Automotive Navigation Systems Market Size was evaluated at USD 34.70 billion in 2022 and is predicted to reach USD 60.51 billion by 2030, growing at a 7.2% CAGR from 2023 to 2030.
Navigation systems offer optimum paths from one site to another. It is mostly supported by external technology such as the Global Positioning System (GPS) and satellite-based radio navigation systems. GPS provides numerous advantages, including excellent accuracy, usability, reliability, and self-calibration. However, GPS can only be used outdoors. The practice of merging data from multiple sources to improve overall outcomes is widely employed in many fields. GIS has been combined with GPS to enable visualization and implementation elements of a specific site. The navigation systems market is rising due to its high reliability and scalability, driving the CAGR.
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Furthermore, an automotive navigation system is a navigation system for automobiles. Major luxury automakers provide dashboards and aftermarket parts. These are used as positioning systems to aid with vehicle tracking and localization. The main businesses that use these technologies are transportation and logistics, which have a wide range of vehicles. The increasing usage of wireless communication technologies has had a significant role in the market. Wireless communication technologies encompass a wide range of IT equipment, including Wi-Fi, Bluetooth, ZigBee, and cellular networks. Furthermore, there is an increase in demand for vehicles with sophisticated safety and navigation capabilities, a need for reliable real-time traffic information, the rapid development of connected cars, and the acceptance of car-sharing and ride-hailing services, particularly in developing countries.
Leading market players are investing extensively in R&D to broaden their product offerings, which will help the automotive navigation systems market grow even more. Market participants are also engaging in a number of strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To grow and thrive in a more competitive and expanding market, the automobile navigation systems business must offer low-cost products.
Key Companies of Automotive Navigation Systems Market
-Continental
-Alpine
-Robert Bosch GmbH
-Denso
-Aisin Seiki
-Faurecia Clarion
-Garmin Ltd.
-NNG Software
-TomTom
-Harman
-HERE Technologies
-JVC Kenwood
-Pioneer
Market Segmentation
By Device Type:
-In-dash Navigation System
-Portable Navigation System
-Mobile Navigation System
By Vehicle Type:
-Passenger cars
-Commercial vehicles
By Sales Channel:
-OEM
-Aftermarket
Key benefits of the report:
- This study presents analytical depiction of the global Automotive Navigation Systems market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Automotive Navigation Systems market share.
- The current market is quantitatively analyzed to highlight the global Automotive Navigation Systems market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Automotive Navigation Systems market analysis based on the present and future competitive intensity of the market.
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