Global Automotive Navigation Systems market size is estimated to be valued over US$ 16.6 billion in 2019 and is projected to register double digit CAGR of 11.3% during the forecast period. Bekryl observes the navigation systems to be an integral part of the automotive systems. It will be available in over 250 vehicles by 2023. Higher surge in demand for navigation systems is primarily attributed to huge android depository and technological advancements. Companies are consistently focusing on contextual navigation based systems. Advancement in artificial intelligence in automotive and deep learning will create next generation GPS systems. Overall, the industry will register huge market opportunity during the forecast period.
Key Trends and Factors Driving Automotive Navigation Systems Market:
- Increasing ride hailing services has propelled the growth of automotive GPS systems. Global on-demand transportation market is worth US$ 91 billion in 2019 and will continue to register double digit growth. These transportation services leverages real time maps as a business model. As such, growth in the segment is likely to scale the GPS systems demand globally.
- Product innovation is one of the key trend witnessed in the market. Navigation in automobile was introduced in 1977 with electronic compass. It then transitioned to electric induced route guidance system in 1995 and now Global Positioning System (GPS). Real time maps has become a norm in the sector. Ongoing road development activities such as opening of new roads, speed limit regulations and renaming of streets/locality demands real time map.
- Embedded Navigation System is becoming popular among automotive users. Companies are developing advanced navigation algorithms and routing logics in order to offer connected navigation. Cloud based solutions is a part of the growing embedded navigation systems. In the last five years, voice enabled embedded GPS systems has largely gained market traction. These systems work as soon as the automotive engine switched on.
- Automotive companies are investing on autonomous vehicle R&D. These vehicle relies on real time mapping in order to drive efficiently. Navigation is core aspect to autonomous vehicles. As per the estimates, autonomous vehicle sales is expected to register 23.7% growth between 2019 and 2028. Such trend is likely to have a positive impact on overall allied segments including navigation system providers.
- While the industry is expected to register impressive growth, it will witness some hurdles in developing region owing to lesser developed telecommunication sectors. Stringent regulations banning new sales of car is also a setback to industry. However, the trend is likely to have negative impact only for a short tenure. In 2017, Singapore banned new car orders from 2018.
Global Automotive Navigation Systems Market Size and Forecast: By Device Type Analysis
Embedded navigation systems to register fastest growth during the forecast period.
As of 2018, automotive navigation systems was dominated by smartphone based navigation systems. Inter connectedness along with easy handling is the key factor driving portable navigation systems worldwide. Embedded systems will register significant growth during the same time period.
Global Automotive Navigation Systems Market Size and Forecast: Regional Analysis
Asia Pacific Automotive Navigation Systems market accounted for 39% of global sales in 2018
Asia Pacific registered highest car sales in 2018. Higher car sales is primarily attributed to increasing per capita income along with improving road and transport infrastructure. Digitization is playing a key role in automotive sector. Furthermore, Asia Pacific has emerged as one of the leading destination for ride hailing services. This in turn has strengthened the demand for automotive navigation market in the region. China followed by India are major destination in Asia Pacific.
Global Automotive Navigation Systems Market Size and Forecast: Competition Landscape
Some key Automotive Navigation Systems market players are:
- Aisin Seiki Co. Ltd.
- Garmin Ltd.
- Delphi Technologies
- Bose Corporation
- Tom-Tom NV
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- HERE Technologies
- Continental AG
- Alpine Electronics Inc.
- Pioneer Corporation
By Product Type:
- Smartphone Based Devices
By Distribution Channel:
What Will You Discover in the Report?
- An in-depth analysis of the Automotive Navigation Systems market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Automotive Navigation Systems market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Automotive Navigation Systems market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Automotive Navigation Systems industry during the forecast period
- Who are the Automotive Navigation Systems industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Automotive Navigation Systems Industry Suppliers
- Automotive Navigation Systems Industry Manufacturers
- Consultants and Analysts
- Industry Specialists
Analyst access with Bekryl Market Analysts
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