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Automotive Navigation System Market 2019 Projected to Reach 7.7% CAGR Till 2023 | Global Key Company’s (Alpine Electronics, Bose Corp, Continental Ag, Denso Corporation, Fujitsu Ten, Mitsubishi Electric, Pioneer Corp)

03-18-2019 02:30 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Prognosis

The global market for the automotive navigation system is estimated to grow at a CAGR of over 7.7% during the forecast period of 2018-2023. The North America automotive industry is leading in terms of production as well as sales. North America was the largest market for automotive navigation systems until 2017, followed by Asia-Pacific and Western Europe. However, the Asia region is projected to become the key market for the manufacture of navigation systems with Japan, India, and China emerging as major automotive manufacture hubs. Also, China produced ~25% of the global vehicle production, while Japan and India had ~10% and ~5% of the global vehicle production, respectively, in 2017.

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Shifts in consumer demand, increasing availability of data and information, expanded regulatory requirements are the key factors boosting the growth of automotive navigation system market. In addition, technological advancements in navigation system are expected to drive the demand for navigation systems market during the forecast.

Key Developments in the Market:
• January 2017: QNX Software Systems Limited announced its collaboration with AutoNavi Holdings Limited to integrate the latter’s mobile navigation technology into the QNZ CAR platform for infotainment.
• April 2017: Intel has acquired Itseez, a computer vision and machine learning startup in order to develop better navigation for self-driving cars. Earlier, Intel also announced the purchase of Yogitech, an Italian semiconductor functional safety firm, to ensure the proper working of Intel’s chips used in the autonomous vehicles.
• June 2017: Clarion in its new model NX504E, introduced intelligent voice technology, which makes navigation through voice command much easier. Clarion Intelligent VOICE uses the Google voice recognition technology and information for finding what the user is looking for.

Major Players:
ALPINE ELECTRONICS INC, BOSE CORP, CONTINENTAL AG, DENSO CORPORATION, FUJITSU TEN, MITSUBISHI ELECTRIC, PIONEER CORP amongst others.

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Will booming E-Commerce and dependent logistics drive the navigation systems market?
With the increasing number of sales, there is a burden on these companies to deliver these products to their customers in time. For this purpose, many e-commerce companies are forming alliances with existing logistic providers for B2C or Business to Customer delivery. The logistics companies are expanding their services by getting more vehicles into services. These vehicles, in order to reach their customer, need to have satellite navigation systems. In order to attract more number of consumers, these e-commerce companies have introduced ideas like u2018anywhere delivery, same day delivery and even same hour delivery.’ Further, these vehicles depend on the routes and data provided by the navigation system to deliver the products to their destination in time.

Navigation systems offer advanced functionalities such as a map view (rotating with the automobile), schematic pictograms, distance, and functions for voice prompts.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success

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