July 15, 2020

Car Navigation Systems Market| COVID-19 Impact, Growth, Segments and Future Forecast To 2023

Summary

Global Car Navigation Systems Market Information Report: Information by Device Type (In-Dash, Portable and Mobile Navigation System), by Vehicle Type (passenger Car and Commercial Vehicle), by Propulsion (ICE and Electric Vehicle), by Sales Channel (OEM and Aftermarket) and by Region (North America, Asia Pacific, Europe and RoW) - Forecast to 2025

Car Navigation Systems Market Dynamics

With the growing menace of traffic congestion all over the world, mostly in urban areas, the need for Car Navigation Systems has risen substantially in recent years. Changing consumer behavior towards enhanced in-dash features is another factor working in favor of the Car Navigation Systems market. The navigation systems market has constantly been evolving with the boost in developments, especially after the introduction of the Global Positioning System (GPS) satellites around the Earth’s orbit.

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Top Companies

HERE Technologies (US), NNG Software Developing, and Commercial Llc. (Hungary), Clarion Corporation (US), Continental AG (Germany), Delphi Technologies (UK)

Market Segmentation

The worldwide Car Navigation Systems market has been studied by categorizing it into segments like device type, vehicle type, sales channel, and propulsion.

With respect to the device type, the market includes in-dash, portable, and mobile navigation system. Out of these, in-dash navigation system was found to be the leading segment in 2018, followed by portable and mobile system.

Depending on the sales channel, the market can be considered for original equipment manufacturers (OEMs) and aftermarket. Between thesem, the OEM segment led the market in 2018, whereas the aftermarket segment has a higher chance of growing at a better rate during the forecast period.

Regional Insight

North America, Europe, Asia Pacific (APAC), and the rest of the world (RoW) are the primary markets for Car Navigation Systems identified in the MRFR report.

In 2018, APAC held the largest share in the market, revenue-wise. The region is also predicted to record the highest CAGR during the evaluation period. Soaring demands from dependent sectors such as taxi services, logistics, and e-commerce that need the location of various addresses have benefitted the regional market in a big way. Also, mounting demand for rentals car services such as Ola and Uber has stimulated market growth in the region. The region is a source of extra interest as it consists of huge markets with high sales growth potential as well as vital automotive manufacturing hubs.

In light of increasing partnerships and advancing navigation infrastructure, the Car Navigation Systems in Europe has managed to amass a sizeable portion of the global market. Safety and security service in the region is touted to be the biggest contributor to the automotive market, keeping in mind the fact that navigation is a safety measure in vehicles. As a consequence, government authorities in the region are striving to ensure that every car is connected with GPS systems.

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