How Has the Automotive Navigation Systems Market Evolved Historically and What is its Current Size?
The automotive navigation systems market has seen considerable growth due to a variety of factors.
• The market size of automotive navigation systems has seen a considerable expansion in the past years. The projected growth indicates a surge from $36.59 billion in 2024 to $39.31 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%.
Factors such as a greater need for convenience among consumers, an increase in traffic congestion, safety regulations imposed by the government, escalating urbanization, and advancements in mapping and location services, have largely contributed to the historical period's growth.
What is the Forecasted Market Size and CAGR for the Automotive Navigation Systems Market?
The automotive navigation systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of automotive navigation systems is predicted to experience robust growth in the coming years, rising to $49.28 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%.
This surge during the projected period can be traced back to factors such as a heightened emphasis on predictive navigation, an escalating demand for electric vehicles (EVs), improved user interfaces, incorporation with the smart city framework, and the need for personalised and context-sensitive services. Key trends in the forecasted period encompass the amalgamation of augmented reality (AR), the connected car environment, voice-activated navigation, predictive navigation, smartphone convergence, 3D mapping and visualisation, as well as the integration with advanced driver assistance systems (ADAS).
What Key Factors and Trends Are Driving The Growth Automotive Navigation Systems Market?
The rise in the number of automobiles is predicted to usher in growth for the automotive navigation systems market. Any machinery engineered or utilized for the conveyance of individuals or commodities on land, including cars, trucks, buses, motorcycles, bicycles among others, is termed as vehicles. These automotive navigation systems, present in vehicles, offer real-time directions, location data, spontaneous traffic updates, and guidance to reach the intended destination safely and effectively. To illustrate, the European Automobile Manufacturers Association, a Belgium automobile manufacturers group noted that worldwide motor vehicle production hit 85.4 million units in 2022, showcasing a significant 5.7% rise from 2021. This spike in vehicle numbers thus pushes forward the growth of the automotive navigation systems market.
What Are The Market Segments In The Automotive Navigation Systems Market?
The automotive navigation systems market covered in this report is segmented –
1) By Component: Hardware, Software, Connectivity
2) By Navigation modes: 3D Navigation, 2D Navigation, Differential Global Positioning System (DGPS)
3) By Vehicle Type: Passenger cars, Commercial vehicles
4) By Sales Channel: Original Equipment Manufacturer, After market
5) By Applications: Car Navigations, Dynamic Vehicle Routing, Tracking Rental Cars, Monitoring High Risk Auto Loans
Subsegments:
1) By Hardware: GPS Receivers, Sensors, Displays
2) By Software: Mapping Software, Route Planning Software, Traffic Information Software
3) By Connectivity: Bluetooth, Wi-Fi, Cellular Connectivity
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Which Emerging Market Trends Are Altering The Automotive Navigation Systems Industry?
In their efforts to improve user experience, boost route accuracy, and offer tailored driving solutions, leading companies in the automotive navigation systems market are concentrating on developing innovative technological products like personalized navigation maps. AI-based navigation maps are a type of advanced system that uses artificial intelligence to provide accurate, real-time directions and customized route suggestions. The system enhances navigation by evaluating traffic conditions, user preferences, and points of interest. For example, in June 2024, Genesys International, an Indian surveying services firm, introduced the first AI-based navigation map. The map features Intelligent Speed Assistance (ISA), which notifies drivers about speed limits and lane departures, thus increasing road safety.
Who Are the Key Players In The Automotive Navigation Systems Market?
Major companies operating in the automotive navigation systems market 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
What Are The Regional Insights Into The Automotive Navigation Systems Market?
North America was the largest region in the automotive navigation systems market in 2024. 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.
