Automotive Navigation Systems Global Market Report 2024

The automotive navigation systems market size has grown strongly in recent years. It will grow from $34.01 billion in 2023 to $36.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The expansion observed in the historic period can be attributed to several factors, including consumer demand for convenience in navigation, the escalation of traffic congestion in urban areas, government regulations focusing on safety standards, the increasing rate of urbanization, and advancements in mapping and location services.

The automotive navigation systems market size is expected to see strong growth in the next few years. It will grow to $46.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The forecasted growth is driven by predictive navigation, EV demand, improved user interfaces, smart city integration, and personalized services. Major trends include AR integration, connected car ecosystems, voice-activated navigation, predictive algorithms, smartphone integration, 3D mapping, and ADAS integration.

The increasing volume of vehicles on the roads is projected to propel the expansion of the automotive navigation systems market in the foreseeable future. Vehicles encompass a diverse range of machines designed or utilized for transporting people or goods on land, including cars, trucks, buses, motorcycles, bicycles, and more. Automotive navigation systems play a crucial role in vehicles by furnishing real-time directions, location data, dynamic traffic updates, and guidance, thereby facilitating efficient and safe navigation to destinations. For example, data from the European Automobile Manufacturers Association in May 2023 indicates that global motor vehicle production surged to 85.4 million units in 2022, reflecting a noteworthy 5.7% increase compared to 2021. Moreover, figures from Brand Finance plc, a UK-based brand valuation firm, reveal that the automobile sector achieved approximately 78 million unit sales in 2022, marking a substantial 10% increase compared to both 2021 and 2020. Hence, the escalating volume of vehicles serves as a key driver behind the growth of the automotive navigation systems market.

Prominent players in the automotive navigation systems market are prioritizing the development of innovative technological solutions to enhance the navigation experience for drivers. One such innovation is Maps+, an in-vehicle app-based navigation system, which seamlessly integrates into a vehicle's onboard infotainment system or dashboard display, leveraging software applications (apps) to deliver navigation functionality. For instance, in April 2021, General Motors, a leading US-based automotive manufacturer, introduced Maps+, aimed at providing drivers with an enhanced and user-friendly in-vehicle navigation experience. Powered by Mapbox, Maps+ offers features such as cross-app integration, personalized settings, and contextually relevant services. It also includes embedded speed limit alerts, low fuel recognition, and real-time traffic-based routing capabilities, ensuring drivers receive accurate and timely navigation guidance tailored to their preferences and current road conditions.

In February 2022, Harman International, a leading US-based company specializing in connected car technology, completed the acquisition of Apostera GmbH for an undisclosed sum. This strategic move is intended to enrich Harman's portfolio of automotive products and establish the company as an innovative leader in automotive technologies. The acquisition aims to bolster Harman's digital cockpit offerings and solidify its position in the dynamic automotive market. Apostera GmbH, headquartered in Germany, is renowned for developing mixed-reality navigation systems designed to enhance conventional automotive navigation systems.

Major companies operating in the automotive navigation systems market report are Ford Motor Company, BMW Group, Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, AISIN SEIKI Co. Ltd., Fujitsu Limited, Mitsubishi Motors Corporation, Harman International Industries, Garmin Ltd., Bose Corporation, JVCKENWOOD Corporation, Kenwood Corporation, HERE Technologies, MiTAC Holdings Corp., Pioneer Electronics, TomTom International BV, NNG Software Developing and Commercial LLC, Telenav Inc., clarion technologies, Delphi Technologies, Faurecia Clarion, Alpine Electronics, Navis-AMS.

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

Automotive navigation systems are technology-integrated solutions aimed at assisting drivers in navigating between locations. These systems offer real-time directions, maps, and pertinent information to aid drivers in efficiently reaching their destinations. Typically relying on GPS (Global Positioning System) technology, they determine the vehicle's current location and provide precise instructions to the desired destination.

The primary components of automotive navigation systems include hardware, software, and connectivity. The hardware component comprises the physical electronic and mechanical parts necessary for the system's operation. It encompasses various navigation modes such as 3D navigation, 2D navigation, and differential global positioning system (DGPS), utilized across different vehicle types including passenger cars and commercial vehicles. These systems are distributed through various sales channels including original equipment manufacturers and the aftermarket, catering to diverse applications such as car navigation, dynamic vehicle routing, rental car tracking, and monitoring high-risk auto loans.

The automotive navigation systems market research report is one of a series of new reports that provides automotive navigation systems market statistics, including automotive navigation systems industry global market size, regional shares, competitors with automotive navigation systems market share, detailed automotive navigation systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive navigation systems industry. This automotive navigation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive navigation systems market consists of revenues earned by entities by providing services such as route planning, real-time traffic information, visual maps, speed limit information, and predictive destinations. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive navigation systems market also includes sales of products such as portable GPS navigation devices, head-up display (HUD) navigation units, off-road GPS navigation units, and built-in navigation system 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, distributor 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 goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD, unless otherwise specified).

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


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