Automotive Navigation Systems Market Share to Register USD 30,134.3 Million, with a CAGR of 7.9% by 2030 – Report by Market Research Future (MRFR)

Automotive Navigation Systems Market Growth Boost by Increasing Application Area of Navigation Systems as, Global Positioning System (GPS) and satellite-based radio navigation systems

New York, US, May 08, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Navigation Systems Market Information by Device Type, Vehicle Type, Propulsion and Sales Channel, and Region - Forecast till 2030", The automotive navigation systems market will be worth USD 30,134.3 Million by 2030, expanding at a rate of 7.9% from 2022 to 2030.

Automotive Navigation Systems Market Overview

A feature of auto controls that is typically used to discover directions in a car is an automotive navigation system. The data of the position is often obtained using a satellite navigation device and then connected to a position on a route. These devices are used in cars to assist the driver while they are driving. Organizing a vehicle's travel also provides a variety of information regarding petrol stations, route possibilities, lodging, commute times, and traffic highlights.

Market Competitive Landscape:

The important vendors in the automotive navigation systems industry are

  • Continental
  • Alpine
  • Robert Bosch GmbH
  • Denso
  • Aisin Seiki
  • Faurecia Clarion
  • Garmin Ltd.
  • NNG Software
  • TomTom
  • Harman
  • HERE Technologies
  • JVC Kenwood
  • Pioneer
  • Telenav
  • Among others.

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The automotive navigation systems market is anticipated to expand steadily over the next few years. Strong consumption figures are available in the worldwide market, which is predicted to expand annually. Tier-1 firms predominate in the highly fragmented worldwide automotive navigation systems market.

January 2023

Toyota Motor Europe and Mapbox, the premier maps and location platform enabling a new wave of location-aware applications, have partnered to deliver Cloud Navigation powered by Mapbox Dash. The European Yaris, Yaris Cross, and Aygo X models will give Toyota consumers real-time information for the first time, improving the time efficiency, trouble-free operation, and safety of driver travels. Drivers get access to real-time parking availability, speed limit information, and speed camera alerts in addition to lane-level guidance. In a forthcoming trial program, Toyota drivers will have the convenience of paying for parking and gas using their infotainment system.

Automotive Navigation Systems Market COVID 19 Analysis

The global automotive navigation systems market has been severely damaged by the COVID-19 outbreak. Due to this circumstance, the system scarcity issue got worse and the worldwide industry also suffered. Lack of raw materials, incompetent labor, and the closing of several car production plants are some of the factors that contributed to a fall in the manufacturing rate in 2020.

Report Scope:

Report Metrics Details
Market Size 2030 2030: USD 30,134.3 million
CAGR during 2022-2030 7.9% CAGR
Base Year 2021
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered   Device Type, Vehicle Type, Propulsion and Sales Channel
Key Market Opportunities   Increasing Application Area of Navigation Systems
Key Market Drivers   High Cost of the Navigation Systems

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Automotive Navigation Systems Market:

The market suffered as a result of low car sales, which meant that the growth potential for navigation systems was minimal. Additionally, the industry's aftermarket sector did not record many sales due to the extremely low or virtually nonexistent number of vehicle movements. However, the market returned to pre-covid economic circumstances with the anticipated increase in passenger car sales and more awareness of safety in both passenger and commercial vehicles.

Automotive Navigation Systems Market USP Covered:

Market Drivers:

Real-time traffic information, map updates, and smartphone connection have been a few key aspects of a vehicle navigation system that have attracted substantial client demand in the short term and are expected to continue to do so in the future. Additionally, throughout the anticipated period, the demand for navigation systems is anticipated to be driven by technical developments in the navigation system. However, the market's expansion is projected to be hampered over the forecast period by factors including growing cyber-security concerns and the expensive price of the navigation system.

To enhance the entire experience when driving, for instance, Amazon updated the Alexa voice assistant with a number of new auto-specific talents. One of the brand-new capabilities is the ability to pay for petrol by just saying, "Alexa, pay for gas." More than 11 000 Exxon and Mobil stations have the essential technology integrated, making this function usable there.

With China, Japan, and India serving as the region's three main automobile production hubs, Asia-Pacific will provide lucrative chances to worldwide vehicle navigation system producers. Since automotive MEMS sensors are one of the growing applications and are already being utilized in electronic control units and tire pressure monitoring systems in the market for vehicle navigation systems, the demand in North America and Europe is projected to rise.

Market Restraints:

One of the main issues impeding the growth of the market is the high cost of navigation systems and the availability of alternatives like smartphone GPS. A navigation system that is factory-fitted means that it came with the car as standard equipment, much like a radio or seatbelt. Because it allows the system to be completely incorporated into the car, this option is popular with consumers. It is a component of the dashboard and is controllable without a separate switch remote.

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Automotive Navigation Systems Market Segmentation

By Device Type

In-Dash Navigation Systems, Portable Navigation Systems, and Mobile Navigation Systems are the major device types considered in the study.

By Vehicle Type

Passenger cars, Heavy Commercial Vehicles, and Light Commercial Vehicles are the vehicle types that make use of navigation systems.

By Propulsion

Electric vehicles as well as ICE are the propulsion-based segments.

By Sales Channel

OEM along with Aftermarket are the key sales channels in the market.

Automotive Navigation Systems Market Regional Insights

In the near future, the Automotive Navigation Systems market is expected to be dominated by the Asia Pacific region. Due to emerging nations like China and 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 upcoming years, it is anticipated that the presence of major automakers including Toyota Motor Corporation, Nissan, Suzuki, Tata Motors, Daihatsu, and many more would speed up industry expansion.

Additionally, North America held a sizeable market share in 2020 and is anticipated to expand at a consistent CAGR over the forecast period. The rise in demand for electric vehicles, the quick adoption of wireless communication technology, and the accessibility of sophisticated navigation infrastructure are some of the key factors propelling the market's expansion. Additionally, the region's strong passenger vehicle sales and rising desire for luxury automobiles both help to boost market share. Major automakers have also consistently invested in enhancing the local navigation infrastructure; these are some of the key elements fueling the market's expansion.

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The European auto industry has grown to be a significant exporter of vehicles globally and views navigation as a safety feature in cars. The government intends to mandate the installation of GPS equipment in every vehicle. Cooperative intelligent transport system standards were first released by the European Committee for Standardization (CEN) and the European Telecommunications Standards Institute (ETSI). Sales are currently increasing, and prominent automobile OEMs including Renault, Mitsubishi Electric Corporation, Denso, Bosch, Nissan, Garmin, Hyundai, Toyota, etc. are present in the nation. For example, the number of passenger automobiles sold climbed from 14000 in 2020 to 15900 in 2021.

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