What are the Historical Developments and Current Growth Metrics of the Personal Navigation Devices Market?
The personal navigation devices market has seen considerable growth due to a variety of factors.
• The market size for personal navigation devices has shown robust growth in the last few years. The market, which stood at $3.15 billion in 2024, is projected to rise to $3.44 billion in 2025, marking a compound annual growth rate (CAGR) of 9.2%.
The considerable growth seen in the past period can be credited to factors like the accessibility of GPS systems, advancements in military applications, an upsurge in consumer electronics, incorporation of navigation systems into automobiles, and the rapid pace of urbanization.
What Does Future Hold for The Personal Navigation Devices Market By 2029?
The personal navigation devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for personal navigation devices is projected to experience robust expansion in the coming years, swelling to a value of $4.61 billion by 2029, at a compound annual growth rate (CAGR) of 7.6%.
Factors contributing to this projected growth over the forecast period include the integration of health and safety features, global market expansion, penetration into emerging markets, adoption of subscription-driven models, an increase in outdoor and adventure activities, and environmental factors. Key trends identified for this forecast period comprise the incorporation of geofencing and location-based services, the creation of personalized user experiences, environmental sustainability, the adoption of augmented reality (AR) navigation systems, and voice-activation features in navigation.
What Are The Primary Growth Drivers In The Personal Navigation Devices Market?
The personal navigation device market is predicted to witness growth spurred by the surge in travel and tourism activities. These activities involve individuals or groups embarking on journeys outside their everyday environment for vacation, recreation, or business tasks. Factors such as better purchasing power, enhanced digital tools and connectivity, and greater government investments have led to an increase in expenditure on leisure activities thus boosting the tourism sector. Personal navigation devices provide dependable and precise navigation assistance, enabling travelers to reach their destinations effectively, be it by car, foot, or bicycle. For example, in August 2022, the World Travel and Tourism Council, a UK-based entity related to the travel and tourism sector, reported impressive growth in this field throughout 2022, contributing 7.6% to the global GDP, a rise of 22%. In addition, domestic visitor spending showed significant growth, with a noteworthy increase of 20.4% in 2022. Furthermore, the GDP of the travel and tourism sector is predicted to see an average yearly growth rate of 5.8% from 2022 to 2032. Thus, the upsurge in travel and tourism activity is fueling the expansion of the personal navigation device market.
What Is The Segmentation Of The Global Personal Navigation Devices Market?
The personal navigation devices market covered in this report is segmented –
1) By Device Type: In-Car Personal Navigation Devices (PNDs), Handheld GPS Devices, Smartphone Applications, Wearable GPS devices
2) By Application: Smartphones, Tablets, Automobiles
3) By End-Users: Automotive, Outdoor And Sports, Commercial, Other End Users
Subsegments:
1) By In-Car Personal Navigation Devices (PNDs): Standalone PNDs, Integrated PNDs, Portable PNDs
2) By Handheld GPS Devices: Hiking GPS Devices, Fishing GPS devices, Geocaching GPS Devices
3) By Smartphone Applications: Navigation Apps, Offline Navigation Apps, Specialty Apps
4) By Wearable GPS Devices: Fitness Trackers With GPS, Smartwatches With GPS, Activity Monitors With Navigation Features
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What New Trends Are Influencing The Personal Navigation Devices Market?
Key players in the personal navigation device market are innovating and adopting advanced technologies, such as Global Positioning System (GPS)-oriented technology, to improve precision, user interaction, and connectivity. The GPS-oriented equipment is a device designed to capture accurate position and offer directions using signals from GPS satellites. For instance, in May 2023, Elena Geo System, a firm in India specializing in NavIC-based satellite navigation systems, introduced a handheld NavIC-based navigation device. This navigation instrument can provide exact commands during tasks related to infrastructure projects including railways, land surveys, telecommunications, and exploration of hydrocarbons.
Who Are the Key Players In The Personal Navigation Devices Market?
Major companies operating in the personal navigation devices market are:
• Apple Inc.
• Samsung Electronics Co. Ltd.
• Huawei Technologies Co. Ltd.
• Sony Corporation
• ALPS ALPINE ASIA CO. LTD
• Garmin Ltd.
• TomTom International BV.
• Shenzhen RoadRover Technology Co Ltd
• Delphi Technology Inc.
• CalAmp Corp.
• Omnitracs LLC
• Magellan GPS
• Advanced Tracking Technologies Inc.
• Blaupunkt GmbH
• Sygic A.S.
• CarrierWeb
• Coban Technologies Inc.
• Linxup
• Mio Technology Corporation
• Becker Avionics Inc.
• NAVIGON AG
• AvMap Satellite Navigation Inc.
• BridgeHaul Logistics Solutions LLC
• LiveViewGPS Inc.
• Navman Wireless
• HawkEye Inc.
• Kenwood Ltd.
What Are The Regional Insights Into The Personal Navigation Devices Market?
North America was the largest region in the personal navigation devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal navigation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
