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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