Automotive Navigation Systems Market Estimated Growth Curve, Trends, Size, Share And Analysis Report 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Automotive Navigation Systems Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $46.66 billion In 2028 At A CAGR Of 6.3% :

The automotive navigation systems market size has grown strongly in recent years. It will grow from $34.01 billion in 2023 to $36.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to consumer demand for convenience, increasing traffic congestion, government regulations on safety, rise in urbanization, improved mapping and location services.

The automotive navigation systems market size is expected to see strong growth in the next few years. It will grow to $46.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increased focus on predictive navigation, rising demand for electric vehicles (EVs), enhanced user interfaces, integration with smart city infrastructure, and demand for personalized and context-aware services. Major trends in the forecast period include augmented reality (AR) integration, connected car ecosystem, voice-activated navigation, predictive navigation, integration with smartphones, 3d mapping and visualization, integration with advanced driver assistance systems (ADAS).

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Automotive Navigation Systems Market Major Segments
The automotive navigation systems market covered in this report is segmented -

1) By Component: Hardware, Software, Connectivity
2) By Navigation modes: 3D Navigation, 2D Navigation, Differential Global Positioning System (DGPS)
3) By Vehicle Type: Passenger cars, Commercial vehicles
4) By Sales Channel: Original Equipment Manufacturer, Aftermarket
5) By Applications: Car Navigations, Dynamic Vehicle Routing, Tracking Rental Cars, Monitoring High Risk Auto Loans

Key Driver - Surging Global Vehicle Fuels Growth In Automotive Navigation Systems Market

The growing number of vehicles is expected to propel the growth of the automotive navigation systems market going forward. Vehicles refer to any machine designed or used for transporting people or goods, typically on land, such as cars, trucks, buses, motorcycles, bicycles, and more. Automotive navigation systems are used in vehicles to provide real-time directions, location information, on-the-fly traffic updates, and guidance to reach their destination efficiently and safely. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, the global production of motor vehicles reached 85.4 million units in 2022, reflecting a notable increase of 5.7% compared to 2021. Furthermore, according to Brand Finance plc, a UK-based brand valuation company, the automobile sector achieved approximately 78 million unit sales in 2022, marking a substantial 10% increase compared to both 2021 and 2020. Therefore, the growing number of vehicles is driving the growth of the automotive navigation system market.

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Prominent Trend - Innovative In-Vehicle Navigation Systems Transforming Automotive Industry

Major companies operating in the automotive navigation systems market are focusing on innovative technological products, such as Maps+, in vehicle-app-based navigation systems to provide drivers with a seamless and personalized navigation experience. An in-vehicle app-based navigation system refers to a navigation system integrated directly into a vehicle's onboard infotainment system or dashboard display, which relies on software applications (apps) to provide navigation functionality. For instance, in April 2021, General Motors, a US-based automotive manufacturing company, introduced Maps+, an in-vehicle app-based navigation system. This innovative system is designed to provide an enhanced and convenient in-vehicle experience for drivers. Additionally, Maps+ is powered by Mapbox and offers features such as cross-app integration, personalization, and contextually relevant services. It also offers embedded speed limit alerts, low fuel recognition, and the ability to provide directions based on real-time traffic conditions.

Automotive Navigation Systems Market Players
Major companies operating in the automotive navigation systems market are Ford Motor Company, BMW Group, Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, AISIN SEIKI Co. Ltd., Fujitsu Limited, Mitsubishi Motors Corporation, Harman International Industries, Garmin Ltd., Bose Corporation, JVCKENWOOD Corporation, Kenwood Corporation, HERE Technologies, MiTAC Holdings Corp., Pioneer Electronics, TomTom International BV , NNG Software Developing and Commercial LLC, Telenav Inc., clarion technologies, Delphi Technologies, Faurecia Clarion, Alpine Electronics, Navis-AMS

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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive navigation systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive navigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Navigation Systems Market Report Structure
3. Automotive Navigation Systems Market Trends And Strategies
4. Automotive Navigation Systems Market - Macro Economic Scenario
5. Automotive Navigation Systems Market Size And Growth
…..
27. Automotive Navigation Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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