Europe Automotive Navigation System Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023- 2028)

Europe Automotive Navigation System Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023- 2028)

The Europe Automotive Navigation Systems Market is anticipated to register a CAGR of about 5.89% during the forecast period.

The COVID-19 crisis caused market uncertainty for automobile GPS navigation systems. The pandemic caused a significant slowdown in the supply chain, a drop in corporate confidence, and increased consumer concern. Governments in several areas imposed total lockdowns and temporary industry closures, which harmed the production and sale of car GPS navigation systems. However, post-pandemic players are collaborating and indulging in various strategic partnerships to overcome the losses during the pandemic. For instance,

• August 2022: Unity Technologies announced a collaboration with Mercedes-Benz AG to power the infotainment domain of its new operating system, rolled out across the company's vehicle lineup. Unity's leadership in real-time 3D development will aid in developing 3D maps for more prosperous navigation.

The demand for precise automotive navigation technology is increasing all the time. It aids in the tracking and forecasting of supply chains, resulting in a real-time-definite delivery system. The application is used by applications such as e-commerce and food delivery apps. Furthermore, car-sharing services such as Ola, Uber, and Grab rely heavily on navigation-based technology. As a result, the Europe Automotive Navigation Systems Market is expected to expand over the next few years. For instance,

• September 2022: Hyundai Motor Group (HMG) choosed TomTom maps and real-time traffic data to support its entire vehicle lineup in Europe. Millions of HMG vehicles will be equipped with this technology as standard in the coming years. As with Genesis customers, all Hyundai and Kia customers in Europe now have access to TomTom's high-quality maps to support their vehicles' in-dash navigation and level-two automated driving features.

Policymakers in the EU are mandating the integration of automobile navigation systems to create databases that will assist transportation organizations in maintaining costs, reducing maintenance, and improving road safety. All of these developments will fuel the expansion of Automotive Navigation Systems in the European market. For instance,

• May 2022: GPS navigation will be standard in new cars due to new EU regulations. The EU includes the world's strictest vehicle safety standards. Intelligent Speed Assistance (ISA) will be required for all new EU cars introduced to the market and will be mandatory for all new vehicles sold in the EU beginning in July 2024.

However, hindrances such as the high cost of navigation, telecommunication, cybersecurity, and infrastructure connectivity can slow growth. High fuel prices, low demand for self-driven cars over the past years, and the emergence of electric vehicles are other factors hindering the development. Nevertheless, GPS is essential in the future of Intelligent Transportation Systems (ITS) and shows positive growth.

An automotive navigation system's primary features include real-time data integration, map updates, and smartphone integration. With increasing internet access via mobile phones, manufacturers opt for all built-in functions of an in-vehicle GPS in the user's smartphone system while keeping costs low.

The demand for navigation systems is increasing, particularly among ride-hailing apps, expecting to drive the market forward. GPS devices are primarily used by car fleets like Uber and Grab to manage their carpool by tracking the activity of their drivers and passengers. Both passive and active tracking can provide the owner with valuable information. The industry can benefit significantly from analyzing this stored data and real-time monitoring.

The estimated delays on highways, transit systems, and streets worldwide result in productivity loss, with billions of dollars wasted annually. Furthermore, industries such as e-commerce and logistics get heavily impacted in remote locations where navigation tracking is impossible. As a result, GPS-based systems rely on navigation systems with improving technology for locating various addressees in traffic on highways and roadways, and recommending different routes based on real-time traffic is an essential feature.

Security and safety are essential factors in the automotive market in Germany. As a result, Germany intends to require GPS systems in all vehicles manufactured after 2020. To meet the EU region's safety demand, the European Telecommunications Standards Institute (ETSI) and European Committee for Standardization (CEN) have also issued standards for intelligent transport systems (ITS). As a result, new cars must include 3G/4G and GPS systems, laying the groundwork for car navigation systems.

Automakers and tier-1 suppliers have consistently tested the navigation platform's strength for better data-driven solutions to develop their digital services in mobility management and navigation technology.

Moreover, partnerships between OEMs and system manufacturers are taking place to develop better navigation infrastructure. For instance,

• October 2022: The BMW Group announced that the latest "Remote Software Upgrade" is free for vehicles equipped with BMW Operating System 8. The Remote Software Upgrade significantly improves the "charging route" function of the cloud-based BMW Maps navigation system in all-electric models equipped with BMW Operating System 8.

Over the last decade, the Europe Automotive Navigation System market consolidated with existing players. Alpine Electronics, Aisin Aw Co.Ltd, Continental AG, Clarion, Pioneer, Mitsubishi Electric Corporation, Garmin, and Denso Corporation are the key players in the Europe Automotive Navigation System Market. Although to gain a competitive advantage, significant actuators manufacturing companies are forming joint ventures and partnerships to launch newer products.

• October 2022: MTS Auto LLC, a 100% subsidiary of MTS, and Mobile TeleSystems Public Joint Stock Company (MTS) announced an investment in Navitel Group, a Russian provider of navigation and cartographic solutions. MTS will gain control of Navitel Group, allowing it to develop its own GeoServices platform for creating a service and transportation ecosystem.
• July 2022: Mercedes Benz announced that the new edition of the Mercedes Benz GLC is now on the market. The latest generation of the MBUX infotainment system with two large, standard displays and a full-screen navigation system are among its best features.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support