The Global Automotive Navigation System Market is expecting around 8% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. The increasing vehicle sales worldwide, principally due to the swift improvement in economic conditions & growing consumer inclination toward private ownership of vehicles, is leading to issues like congestion, especially across urban areas. It, in turn, is instigating automotive manufacturers to develop & deploy navigation systems in their products and hence, driving the global market.
Due to the growing adoption of these systems in vehicles to attain real-time information about traffic, alternate routes, & other updates, the demand for automotive navigation systems is escalating swiftly worldwide. Moreover, the mounting demand for new features & technological advancements in automotive navigation systems is encouraging leading players to invest in bringing innovations in their product offerings, which would further boost the global market in the years to come, states the research report, “Global Automotive Navigation System Market Analysis, 2022.”
Increasing Private Vehicle Ownership to Stimulate the Market Growth through 2027
Passenger Cars are expecting the largest share in the Global Automotive Navigation System Market during 2022-27. The growing technological advancements in the automotive sector and the rapidly expanding vehicle fleet due to improving purchasing power & changing living standards of people are the prime aspects driving the sales of passenger cars worldwide and, consequently, automotive navigation systems.
Besides, the escalating deployment of navigation systems, owing to the surging consumer demand for features like real-time traffic updates, shortest routes, alternate roads, etc., and an enhanced driving experience, are also projecting lucrative prospects for the global market through 2027, reveals MarkNtel Advisors in their research report, "Global Automotive Navigation System Market Analysis, 2022."
The leading players in the Global Automotive Navigation System Market are Samsung, MediaTek, Texas Instruments, Denso Corporations, Delphi Automotive Plc., Clarion Corporation, Alpine Electronics Inc., Garmin, Mitsubishi Electric Corporation, and Harman International Industries Inc.
Key Questions Answered in the Research Report