Government safety regulations coupled with the growing number of ride-hailing apps such as Ola, Uber, Didi and Grab are expected to fuel the demand for the navigations systems across the world during 2020-25. Taxis, E-commerce delivery and, logistics are dependent on the navigation system for first to last-mile connectivity.
Europe currently dominates the market of navigation systems, followed by North America. Asia-Pacific is anticipated to witness rapid growth due to the highest penetration of the navigation systems in passenger cars in the coming years. The high cost of navigation systems and associated cyber threats are posing as key challenges for the industry.
The passenger car segment is anticipated to grow during the forecast period on an account of deployment in the economy and luxury cars. Portable navigation systems are gaining popularity owing to the relative ease in handling and portability. However, the in-dash navigation systems are installed the most of the high-end luxury cars but the demand for in-dash navigation systems is expected to grow mostly in mid-sized cars.
“Global Automotive Navigation System Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive navigation system providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
According to MarkNtel Advisors’ research report titled “Global Automotive Navigation System Market Analysis, 2020”, the global market is expected to register a CAGR of around 8% during 2020-25. The navigation system market is witnessing a consistent upsurge due to an escalation in the sales of passenger cars.
Recent Developments
According to MarkNtel Advisors, the increased technological advancement in the market of navigation systems and the presence of larger number of OEMs has increased the threat of substitutes. The manufacturers of the navigation systems are involved in various technological advancements for further enhancing the performance of the devices.
For instance, in 2017, Garmin company came into a partnership with Amazon to assimilate Alexa voice assistance into navigation system features. The integration of the in-vehicle infotainment (IVI) systems with audio, DVD/ Blue-ray functions, texting, and other accessible apps along with compatibility with smartphones would further drive the market of the navigation system.
According to MarkNtel Advisors’ research report “Global Automotive Navigation System Market Analysis, 2020”, major leading players in the 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., among others.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What would be the growth rate or CAGR of Global Automotive Navigation System Market during 2020-25?
A. The market size of Global Automotive Navigation System Market during 2020-25 is forecast to be around 8%.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that Europe will dominate the market with majority market share, with market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating in Global Automotive Navigation System Market?
A. Samsung, MediaTek, Texas Instruments, Denso Corporations, Delphi Automotive Plc, Clarion Corporation, Alpine Electronics, Inc., Garmin, Mitsubishi Electric Corporation and Harman International Industries Inc. are few of the leading players in the Global Automotive Navigation Market.
Q. Does the report scope cover Global Automotive System Navigation device type and region wise market statistics also?
A. Yes, the scope of the report encompass detailed Global Automotive Navigation device type and region wise statistics such as market size, market segmentation based on various subcategories.
Q. Which car segment would emerge as an opportunity area for players in Global Automotive System Navigation Market?
A. Passenger car segment continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Automotive Navigation System Market.
