Automotive Navigation Systems Market (By Sales Channel: OEM, Aftermarket; By Vehicle Type: Passenger Cars, Commercial Vehicles) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global automotive navigation systems market is anticipated to grow at a CAGR of around 7.7% during the forecasting period 2020 to 2027 and to reach around US$ 46.4 Bn by 2027.

Market Dynamics

Automotive sector is witnessing rapid technological advancements across the globe, developing government regulation related to passenger and vehicle safety, coupled with deployment of advanced navigation system by manufactures are some factors expected to drive the growth of global market. There is gradual increase in passenger vehicles sale in developing countries, manufactures are focused on deploying advanced features in the vehicles for better driving experience. Deployment of advanced navigation system in vehicles for real time traffic updates and safe parking assistance.

Rising logistics activities in developed and developing countries and demand for advanced navigation system for transportation sector for ease of travelling and accurate monitoring of operations are some other factors expected to support the growth of target market. Logistics activities are increasing across the globel players demand for advanced navigation system that aid in increasing the operational efficiency is increasing.

Major player are focused on product development, with the high investment and introduction of new products that are user friendly, has wider screen for better clarity of maps and direction, etc.  In addition, inclination towards partnerships and agreements in order to increase the revenue share and customer base is expected to support the growth of target market to a certain extent.

• In 2020, Subaru partnered with Tom Tom the location technology specialist. In this Tom Tom will supply Subaru all-new infotainment platform with TomTom Maps, as well as navigation software and new navigation user interface.

Moreover, inclination towards collaborative work in order for product development and innovative product offerings are some other factors supporting the global market growth. Players operating in the target market are collaborating for product development activities. This is expected to help the players to enhance the customer base and increase the profit ratio.

• In 2020, Hitachi Automotive Systems Americas, Inc. and TomTom collaborated for the development of new real-time hazard service for navigation and Advanced Driver Assistance Systems (ADAS). Through the collaboration, the companies will combine technological strengths to deliver real-time updates on the location of road hazards, detected by Hitachi Automotive Systems.

However, factors such as high cost of product and availability of alternative cost-effective solution are expected to hamper the growth of global market. Consumer’s preference for smart phone navigation system and portable GPS systems that are available at low price is increasing. In addition, rising data security concern is expected to limit the adoption further challenging the growth of target market.

High investment for technological advancements and innovative product offerings are factors expected to create new opportunities over the forecast period.

Automotive Navigation Systems Market Segment Analysis, 2019

The global automotive navigation systems market is segmented in to sales channel and vehicle type. The sales channel segment is bifurcated into OEM and aftermarket. Among the sales channel OEM is expected to witness faster growth over the forecast period.

Segment Analysis by Region

The market in North America is expected to account for major revenue share owing to presence of major players operating in the country. in addition, availability of advanced infrastructure in order to support the adoption of developed technology, coupled with innovative product offerings by manufacturers is expected to further support the growth of regional market.

Asia Pacific is expected to witness faster growth in the near future owing to high passenger vehicles sale and developing government regulation. In addition, presence of major automotive manufactures operating in this region, along with increasing merger and acquisition activities through in order to increase the company presence and enhance the profit share is another important factor supporting the growth of regional market.

Competitive Landscape

Presence of large number of players operating on regional and international level is increasing the competition. In addition, business development activities and new product offerings are factors further augmenting the market competition.

Report coverage

The market research study on “Automotive Navigation Systems Market (Sales Channel: OEM and Aftermarket; Vehicle Type: Passenger Cars and Commercial Vehicles) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global automotive navigation systems market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global automotive navigation systems market, its sales channel, vehicle type and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive navigation systems market size and segment markets by sales channel, vehicle type, and geography along with the information on companies operating in the market. The automotive navigation systems market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Alpine Electronics, Pioneer, TomTom, Garmin, Apple, BMW, Ford, Fujitso Ten, Kenwood, Mitsubishi Electronics, and Panasonic.

Market Segmentation

Market By Sales Channel

• OEM
• Aftermarket

Market By Vehicle Type

• Passenger Cars
• Commercial Vehicles

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa