Car GPS Navigation System Market

Integration of Smartphones with IVS and Technological Advancements to Fuel Growth of Car GPS Navigation System Market

One of the key reasons for the growth of the automotive navigation systems market is the integration of smartphones with IVS (in-vehicle systems). Smartphone adoption has risen in recent years, which is projected to drive up demand for smartphone/tablet-based navigation devices. Connected automobiles will be in great demand due to increased consumer desire for wireless connectivity and mobile internet, as well as the high prevalence of smartphones, and tablets. As a result, supply-side suppliers in the automotive industry are likely to adapt to the new digital lifestyle and integrate in-care internet connectivity options, resulting in increased demand for automotive navigation systems. This is prominently driving the growth of car GPS navigation system market.

Smartphone users accounted for 78.05 percent of the global population in the year 2020. Since 2008, the smartphone business has been gradually expanding, both in terms of market size, and the number of models and providers. In 2022, global smartphone shipments are expected to total roughly 1.43 billion devices. Car GPS navigation system market is also being driven by technological improvements. Devices that integrate traffic data with navigation systems, for example, are one such invention. These newer systems provide precise driving directions, receive, and show traffic congestion information, and recommend alternate routes to users. TMC, which uses RDS to give coded traffic information, or GPRS/3Gdata delivered by mobile phones are both used.

Advantages of Aftermarket Sales Channel in E-Commerce Industry to Drive Growth of Car GPS Navigation System Market

During the projected period, the aftermarket segment is expected to maintain a healthy revenue growth rate. Older cars that don't have a factory-installed navigation system can have an aftermarket navigation system placed on the dashboard or utilize a portable navigation system. With the growth of the e-commerce industry, e-commerce businesses are under pressure to deliver products on time to their customers. Several e-commerce companies are forming relationships with current logistic suppliers for business to customer (B2C) distribution. To fulfil this demand, logistics businesses have been expanding their fleets and adding more cars to their fleets. These trucks were usually equipped with satellite navigation systems to reach their customers on time. Additionally, during the projection period, the OEM segment is expected to increase significantly. Compared to portable navigation systems, OEM navigation systems offer a larger screen with higher resolution and a faster processor. The 10-inch screen, 1.3 GHz processor, and built-in 3D graphics chip in BMW's navigation system enable fluid browsing, and scrolling.

Increased Production and Export of Vehicles to Drive Growth of European Car GPS Navigation System Market

The European automobile industry has grown to become a major exporter of vehicles around the world, and government officials are seeking to mandate that all cars be connected to GPS systems as a safety measure. This will clearly fuel the progress of car GPS navigation system market in the region. The first set of standards for cooperative intelligence transport systems was released by the European Committee for Standardization (CEN) and the European Telecommunications Standards Institute (ETSI). The country is experiencing a sales boom and is home to automobile OEMs such as Renault, Mitsubishi Electric Corporation, Denso, Bosch, Nissan, Garmin, Hyundai, Toyota, and others. For example, passenger car sales in Europe have climbed from 14000 units in 2020 to 15900 units in 2021.

When considering navigation as a safety measure in automobiles, the safety and security service is the largest contributor in car GPS navigation system market. In the region, automakers and tier-1 suppliers have been putting the strength of navigation platform providers in data-based solutions to the test and establish their own digital services in areas like mobility management and navigation technology. For example, Robert Bosch teamed up with navigation service provider TomTom to give digital mapping services to self-driving cars, where not only automakers but also auto part suppliers are involved in supplying GPS services to the vehicles. The market for autonomous automobiles, and dependent navigation systems is being driven by rising demand for electric vehicles, high penetration of wireless communication technology, and the availability of superior telecom infrastructure across the region.

The huge number of manufacturers presence in Asia Pacific is predicted to beget the greatest CAGR for the region during the forecast period. Furthermore, the industry is likely to benefit from rapid technical improvements, and an increase in demand for commercial voyages. Because of the increasing passenger automobile market in the United States and Canada, North America is predicted to increase significantly over the projection period.

Global Car GPS Navigation System Market: Competitive Landscape

In September 2021, the Bolero Neo's second-to-top N10 variant will now be equipped with a new aftermarket infotainment system from Kenwood, according to Mahindra. The old unit will continue to be installed in the top-spec N10 (O) model. On the other hand, in May 2022, Volvo Car USA declared that the entire Volvo car lineup in the United States in 2023 will be mild hybrid, hybrid, or electric vehicles with Google built in. Every Volvo car comes with a best-in-class digital experience, including Google Assistant for voice control, Google Maps as the native navigation system, and the Google Play store for extra apps.

Few of the players in the car GPS navigation system market include Alpine Electronics, Inc., TomTom International BV, Continental AG, JVCKENWOOD Corporation, Pioneer Corporation, Mitsubishi Electric Corporation, Garmin Ltd., Panasonic Corporation, Sony Group Corporation, and Robert Bosch GmbH.

Regional Classification of the Global Car GPS Navigation System Market is Described Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability

Key Elements Included In The Study: Global Car GPS Navigation System Market

• Car GPS Navigation System Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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