ASEAN Car GPS Navigation Systems Market Report and Forecast 2024-2032

ASEAN Car GPS Navigation Systems Market Report and Forecast 2024-2032

ASEAN Car GPS Navigation Systems Market Report and Forecast 2024-2032

Market outlook

According to the report by Expert Market Research (EMR), the ASEAN car GPS navigation systems market size reached a value of USD 1.45 billion in 2023. Aided by the increasing demand for advanced navigation solutions and the growing applications of GPS navigation systems in the automotive sector, the market is projected to further grow at a CAGR of 11.1% between 2024 and 2032 to reach a value of USD 3.76 billion by 2032.

Car GPS navigation systems are essential tools in modern vehicles, providing real-time directions, traffic updates, and location-based services. These systems enhance the driving experience by offering accurate and efficient navigation, reducing travel time, and improving road safety. The market is experiencing significant growth due to the rising demand for connected vehicles, increasing disposable incomes, and the continuous advancement in GPS technology.

The increasing demand for advanced navigation solutions is driving the ASEAN car GPS navigation systems market growth. As consumers become more tech-savvy and seek convenience in their daily lives, there is a growing demand for high-quality and reliable navigation systems in vehicles. GPS navigation systems provide real-time traffic updates, turn-by-turn directions, and alternative routes, enhancing the overall driving experience. The rising awareness of the benefits of GPS navigation systems, coupled with the growing adoption of connected vehicles, has driven the market growth in the ASEAN region.

The rising trend of urbanisation and the increasing number of vehicles on the road also play a significant role in the market's growth. As more people move to urban areas, there is a growing need for efficient navigation solutions to manage the increasing traffic congestion and ensure smooth travel. GPS navigation systems help drivers navigate through busy city streets, avoid traffic jams, and reach their destinations more efficiently. The increasing focus on improving road safety and reducing travel time has further boosted the demand for car GPS navigation systems.

The expanding applications of GPS navigation systems in various sectors significantly contribute to the market's growth. In the automotive sector, GPS navigation systems are used in passenger cars, commercial vehicles, and electric vehicles to provide real-time navigation and enhance the driving experience. The increasing production and sales of vehicles, driven by rising disposable incomes and economic development in the ASEAN region, have boosted the adoption of GPS navigation systems in the automotive sector, consequently driving up the ASEAN car GPS navigation systems market share.

In the logistics and transportation sector, GPS navigation systems are employed to optimise route planning, track vehicle locations, and improve fleet management. The growing focus on enhancing operational efficiency, reducing fuel consumption, and ensuring timely deliveries has driven the adoption of GPS navigation systems in logistics and transportation. Additionally, GPS navigation systems are used in emergency response vehicles to provide accurate and efficient navigation during emergencies, improving response times and saving lives.

The ASEAN region holds a significant share in the market, driven by the increasing demand for advanced navigation solutions, the presence of leading automotive manufacturers, and a well-established transportation infrastructure in the region. The rising demand for connected vehicles, coupled with supportive government policies and incentives, has boosted the market growth in the ASEAN region. Moreover, the region's strong focus on economic development and infrastructure improvement further supports market growth.

As per the ASEAN car GPS navigation systems market analysis, the passenger cars segment represents the largest vehicle type, driven by the increasing production and sales of passenger cars and the rising demand for advanced navigation solutions in these vehicles. The commercial vehicles segment is also significant, with GPS navigation systems being used to optimize route planning, track vehicle locations, and improve fleet management.

Market Segmentation

The market can be divided based on component, vehicle type, sales channel, and region

Market Breakup by Component

• Hardware
• Software
• Services

Market Breakup by Vehicle Type

• Passenger Cars
• Commercial Vehicles

Market Breakup by Sales Channel

• Original Equipment Manufacturer (OEM)
• Aftermarket

Market Breakup by Region

• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Others

Competitive landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in ASEAN car GPS navigation systems market. some of the major players explored in the report by expert market research are as follows:

• Sony Corporation
• Robert Bosch GmbH
• Garmin Ltd.
• Pioneer Corporation
• TomTom International BV
• Mitsubishi Electric Corporation
• Alpine Electronics, Inc.
• Denso Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.