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The Rise Of AI-Powered Maps In Automotive Technology Industry Trends Gaining Momentum in the Global Automotive Navigation Systems Market
Automotive Navigation Systems Market
Automotive Navigation Systems Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for automotive navigation systems has witnessed significant expansion in the past few years. The growth is expected to continue, rising from $36.59 billion in 2024 to $39.31 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%. Various factors have contributed to this growth in the historical period, including the consumers' desire for convenience, escalating traffic congestion, governmental safety regulations, the surge in urbanization, and advancements in mapping and location services.
Automotive Navigation Systems Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market size of automotive navigation systems is anticipated to witness robust growth. The market is projected to expand to $49.28 billion by 2029, registering a compound annual growth rate (CAGR) of 5.8%. The surge during the forecast period can be associated with a heightened emphasis on predictive navigation, increased demand for Electric Vehicles (EVs), improved user interfaces, the melding with smart city infrastructure, and the need for personalized and context-aware services. Key trends during this period include the integration of augmented reality (AR), the emergence of the connected car ecosystem, voice-controlled navigation, predictive navigation, compatibility with smartphones, 3D mapping and visualization, and integration with Advanced Driver Assistance Systems (ADAS).
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What Are the Drivers Transforming the Automotive Navigation Systems Market?
The increasing count of automobiles is anticipated to drive the expansion of the automotive navigation systems market. Automobiles are typically land-based machines used for carrying individuals or goods, such as cars, buses, trucks, motorcycles, bicycles, among others. These navigation systems used in automobiles deliver real-time direction, location data, traffic updates on the move, and help in reaching the desired location safely and efficiently. For example, global production of motor vehicles touched 85.4 million units in 2022, a substantial growth of 5.7% from 2021, as per the European Automobile Manufacturers Association, a Belgium-based organization, in May 2023. Therefore, the rising count of automobiles is fueling the expansion of the automotive navigation system market.
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What Long-Term Trends Will Define the Future of the Automotive Navigation Systems Market?
Primarily, businesses operating in the car navigation systems market are concentrating on groundbreaking technological offerings, like customized navigation maps, in a bid to boost user interaction, better routing precision, and furnish personalized driving aids. Navigation maps fortified with artificial intelligence are cutting-edge systems that employ AI to offer precise, real-time directions and custom route suggestions. These tools enhance navigation by examining traffic situations, user inclinations, and places of interest. For instance, Genesys International, a surveying services firm from India, rolled out the first navigation map powered by AI in June 2024. This map comes with an Intelligent Speed Assistance (ISA), warning drivers about speed restrictions and departures from lanes, thereby escalating road safety.
Which Segments in the Automotive Navigation Systems Market Offer the Most Profit Potential?
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, After market
5) By Applications: Car Navigations, Dynamic Vehicle Routing, Tracking Rental Cars, Monitoring High Risk Auto Loans
Subsegments:
1) By Hardware: GPS Receivers, Sensors, Displays
2) By Software: Mapping Software, Route Planning Software, Traffic Information Software
3) By Connectivity: Bluetooth, Wi-Fi, Cellular Connectivity
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Which Firms Dominate the Automotive Navigation Systems Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Automotive Navigation Systems Market?
North America was the largest region in the automotive navigation systems market in 2024. 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.
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