The automotive industry has been undergoing dynamic changes in the recent years due to various factors such as declining fuel prices, low industry growth rate, emergence of electric and hybrid electric vehicles, improvement in automotive credit availability, aging vehicle fleet, and the emergence of disruptive trends such as car sharing and ride hailing services, globally. Increase in the traffic congestion is one of the major concerns attributed to the increase in the number of vehicles.
People across the globe, both living in the developed and developing countries, are facing the perils of wasting a significant number of hours driving on the roads at extremely slow speed which is consequently increasing the level of exhaustion while driving. This has led to automotive original equipment manufacturers (OEMs) equipping their vehicles with advanced navigation systems. These navigation systems make use of satellite navigation technology to find directions and steer drivers through unknown locations. However, the features provided with in car navigation systems are not confined to only getting directions but also include real time traffic data, locating point of interests, parking information and off-line navigation capabilities.
According to the latest market research report by BIS Research, titled ‘Global Automotive Navigation Syste…orecast 2017-2021’, global automotive navigation systems market generated $20.95 billion in 2016; the market currently is being driven by the rising concerns towards the global problem of traffic congestion especially in urban areas and changing consumer behavior towards better in-dash features. However, the factors such as the high cost associated with the technology and limitations arising from under developed telecommunication infrastructure is adversely affecting the adoption of this technology. On the other hand, the automobile manufacturers are investing extensively in the development of autonomous driving technologies. The market for embedded navigation systems is expected to grow significantly as navigation is an important feature for developing self-driving vehicles, as the car will be expected to take the most convenient and best possible route from the start point to the destination. The collaborations between the various stake holders across the value chain are expected to contribute positively towards the market growth.
Companies Mentioned in the Report:
- Alpine Electronics, Inc.
- Aisin Seiki Co. Ltd
- Clarion Corporation
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Fujitsu Ten Limited
- Garmin Limited
- Harman International Industries Inc.
- HERE Technologies
- JVC Kenwood
- MiTAC International Corporation
- NNG Software Developing and Commercial LLC
- Panasonic Corporation
- Pioneer Corporation
- Robert Bosch GmbH
- Telenav, Inc.
- TomTom N.V.
Key Questions Answered in the Report:
- What the market size of the global automotive navigation systems is in terms of value, and volume from 2017-2021?
- Which device type is dominating the global automotive navigation systems market in terms of value, and volume?
- What will be the revenue generated by the different distribution channels in the global automotive navigation systems market from 2017-2021?
- Which region in the global automotive navigation systems market is expected to grow at the fastest rate from 2017-2021?
- What are the different factors driving the market forward during the forecast period?
- What are the major factors challenging the growth of the global automotive navigation systems market?
- Which type of new strategies are being adopted by the existing market players to make a mark in the industry?
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