system is a system that is satellite-based used in vehicles for determining its position and the route to a specific place. It instructs the driver to turn right or left at a specific junction to reach their destination. This system also improves the driving experience and safety. 

 

On the flip side, the high cost of navigation technology coupled with underdeveloped telecommunication infrastructure may impede the global automotive navigation systems market growth over the forecast period. 

 

Several factors are adding to the global automotive navigation systems market. Some of these factors, according to the MRFR report, include the growing demand for semi-autonomous and autonomous cars, increasing concern for vehicle and driver safety, rapid adoption of these systems in commercial and passenger cars in India and China, lack of parking space, and growing support from the government to reduce road accidents. 

 

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COVID-19 Analysis 

The COVID-19 pandemic has cast its shadow on almost every industry, with the automotive navigation system market being no different. Lockdowns and social distancing trends imposed by the government during the first quarter of 2020 had a negative impact on the automotive industry. Manufacturing facilities were shut, there was a halt in production, and disruptions in the supply chain were also experienced. But with the gradual lifting of the lockdown, things have started to go back to normal. People are using cars not only for essential needs but also for long drives. All these are likely to have a positive impact on market growth. 

 

Market Segmentation 

The MRFR report highlights an inclusive segmental analysis of the global automotive navigation systems market based on sales channel, propulsion, vehicle type, and device type. 

 

By vehicle type, the global automotive navigation systems market is segmented into commercial vehicle and passenger cars. Of these, the passenger car segment will dominate the market over the forecast period. 

 

By propulsion, the global automotive navigation systems market is segmented into electric vehicle and ICE. Of these, the ICE segment will spearhead the market over the forecast period, while the electric vehicle segment will grow at a high CAGR. 

 

By device type, the global automotive navigation systems market is segmented into mobile navigation system, portable, and in-dash navigation system. Of these, the in-dash navigation system will lead the market over the forecast period. 

 

By sales channel, the global automotive navigation systems market is segmented into aftermarket and OEM. Of these, the OEM segment will have the lion’s share in the market over the forecast period, while the aftermarket segment will grow at a high CAGR. 

 

Regional Analysis 

By region, the global automotive navigation systems market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will dominate the market over the forecast period. The presence of a large number of manufacturers, rapid technological advances, the growing need for the commercial voyage, rising automobile production in Japan, South Korea, India, and China, rising population, people’s rising purchasing power, infrastructure development, and rapid industrialization are adding to the global automotive navigation systems market growth in the region. 

 

The global automotive navigation systems market in North America is predicted to have healthy growth over the forecast period for the developing passenger market in Canada and the US. 

 

The global automotive navigation systems market in Europe is predicted to have the second-largest share over the forecast period for the presence of several key players like Continental AG (Germany) and Robert Bosch GmbH (Germany). 

 

The global automotive navigation systems market in the RoW is predicted to have sound growth over the forecast period. 

 

Key Players 

The notable players profiled in the global automotive navigation systems market report include Robert Bosch GmbH (Germany), NNG Software Developing and Commercial Llc. (Hungary), TomTom N.V. (US), Telenav, Inc. (US), Pioneer Corporation (US), JVC Kenwood Corporation (Japan), HERE Technologies (US), Harman International Industries, Inc. (US), Garmin Ltd (US), Denso Corporation (Japan), Delphi Technologies (UK), Continental AG (Germany), Clarion Corporation (US), AISIN SEIKI Co., Ltd (Japan), and Alpine Electronics, Inc., (Japan). 

 

Industry Updates 

 

January 2021- HERE has entered into a strategic partnership with Mitsubishi Corporation to allow better mobile navigation systems & location-based advertisements in entertainment facilities and airports. 

Continued………

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Browse Report Details @ https://www.marketresearchfuture.com/reports/automotive-navigation-systems-market-7865

About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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Magarpatta Road, Hadapsar

Pune - 411028

Maharashtra, India

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