In addition, the rising demand for autonomous vehicles is expected to contribute to the market growth, as navigation constitutes an important feature in autonomous vehicle technology. Automotive navigation systems market is anticipated to witness considerable growth during the forecast period on account of the rising concerns toward the problem of traffic congestion
The global automotive navigation systems market is anticipated to witness considerable growth during the forecast period on account of the rising concerns toward the problem of traffic congestion, increasing customer preference for improved in-dash navigation features such as 3D maps, and increasing production of automobiles equipped with navigation systems.
On the basis of vehicle type, the automotive navigation systems market has been categorized into passenger and commercial vehicles. Between the two, the passenger vehicle category held the larger market share during the historical period, owing to the increased passenger vehicle production witnessed globally in recent years.
The total production of passenger cars increased from approximately 72 million units in 2016 to around 73 million units in 2017.
Thus, the increasing production of passenger vehicles is resulting in the demand for navigation systems, globally.
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Based on device type, the automotive navigation systems market has been categorized into in-dash, portable, and mobile application-based navigation systems. During the forecast period, the market is expected to witness the fastest growth in the category of in-dash navigation systems.
This can be mainly attributed to the growing popularity of 3D-map-enabled in-dash systems coupled with the availability of upgraded in-dash navigation systems from original equipment manufacturers (OEMs) at a reasonable price.
Geographically, the automotive navigation systems market has been categorized into Europe, North America, Asia-Pacific (APAC), and the Rest of the World. Of these, APAC held the largest share in the market during the historical period due to the presence of major OEMs in the region, such as Nissan Motor Company Ltd., Honda Motor Company Ltd., Toyota Motor Corporation, and Hyundai Motor Company, which are deploying navigation systems in their automobile offerings.
The market growth in the region is also driven by developing economies, such as India and China, where the demand for navigation systems is rising on account of the increasing number of vehicles on roads and problems associated with traffic congestion.
Growing demand for automobile connectivity for real-time traffic updates, need for performance-based predictive analysis (as in the case of autonomous vehicles), growing customer preference for improved in-dash navigation features, and increasing production of automobiles equipped with navigation systems are the major factors driving the growth of the automotive navigation systems market, globally. The navigation systems market has experienced several developments since the global positioning system (GPS) satellites started orbiting the Earth.
As a result, real-time traffic updates have substantially helped in saving the time and fuel by suggesting the best route to the drivers to avoid traffic-prone areas. The advantages associated with the navigation technology have, thus, supported its wide adoption in automobiles in recent years.
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Some of the major players operating in the global automotive navigation systems market are Garmin Ltd., Alpine Electronics Inc., Robert Bosch GmbH, Bose Corporation, Aisin Seiki Co. Ltd., Continental AG, Tom-Tom NV, Delphi Technologies, Pioneer Corporation, Mitsubishi Electric Corporation, and HERE Technologies.
Most of these companies are working toward introducing an extensive portfolio of navigation systems and also collaborating with other companies to increase their offerings and market share.
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