Car Navigation Systems Market Size, Share, Current Trends, Industry Demand, Regional Outlook and Forecast to 2025
Car Navigation Systems Market Dynamics
A navigation system is a satellite-based system that is used in automobiles to determine the position of a vehicle and the route to a particular place. A navigation system instructs the driver turn left or right at a particular junction to reach his/her destination. It also helps improve safety and the driving experience. The navigation system is one of the most significant discoveries in wireless telecommunication industry and is comprises a Global Positioning System (GPS).
A latest exhaustive analysis of the global automotive navigation system market by Market Research Future (MRFR) estimates its growth rate to be 8.85% during the forecast period (2018-2025).
Top Companies
HERE Technologies (US), NNG Software Developing, and Commercial Llc. (Hungary), Clarion Corporation (US), Continental AG (Germany), Delphi Technologies (UK), Robert Bosch GmbH (Germany), Garmin Ltd (US), Harman International Industries, Inc. (US), Alpine Electronics, Inc., (Japan), AISIN SEIKI Co., Ltd (Japan), Pioneer Corporation (US), TomTom N.V. (US), Telenav, Inc. (US), JVC Kenwood
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.
The types of vehicles that use navigation systems are passenger car and commercial vehicle. The passenger car segment recorded the highest revenue in 2018 and data experts predict it to retain its position throughout the review 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.
North America can note substantial growth in the years to come, on account of the rising passenger car market, especially in the United States (US) and Canada. Integration of smartphones with in-vehicle systems (IVS) stands as a chief factor that benefits the Car Navigation Systems market in the region.
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