Press Release

Passenger Car to Dominate Global Automotive Navigation Systems Market till 2024

Rising need for monitoring real-time traffic and growing demand from sectors such as e-commerce, taxi and logistics requiring locating various addresses to drive global automotive navigation systems market through 2024

According to TechSci Research report, Global Automotive Navigation Systems Market By Vehicle Type, By Device Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024, global automotive navigation systems market is expected to register growth during the forecast period, on account of increasing need for accurate navigation, position finding and more comfortable driving. Navigation systems use satellite navigation devices to pinpoint the location of any user and provide crucial information such as traffic congestion, active construction work and location of nearby hotels, petrol pumps and hospitals. Additionally, increasing tourism and surging proliferation of ride hailing applications are anticipated to positively influence global automotive navigation systems market during the forecast period.

Global automotive navigation systems market can be segmented based on vehicle type, device type and distribution channel. In terms of vehicle type, passenger cars dominated the market in 2018, as navigation systems were first implemented in cars. However, automobile manufacturers have started equipping commercial vehicles with navigation systems and the trend is likely to continue during the forecast period. Based on device type, in-dash navigation systems come in-built in automobiles, owing to which the segment accounts for the largest market share. In terms of distribution channel, demand for aftermarket segment is increasing as old cars and commercial vehicles are not equipped with the system, and users are opting for them.

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Harman International Industries Inc., Continental AG, Alpine Electronics, Inc., Aisin Seiki Co. Ltd, Delphi Automotive PLC, Denso Corporation, Panasonic Corporation and Robert Bosch GmbH are some of the leading players operating in global automotive navigation systems market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations in order to register positive growth in the market. In 2017, Continental AG partnered with Carnegie Technologies to offer network convergence platform, so as to provide on-air updates for different electronic control units equipped in the vehicle. The company has also collaborated with NTT Docomo Inc. to develop advanced 5G networks in order to enhance cellular based vehicle to everything wireless technology.

“Europe and Asia-Pacific are the major regions in global automotive navigation systems market. Early adoption of advanced technologies such as 3D map systems, advent of self-driving cars and increasing spending by automotive OEMs on R&D are contributing to the share of Europe. Moreover, increasing vehicle production in economies such as China and India and surging demand for real-time traffic and weather information are likely to drive the automotive navigation systems market in Asia-Pacific through 2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Automotive Navigation Systems Market By Vehicle Type, By Device Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of automotive navigation systems market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global automotive navigation systems market.

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