3D Map System for Automotive Market to Grow at a Healthy CAGR of 18% and Reach US$ 4 Bn in Revenues

A new research study titled “3D Map System for Automotive – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025” has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the business intelligence study, the 3D map systems for automotive market for automotive is likely to expand at a CAGR of nearly 18% and reach US$ 4 Bn in revenues by 2025.

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According to the report, adoption of 3D map systems is growing on account of their accuracy, and increasing awareness among users about their benefits. The market has also been complemented by steady automotive sales in the US, China, and India. Awareness and adoption of these services is higher in North America, as compared to other regions, and the report expects the North America 3D map system for automotive to grow at nearly 19% CAGR during the assessment period 2017-2025.

The market has also been influenced by rise of new technologies, and focus of OEM providers to include these technologies in their offerings. According to the study, in-dash navigation systems offer a more comprehensive view of the surroundings, and provide higher display and resolution to the surroundings.

The report has segmented the market on the basis of commercial vehicles and personal vehicles. According to the research study, passenger vehicles account for a higher revenue share of the market, and the trend is likely to remain so during the assessment period as well. The surge in passenger vehicles is especially higher in Asia Pacific and other countries, and this is likely to provide an impetus to growth.

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In addition to North America, Europe is another lucrative market for 3D map system in automotive. The sales of 3D map systems for automotive is concentrated in EU5, with Eastern Europe also providing growth opportunities. The report expects 3D map systems to gain prominence in Europe during the assessment period.

The business intelligence study also offers in-depth analysis and insights on the competitive landscape in the market. According to the report, key stakeholders in the market are focusing on expanding their footprint in emerging markets. Sensing the opportunities in emerging countries, the players are focusing on increasing their footprint in Asia pacific. Some of the leading players in the market include Robert Bosch GmBH, Denso Corporation, Dynamic Map Platform Co., Ltd., Civil Maps, Harman International, and Elktrobit. The competitive landscape in 3D map system in automotive continues to be highly fragmented, and it is likely that the trend will continue during the assessment period.

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This release was published on openPR.