Global Automotive Navigation System Market 2023-2030

Global Automotive Navigation System Market 2023-2030

Global Automotive Navigation System Market Size, Share & Trends Analysis Report by Sales Channel Type (OEM, and Aftermarket), by Vehicle Type (Passenger Car, and Commercial Vehicle), by Technology (2D Maps, and 3D Maps), and by Navigation Services (Fleet Management Services, Real Time Traffic and Direction Information System, and Others), Forecast Period (2023-2030)

The global automotive navigation System market is anticipated to grow at a CAGR of 7.4% during the forecast period (2023-2030). The market’s growth is attributed to growing demand for connected vehicles across the globe. A significant driver is the rising desire for connected cars with innovative navigation and entertainment systems. Consumers anticipate the seamless integration of infotainment and navigation systems in automobiles. The STA8135GA's innovative combination of a triple-band positioning engine, multi-band PVT, and dead-reckoning capabilities represents a considerable breakthrough in supplying the accurate location data required by advanced automobile navigation systems. For instance, in January 2022, STMicroelectronics, has released a device that states is the initial automotive satellite-navigation chip, delivering the high-quality position data required by modern driving systems. The STA8135GA is the first automotive-qualified GNSS (Global Navigation Satellite System) receiver to combine a triple-band positioning measurement engine on-chip, in addition to the usual multi-band Position-Velocity-Time (PVT) and dead-reckoning.

Segmental Outlook

The global automotive navigation system market is segmented on the sales channel type, vehicle type, technology, and navigation services. Based on the sales channel type, the market is sub-segmented into OEM, and aftermarket. Based on the vehicle type, the market is sub-segmented into passenger car, and commercial vehicle. Based on the technology, the market is sub-segmented into 2D maps, and 3D maps. Further, on the basis of navigation services, the market is sub-segmented into fleet management services, real time traffic and direction information system, and others. The passenger car subcategory is expected to capture a significant portion of the market share within the vehicle type segment. This is attributed to the rapid expansion in the manufacture of passenger automobiles and other features such as real-time traffic updates that save travelers' time on congested routes.

The Fleet Management Services Sub-Segment is Anticipated to Hold a Considerable Share of the Global Automotive Navigation System Market

Among the navigation services, the fleet management services sub-segment is expected to hold a considerable share of the global automotive navigation system market. The segmental growth is attributed to the implementation of a 4G LTE OBD-II device into Housecall Pro's Fleet Management Solution, allowing for real-time vehicle tracking within the software, is a development that has contributed to the growth of the Automotive Navigation System Market. This is owing to the demand for efficient fleet management solutions within home service businesses, that require optimized route planning and real-time tracking for operational efficiency and customer service. in March 2022, Mojio Partners with Housecall Pro to Launched Integrated Fleet Management Solution for Home Service Businesses. A 4G LTE OBD-II device that installs rapidly and produces a map view of actual time vehicle location inside of Housecall Pro's software is part of the new Vehicle GPS Tracking service.

Regional Outlook

The global automotive navigation system market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia Europe is anticipated to hold a prominent share of the market across the globe, owing to navigation is a safety feature in cars, the region's governments are proposing to require that all vehicles be connected to GPS systems. GPS systems are the major contributor for security and safety services in the automotive sector.

The North America Region is Expected to Grow at a Significant CAGR in the Global Automotive Navigation System Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the According to International Trade Administration (.Gov), in September 2022, a total of 1,183,405,694 new light trucks and passenger cars were produced locally in 2018. The total volume of domestic output rose to 1,217,611,896 in 2019. The total domestic output fell to 1,124,986,208 in 2020. The whole regional output reached again in 2021, reaching 1,137,191,007. The full local production is partially known as of 2022 (estimated). In 2018, the total number of new passenger cars and light trucks imported was 37.6, followed by 35.5 in 2019 and 35.0 in 2020. It remains to be determined exactly numerous new cars and light trucks are expected to be imported overall in 2021. New passenger vehicle and light truck exports totaled 53.1 in 2018, 59.5 in 2019, 47.6 in 2020, and 55.7 in 2021. Furthermore, the US is a major exporter of automotive parts to Mexico, with USD 94 billion in annual revenues generated. The large passenger vehicle market and proximity to the US makes Mexican demand for US OEMs and aftermarket parts robust. For US suppliers to enter the Mexican market efficiently, local representation or regional distribution is recommended. Tier 2 suppliers are the most exported items from the US, although opportunities are also available for production machinery, equipment, materials, pre-assembled components, and more

Market Players Outlook

The major companies serving the automotive navigation system market include DENSO Corp., Faurecia Clarion, Garmin Ltd., HARMAN International, JVCKENWOOD Group. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Cox Automotive Launched vAuto ProfitTime GPS with the Industry’s First Multichannel Inventory Sourcing System.to assist dealers in maximizing the sourcing of their inventory through unconventional channels.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global automotive navigation system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.