January 05, 2021
According to the research report titled ‘Global Automotive Navigation System Market Analysis, 2020‘, available with Market Study Report LLC, global automotive navigation system market is expected to grow with a CAGR of 8% through 2025.
Increasing number of ride-hailing apps like Uber, Ola, Grad, and Didi, along with imposition of strict safety regulations by the government are fueling the growth of global automotive navigation system market. Further, rise in sales of passenger cars is contributing to the industry growth.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3114667/
Also, adoption of latest technologies by the manufacturers for improving the device performance, in consort with application of the system for ecommerce delivery and logistics are propelling the global automotive navigation system market growth. However, high cost and concerns regarding cyber threats may hamper the industry growth in the coming years.
Speaking of demand type, worldwide automotive navigation system industry is bifurcated into personal navigation systems, aftermarket, factory fitted device, portable navigation systems, and OEMs.
Based on vehicle type, the market is segmented into passenger car, and commercial car. Among these, the passenger car segment is expected to witness significant gains during the forecast period, owing to rising deployment of navigation system in luxury as well as economy cars.
With respect to device type, global automotive navigation system market is divided into portable navigation systems, and in-dash navigation systems. As per the report, portable navigation systems are gaining popularity owing to their ease of handling and portability. On the other hand, the in-dash navigation system segment is reckoned to amass notable returns, as these systems are deployed in high-end luxury cars, and registering demand for mid-sized cars as well.
From a regional point of reference, Europe currently holds the largest share in global automotive navigation system industry, followed by North America. Whereas, APAC market is expected to record significant growth during the forecast years, mainly due to rising deployment of navigation systems in passenger cars across the region.
Major players influencing global automotive navigation system market trends are Mitsubishi Electric Corporation, Texas Instruments Inc., Samsung Group, MediaTek Inc., DENSO Corporation, Clarion Co. Ltd., Alpine Electronics Inc., Delphi Automotive plc (Aptiv plc), Garmin Ltd., and Harman International Industries Inc.