Automotive Navigation Solution Market Overview
Automotive navigation solution is one of the key features consumers are looking for in vehicles these days. Automotive navigation solutions have been very helpful to the occupants owing to their features such as voice guidance, integrated positioning, route planning, route guidance and others. These navigation solutions consist of GPS receivers, audio/video (AV) components and others.
Market Size and Forecast
Global automotive navigation solution market is expected to witness significant growth over the forecast period. The market is expected to thrive on the back of growing automotive industry across the globe. The automotive navigation solution has gone through a number of technological advancements over recent years. Advanced features of automotive navigation solution are gaining attention of consumers across the globe.
Regionally, the global automotive navigation solution market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa regions. Among these regions, Asia Pacific automotive navigation solution market is expected to witness significant growth in global automotive navigation solution market by the end of forecast period. The market of automotive navigation solution system in Asia Pacific is thriving on the back of growing automotive industry across the Asian countries. In Asia-Pacific region, China, Japan, South Korea and India are the major countries which are creating a huge demand for the automotive navigation solution.
Apart from Asia Pacific, North America region grabbed major shares in previous years and expected to showcase a tremendous growth over the forecast period. Strong aftermarket sales of automotive navigation solution in North American countries are expected to bolster the growth of North America automotive navigation solution market over the forecast period. Apart from this, U.S. is likely to contribute significantly in the growth of automotive navigation solution market in North America region during the forecast period.
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Further, passenger cars navigation solution segment by vehicle type grabbed major shares of market in previous year and is expected to continue this positive growth over the forecast period. Additionally, increasing installation of navigation solution in commercial vehicles for applications such as tracking rental vehicles and dynamic vehicle routing is anticipated to foster the growth of light commercial vehicles and heavy commercial vehicles over the forecast period.
Market Segmentation
Our in-depth analysis has segmented global automotive navigation solution market into the following segments:
By Component
- Hardware
- Software
- Service
By Vehicle type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Connectivity
- Bluetooth LE
- USB
- Wi-Fi
By Sales Channel
- OEM
- Aftermarket
By Region
Global automotive navigation solution market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers & Challenges
The increasing sales of vehicles are the major factor which is responsible for the growth of automotive navigation solution market. In addition to this, advances in technologies in automotive navigation solution are anticipated to drive the growth of the automotive navigation solution market in upcoming years. Moreover, increasing vehicle density on roads in developed as well as developing countries is also a key factor that is expected to fuel the need for automotive navigation solution across all regions in future.
According to OICA, 94.7 million motor vehicle productions were held to be in 2016. Moreover, this represented a Y-o-Y growth of 5.0% as compared to 2015. Additionally, automotive production is anticipated to increase on the account of rising demand. This factor signals promising growth of the automotive navigation solution market in upcoming years. The manufacturers of automotive navigation system are developing these solutions to support many regional languages. Such beneficial features of automotive navigation system are augmenting the demand across the globe. For instance, TPL Maps Navigation System is supported by TPL Trakker which is a tracking company of Pakistan. And due to an Urdu language option this solution is highly acceptable among Pakistani consumers.
Further, global automotive navigation solution market is booming on the account of increasing awareness amongst the population and growing aftermarket of automotive navigation solution across the world. However, high cost of automotive navigation solution and slow installation rate in economy cars may hamper the growth of automotive navigation solution market in upcoming years.
Top Featured Companies Dominating The Market
- NNG Software Developing and Commercial Llc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Neusoft Corporation
- MiTAC International Corporation
- Intellias Ltd.
- HARMAN International
- Infoware GmbH
- Telenav
- TomTom International BV.
- Garmin Ltd.
- Pioneer India Electronics Pvt. Ltd.
- Alpine Electronics, Inc.
- Others Notable Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global automotive navigation solution market is segmented as follows:
- By Component Market Size & Y-O-Y Growth Analysis
- By Vehicle type Market Size & Y-O-Y Growth Analysis
- By Sales Channel Market Size & Y-O-Y Growth Analysis
- By Connectivity Market Size & Y-O-Y Growth Analysis
- By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
- Report ID: 1032
- Published Date: Feb 07, 2023
- Report Format: PDF, PPT
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
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