The global automotive navigation system market is anticipated to grow at a significant CAGR of 6.7% during the forecast period (2022-2028). An automotive navigation system is a component of the vehicle’s controls or a third-party add-on that enables drivers to find their way around. Automobile navigation can use GPS (Global Positioning System) or DVD or data-based navigation. The market has been expanded to include an integrated automobile navigation system. Smartphones are compatible with integrated automobile navigation systems that combine entertainment capabilities such as audio and DVD/Blu-ray disc players, additionally, as navigation and telematics system functions.
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One of the key reasons for the growth of the automotive navigation systems market includes the integration of smartphones with IVS (in-vehicle systems). Smartphone adoption has risen in recent years, which is projected to drive up demand for smartphone/tablet-based navigation devices. Connected automobiles will be in great demand due to increased consumer desire for wireless connectivity and mobile internet. As a result, suppliers of the automotive industry are likely to adopt new digital technologies and integrate in-care internet connectivity options, resulting in increased demand for automotive navigation systems. The market for automobile navigation systems is additionally, being driven by technological improvements. Devices that integrate traffic data with navigation systems is one such invention. These latest systems give users exact driving directions, receive and display traffic congestion data, and suggest alternate routes. The color LCD screens on a few automotive navigation systems can also be used to watch television or DVD movies.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In July 2021, Mapbox is integrated with navigation SDK V2, allowing for the delivery of driving-related information such as traffic congestion, speed limits, and parking spot availability, among other things.
- In June 2021, Toyota Motors North America unveiled a new multimedia system that includes a navigation system with cloud capability, allowing for real-time navigation mapping updates that are both faster and more accurate.
- In April 2021, GM announced the launch of the Map+ navigation system, which is powered by Mapbox. The company plans to install this navigation system in vehicles starting in 2018 with a fleet of around 900,000 vehicles.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Sales Channel Type
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
· Competitive Landscape- Aisin Aw Co., Ltd., Alpine Electronics Inc., Clarion Electronics Co., Ltd., Mitsubishi Electric Corp., and DENSO Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive Navigation System Market Report by Segment
By Sales Channel Type
- OEM
- Aftermarket
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
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