Global automotive navigation systems market is projected to surpass $ 6 billion by 2024
Global Automotive Navigation Systems Market By Vehicle Type (Passenger Car & CV), By Device Type (In-Dash Navigation System & Portable Navigation Devices), By Distribution Channel (OEM & Aftermarket), By Region, Competition, Forecast & Opportunities, 2024
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NEW YORK, Sept. 9, 2019 /PRNewswire/ -- Global automotive navigation systems market is projected to surpass $ 6 billion by 2024, on account of increasing need for monitoring real-time traffic.Automotive navigation systems make use of computer mapping techniques and global positioning device (GPS) to give three-dimensional view which includes information, velocity and time.
Shift in consumer demand, government regulations and growing traction of ride hailing apps such as Ola, Uber and Grab are expected to push the market. Moreover, sectors such as e-commerce, taxi and logistics rely on navigation systems for locating various addresses, as automotive navigation systems help to locate traffic on highways and roadways as well as suggest different routes based on the real-time traffic.
Global automotive navigation systems market can be segmented based on vehicle type, device type and distribution channel.In-dash navigation system and portable navigation device are the types of navigation systems available in the global market.
Portable navigation device is anticipated to acquire the majority share during the forecast period as they are lower in cost and can be moved from one automobile to other.OEM and aftermarket are major distribution channels.
The demand for portable navigation systems is high in the aftermarket and the trend is likely to continue during the forecast period.
Regionally, the market for automotive navigation systems is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa.Asia-Pacific, closely followed by Europe, are the leading regions in global automotive navigation systems market.
Asia Pacific is likely to witness high demand for automotive navigation systems in coming years, on account of high level of industrialization and urbanization. Moreover, economies in the region such as China, Japan, India have well established automotive industry, and the cars come equipped with navigation systems in order to support other ADAS systems, which is contributing to its high share in the market.
Major players operating in global automotive navigation systems market include Tomtom, Garmin, Pioneer, Alpine, among others.Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.
Other competitive strategies include mergers & acquisitions and new product development. For instance, Robert Bosch GmbH has introduced a new navigation solution for fleet companies and collaborated with TomTom International BV to develop Radar Road Signature.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast global automotive navigation systems market size.
• To classify and forecast global automotive navigation systems market based on vehicle type, device type, distribution channel and regional distribution.
• To identify drivers and challenges for global automotive navigation systems market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global automotive navigation systems market.
• To conduct the pricing analysis for global automotive navigation systems market.
• To identify and analyze the profile of leading players operating in global automotive navigation systems market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined manufacturers and distribution channels along with the presence of all major manufacturers across the globe.
The analyst calculated global automotive navigation systems market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Automotive navigation system providers and other stakeholders
• Automotive OEMs
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to automotive navigation systems
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global automotive navigation systems market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Vehicle Type:
o Passenger Car
o Commercial Vehicle
• Market, by Device Type:
o In-Dash Navigation System
o Portable Navigation Devices
• Market, by Distribution Channel:
o OEM
o Aftermarket
• Market, by Region:
o Asia-Pacific
China
India
Japan
Australia
New Zealand
o Europe
Germany
United Kingdom
France
Spain
Italy
o North America
United States
Mexico
Canada
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Qatar
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global automotive navigation systems market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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