Automotive Navigation Systems Market Growth Reach USD 30,134.3 million by Integration of Smartphones with In-Vehicle Systems

iCrowd Newswire
27 Sep 2022, 23:18 GMT+10

The global automotive navigation systems market will reach USD 30,134.3 million at a 7.9% CAGR by 2030, states the new Market Research Future report.

Market Drivers

Integration of Smartphones with In-Vehicle Systems to Boost Market Growth

The integration of the smartphones with in-vehicle systems (IVS) will boost market growth over the forecast period. The adoption of smartphone has gone up of late that is predicted to fuel the need for tablet-based or smartphone-based navigation devices.

Opportunities

Rising Consumer Preference for Better In-dash Navigation Features to offer Robust Opportunities

The rising consumer preference for better in-dash navigation features coupled with surge in automobile production that are equipped with navigation systems will offer robust opportunities for the market over the forecast period.

Key Players

Eminent industry players profiled in the automotive navigation systems market report include, Continental, Alpine, Robert Bosch GmbH, Denso, Aisin Seiki, Faurecia Clarion, Garmin Ltd., NNG Software, TomTom, Harman, HERE Technologies, JVC Kenwood, Pioneer, and Telenav.

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Restraints and Challenges

High Cost to act as Market Restraint

The high price of navigation systems and persistent shortage of semiconductors worldwide may act as market restraints over the forecast period.

Market Segmentation

The global automotive navigation systems market is bifurcated based on sales channel, propulsion, vehicle type, and device type

By device type, in-dash navigation system will lead the market over the forecast period.

By vehicle type, passenger car will dominate the market over the forecast period.

By sales channel, aftermarket will spearhead the market over the forecast period.

By propulsion, the automotive navigation systems market is segmented into ICE and EV.

COVID-19 Analysis

As the novel coronavirus continues to spread over the world, automakers are closing plants as a last resort to curtail the spread of COVID-19. As more European businesses halt operations and US and Asian-Pacific automakers prolong shutdown periods, the scenario is still murky. The automakers' plans for North American production are an effort to stop the COVID-19 virus from spreading, although the area is presently the hub of the outbreak worldwide, with more daily confirmed cases than in any other region. State or provincial, federal, and local actions have all been included into the government's response in the US & Canada. Governments in other areas impose what seem to be ever-tougher restrictions on social engagement, travel, and attendance at work. The automotive industry is at the epicenter of this unrest, and these regions are going through similar circumstances that are having a significant impact on society and the economy. The pandemic outbreak's regional effects are highly variable, but as it expands, the situation in the hardest-hit areas offers a preview of what can be seen in the near future. In February 2020, the car market in China fell by 79%. As a result, Chinese automakers requested from the government that subsidies, tax incentives, and temporary exemptions from pollution standards be used to boost the market.

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Regional Analysis

APAC to Steer Automotive Navigation Systems Market

In the near future, the Automotive Navigation Systems market is anticipated to be domineered by the Asia Pacific region. Due to emerging nations such as China & India, which are more likely to use high-end automotive components like navigation systems, Asia-Pacific is expected to have a large CAGR throughout the study period. Furthermore, the expansion of the Automotive Navigation Systems market is anticipated to be aided by the region's quick industrialization as a result of its affordable production costs. In the years ahead, it is predicted that the presence of major automakers including Toyota Motor Corporation, Suzuki, Nissan, Daihatsu, Tata Motors, and many more will drive market expansion. For the existence of multiple manufacturers in this region, the automotive navigation systems market in Asia Pacific will account for the greatest revenue share among other regional markets over the forecast period. The market for automotive navigation systems in APAC is expected to grow over the forecast period due to factors like high disposable income, rising urbanization, rising consumer demand for cars, growing car-sharing activities, rising smartphone adoption linked to rising Internet connectivity, and the presence of both international and local vendors. Additionally, the market is probably going to profit from quick technological advancements and rising commercial vehicle demand.

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Europe to Have Significant Growth in Automotive Navigation Systems Market

During the projection period, the European market is anticipated to have a substantial rate of revenue growth. While considering navigation as a safety measure in cars, Europe's automotive market is most heavily influenced by safety and security services. As a result, government officials plan to make GPS devices a requirement for all automobiles. The European Committee for Standardization (ECS) and the European Telecommunications Specifications Institute (ETSI) have released the first set of standards for cooperative intelligent transportation systems (CEN). As part of the proposed program, every new automobile would be required to have GPS and 3G or 4G systems, laying the groundwork for automotive navigation systems.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS

1.1.1 GLOBAL AUTOMOTIVE NAVIGATION SYSTEMS MARKET, BY DEVICE TYPE

1.2 MARKET ATTRACTIVENESS ANALYSIS

1.2.1 GLOBAL AUTOMOTIVE NAVIGATION SYSTEMS MARKET, BY VEHICLE TYPE

1.2.2 GLOBAL AUTOMOTIVE NAVIGATION SYSTEMS MARKET, BY PROPULSION

1.2.3 GLOBAL AUTOMOTIVE NAVIGATION SYSTEMS MARKET, BY SALES CHANNEL

2 MARKET INTRODUCTION

2.1 DEFINITION

2.2 SCOPE OF THE STUDY

2.3 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS

3.2 PRIMARY RESEARCH

3.3 SECONDARY RESEARCH

3.4 MARKET SIZE ESTIMATION

3.5 TOP-DOWN AND BOTTOM-UP APPROACH

3.6 FORECAST MODEL

3.7 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS

4.1 OVERVIEW

4.2 DRIVERS

4.2.1 INCREASING APPLICATION AREA OF NAVIGATION SYSTEMS

4.2.2 EXCEPTIONAL ABILITY OF NAVIGATION SYSTEMS TO OFFER REAL-TIME TRAFFIC DATA IS BOLSTERING THE MARKET GROWTH

4.3 RESTRAINT

4.3.1 HIGH COST OF THE NAVIGATION SYSTEMS

4.4 OPPORTUNITY

4.4.1 INCREASE IN ADOPTION OF CAR GPS NAVIGATION SYSTEM

4.5 TRENDS

…Continued.

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