Market for the Automotive Navigation System is estimated to grow at a CAGR of over 7.7% during the forecast period of 2018-2023|Key Players- ALPINE ELECTRONICS INC, BOSE CORP, CONTINENTAL AG, DENSO CORPORATION, FUJITSU TEN, MITSUBISHI ELECTRIC, PIONEER CO

Market Analysis:

Asia region is projected to become the key market
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. 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.

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With the increasing number of sales, there is a burden on these companies to deliver these products to their customers in time. 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. 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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Market Segments:
Automotive Navigation System market is segmented by:
1. End-User Type: OEM, Aftermarket
2. Vehicle Type: Passenger Vehicles, Commercial Vehicles
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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.
• June 2017: Clarion in its new model NX504E, introduced intelligent voice technology, which makes navigation through voice command much easier.

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