The automotive navigation system market is expected to grow at a CAGR of around 8% during the forecast period. The integration of smartphones and IVS (In-Vehicle Systems) are the key factors contributing to the growth of the market. In recent years, smartphones have become widespread and demand for smartphone / tablet-based navigation devices is expected to grow. Real-time traffic data, map updates, and smartphone integration are just a few of the key features of automotive navigation systems and could attract significant customer demand over the next few years. In addition, advances in navigation system technology coupled with the increasing concerns related to the problem of traffic congestion, particularly in urban areas, and changing consumer behavior, towards better in-dash features are the key factors driving the growth of the automotive navigation systems market.
Major companies in the industry are DENSO Corporation, Harman International Industries Inc., Clarion Co. Ltd, Continental Reifen Deutschland GmbH, Aisin AW Co. Ltd, TomTom International BV, JVC Kenwood Corporation, Panasonic Corporation, Mitsubishi Electric Corporation.
Market Overview
Navigation systems help the driver of a vehicle to locate a particular destination and identify the best route for getting to that destination. Most automotive navigation systems use Global Positioning System (GPS) signals and electronic maps to identify the vehicle’s current position relative to the desired destination. Advances in navigation system technology coupled with the increasing concerns related to the problem of traffic congestion, particularly in urban areas, and changing consumer behavior, towards better in-dash features. Thus, driving the market for automotive navigation system significantly.
Some of the major players operating in the market include DENSO Corporation, Harman International Industries Inc., Clarion Co. Ltd, Continental Reifen Deutschland GmbH, Aisin AW Co. Ltd, TomTom International BV, JVC Kenwood Corporation, Panasonic Corporation, Mitsubishi Electric Corporation.
COVID-19 Impact
The COVID-19 pandemic has Impacted the global supply chain of semiconductor chips which are heavily used in the hardware of navigation devices, which forced the manufacturers to remove all the high-end features from the device, which made it very basic. However, heavy adoption of electric vehicles is expected to aid in the growth of the Navigation systems market in the forthcoming years.
The global Automotive Navigation System market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on Vehicle Type, the market is bifurcated into passenger cars and commercial vehicles. The Passenger car segment is anticipated to have the highest CAGR in the forecast period. The factor attributed to the growth of the market is augmented passenger vehicle production. The entire production of passenger cars improved in recent years, which is contributing to greater market growth.
- Based on the sales channel, the market is bifurcated into OEM and Aftermarket. The Aftermarket segment is predicted to hold the most significant CAGR in the forecast period. The key factor for the growth of this segment is the higher fitment rate from the aftermarket channels as older cars do not come with an already fitted navigation system. Also, with the rise of eCommerce globally, enterprises are under pressure to deliver products on time, to their client.
Automotive Navigation System Market Geographical Segmentation Includes:
- North America (United States, Canada, and the Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
- Rest of the World
The Asia Pacific is a prominent region in the global automotive navigation systems market and is expected to account for a substantial market share during the forecast period. The presence of large manufacturers in the region, growing urbanization, rising income, and increasing consumer demand are acting as growth catalysts for the industry. Furthermore, the region experienced rapid smartphone adoption, which has given rise to smartphone integration with automotive navigation systems with China and India being the key automotive navigation systems market in this region.
The major players targeting the market include
- Denso Corporation
- Harman International Industries Inc.
- Clarion Co. Ltd
- Continental Reifen
- Deutschland GmbH
- Aisin AW Co. Ltd
- TomTom International BV
- JVC Kenwood Corporation
- Panasonic Corporation
- Mitsubishi Electric Corporation
Automotive Navigation System Market Report
| Report Attribute | Details |
| Base year | 2020 |
| Forecast period | 2021-2027 |
| Growth momentum | Accelerate at a CAGR of 8% |
| Market size 2020 | USD 28 billion |
| Regional analysis | North America, Europe, APAC, Rest of World |
| Major contributing region | APAC to Dominate the Global Automotive Navigation System Market |
| Key countries covered | United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, India, Australia |
| Companies profiled | DENSO Corporation, Harman International Industries Inc., Clarion Co. Ltd, Continental Reifen Deutschland GmbH, Aisin AW Co. Ltd, TomTom International BV, JVC Kenwood Corporation, Panasonic Corporation, Mitsubishi Electric Corporation. |
| Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
| Segments Covered | By Sales Channel; By Vehicle Type; By Region/Country |
Report Link:https://univdatos.com/report/automotive-navigation-systems-market/
