The rising number of cars is expected to proliferate the Automotive Navigation Systems Market! | DENSO Corporation, Harman International Industries Inc., Clarion Co. Ltd

The automotive navigation system market is expected to grow at a CAGR of around 8% during the forecast period. The integration of smartphones and IVS (In-Vehicle Systems) are the key factors contributing to the growth of the market. In recent years, smartphones have become widespread and demand for smartphone / tablet-based navigation devices is expected to grow. Real-time traffic data, map updates, and smartphone integration are just a few of the key features of automotive navigation systems and could attract significant customer demand over the next few years.

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Market Overview
Navigation systems help the driver of a vehicle to locate a particular destination and identify the best route for getting to that destination. Most automotive navigation systems use Global Positioning System (GPS) signals and electronic maps to identify the vehicle's current position relative to the desired destination. Advances in navigation system technology coupled with the increasing concerns related to the problem of traffic congestion, particularly in urban areas, and changing consumer behavior, towards better in-dash features. Thus, driving the market for automotive navigation system significantly.

COVID-19 Impact
The COVID-19 pandemic has Impacted the global supply chain of semiconductor chips which are heavily used in the hardware of navigation devices, which forced the manufacturers to remove all the high-end features from the device, which made it very basic. However, heavy adoption of electric vehicles is expected to aid in the growth of the Navigation systems market in the forthcoming years.

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Global automotive navigation systems market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Sales Channel Type, the market is primarily bifurcated into:
• OEM
• After Market
Based on the sales channel, the market is bifurcated into OEM and aftermarket. The aftermarket segment is predicted to hold the most significant CAGR during the forecast period. The factor attributed to the growth of the segment is the fitment rate from the aftermarket channels, as older cars do not come with an already fitted navigation system However, the OEM segment would witness the highest CAGR during the forthcoming years as the new vehicles are now coming up with the feature such as GPS, ADAS, etc.,

By Vehicle Type, the market is bifurcated into:
• Passenger cars
• Commercial vehicles
Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles. The Passenger Car segment is anticipated to have the highest CAGR in the forecast period. The factor towards the growth of this segment is augmented passenger vehicle production. The entire production of passenger cars improved in recent years. Therefore, the growing production of passenger vehicles is resulting in the demand for navigation systems, globally.

Global automotive navigation systems market geographical segmentation includes:
• North America
United States
Canada
Rest of North America
• Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
• Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
• Rest of the World
For a better understanding of the market adoption of the Automotive Navigation Systems industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, rest of North America); Europe (U.K, France, Germany, Spain, Italy, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. The Asia Pacific is a prominent region in the global automotive navigation systems market, expected to account for a substantial market share in 2020 with China and India being the key automotive navigation systems market in this region.

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The major players targeting the market include:
• Denso Corporation
• Harman International Industries Inc.
• Clarion Co. Ltd,
• Continental Reifen
• Deutschlnd GmbH,
• Aisin AW Co. Ltd,
• TomTom International BV,
• JVC Kenwood Corporation
• Panasonic Corporation
• Mitsubishi Electric Corporation

Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Automotive Navigation Systems market. The major players have been analyzed by using research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the global automotive navigation systems market?
• Which factors are influencing the global automotive navigation systems market over the forecast period?
• What are the global challenges, threats, and risks in the global automotive navigation systems market?
• Which factors are propelling and restraining the global automotive navigation systems market?
• What are the demanding global regions of the global automotive navigation systems market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?
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