Automotive Advance Car Navigation System Market Set for Rapid Growth During 2019 – 2027

Automotive advance car navigation system: Introduction

  • The automotive navigation system is a part of the vehicle control unit, which helps the driver to navigate to his or her desired destination. Currently, around 20% of new roads are being built every year, speed limits are changing, and street names are being renamed. The advance car navigation system is an efficient approach to help the driver navigate around the world, and ensure maps mirror the world in the face of constant change.
  • Rise in penetration of advance car navigation systems in vehicles is attributed to an increase in technological advances in vehicle navigation system, which enables drivers to roam around the world without the need to carry area-specific maps.

Key drivers of global automotive advance car navigation system market

  • Data regulations enacted across diverse industries including health care, banking, and insurance and demand for safety are boosting the demand for automotive advance car navigation system globally
  • Advancements in vehicle navigation system technologies is likely to boost the automotive advance car navigation system market. Such developments in vehicle navigation system based on global positioning system (GPS), mobile smartphones and tablets, and IoT devices are driving the adoption of automotive advance car navigation system, which in turn is boosting the global market.

Asia Pacific to hold prominent share of automotive advance navigation system

  • Key global players, such as Garmin and Alpine Electronics, have presence in Asia Pacific, which is also expected to propel the demand for automotive vehicle navigation system. New entrants in the automotive market in China, India, Japan, and South Korea are likely to influence research and development on the vehicle navigation system in the automotive market in Asia Pacific.
  • Several free-trade agreements between Europe-Asia and UAS-Asia have resulted in economic growth of counties such as India, China, Malaysia, and South Korea in Asia Pacific, which has boosted the disposable income and living standards of the population in the region. This, in turn, is shifting consumer preference toward owning a vehicle that is equipped with advance navigation system.

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  • Automakers are focused more on enhancing security and safety of vehicles in order to cater to a rise in consumer demand for safer and secure vehicles. The factors mentioned above drive the global market for automotive advance car navigation system; however, lack of stringent global regulations and vehicle standards still pose a challenge for automakers. Absence of such standards fails to guarantee the life of automotive advance car navigation system.

Key players operating in global automotive advance car navigation system market

The automotive advance car navigation system market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the automotive advance car navigation system market are:

  • Garmin Corporation
  • Pioneer Electronics Pvt Ltd.
  • Alpine electronics Ltd.
  • Fujitsu Pvt Ltd.
  • Ford Motors Pvt Ltd.
  • Apple Inc.
  • Mitsubishi Electronics Ltd.
  • TOMTOM International
  • Kenwood corporation