Personal Navigation Devices Global Market Report 2024

The personal navigation devices market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The expansion observed during the historical period can be attributed to several key factors. These include the availability and widespread adoption of GPS systems, the development of military applications that later transitioned to civilian use, the boom in consumer electronics leading to increased accessibility of personal navigation devices, integration of navigation systems into automotive technology, and the ongoing trend of urbanization, which necessitates reliable navigation solutions for both individuals and businesses.

The personal navigation devices market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be linked to several key factors. These include the integration of health and safety features into navigation systems, expansion into global markets and emerging economies, the adoption of subscription-based models for navigation services, a surge in outdoor and adventure activities driving the demand for navigation solutions, and increasing considerations for environmental sustainability in navigation technology.

The projected increase in travel and tourism activities is anticipated to drive significant growth within the personal navigation device (PND) market in the coming years. Travel and tourism, characterized by individuals or groups venturing to destinations outside their usual environment for various purposes, including leisure, recreation, or business, are experiencing notable growth owing to factors such as improved connectivity, digital tools, and increased government investments. This upward trajectory in travel expenditure stimulates the demand for personal navigation devices, which offer accurate and reliable navigation assistance to travelers, facilitating efficient navigation whether by driving, walking, or biking. For instance, data from the World Travel and Tourism Council in August 2022 highlighted substantial growth in the travel and tourism sector, underscoring its significant contribution to global GDP and domestic visitor spending, thereby driving the momentum behind the personal navigation device market's expansion.

Key players in the personal navigation device market are focusing on developing advanced technologies, such as AI-powered GPS trackers, to enhance customer experience and drive market revenues. AI-powered GPS trackers leverage artificial intelligence to offer intelligent features beyond traditional tracking, catering to various applications including logistics and fleet management. For example, Tack One launched Tack GPS Plus in September 2021, featuring GPS, Wi-Fi, IoT mobile network, AI, and smart sensors, along with a patent-pending indoor elevation finder feature for accurate tracking in multistory buildings. These advancements in technology address evolving customer needs for enhanced navigation solutions.

In October 2023, GPS Insight bolstered its market presence by acquiring ClearPathGPS Inc., aiming to expand its product offerings through integration of a contemporary Software as a Service (SaaS) solution. This strategic acquisition strengthens GPS Insight's position as a leading provider of fleet management and operations solutions, accelerating its product development roadmap. ClearPathGPS Inc., known for providing GPS tracking solutions, complements GPS Insight's portfolio, enabling the company to cater to a broader customer base and capture emerging market opportunities.

Major companies operating in the personal navigation devices market report are Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Sony Corporation, ALPS ALPINE ASIA CO. LTD, Garmin Ltd., TomTom International BV., Shenzhen RoadRover Technology Co Ltd, Delphi Technology Inc., CalAmp Corp., Omnitracs LLC, Magellan GPS, Advanced Tracking Technologies Inc., Blaupunkt GmbH, Sygic A.S., CarrierWeb, Coban Technologies Inc., Linxup, Mio Technology Corporation, Becker Avionics Inc., NAVIGON AG, AvMap Satellite Navigation Inc., BridgeHaul Logistics Solutions LLC, LiveViewGPS Inc., Navman Wireless, HawkEye Inc., Kenwood Ltd.

North America was the largest region in the personal navigation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal navigation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the personal navigation devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A personal navigation device (PND) is a portable electronic gadget engineered to aid users in navigating different locations. PNDs are typically equipped with GPS (Global Positioning System) or alternative satellite navigation technologies, enabling them to pinpoint the user's exact location and deliver real-time navigation instructions. Primarily utilized for automotive navigation, these devices can also be applied to pedestrian navigation and various outdoor activities.

The primary categories of personal navigation devices include in-car personal navigation devices (PNDs), handheld GPS devices, smartphone applications, and wearable GPS devices. In-car PNDs are compact, dedicated devices tailored for running road navigation applications. These devices find applications across multiple platforms such as smartphones, tablets, and automobiles, serving various end users including automotive, outdoor, sports, commercial, and others.

The personal navigation devices research report is one of a series of new reports that provides personal navigation devices market statistics, including the personal navigation devices industry's global market size, regional shares, competitors with an Personal navigation devices market share, detailed personal navigation devices market segments, market trends and opportunities, and any further data you may need to thrive in the personal navigation devices industry. This personal navigation devices market research report delivers a complete perspective of everything.

The personal navigation device market consists of revenues earned by entities by providing mapping services, location-based services (LBS), and subscription services. The market value includes the value of related goods sold by the service provider or included within the service offering. The personal navigation device market also includes sales of GPS receivers, 3D maps, and cloud-based GPS augmentation tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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