Market Research Report
Global Automotive Navigation System Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||408521|
|Published||Content info||145 Pages
Delivery time: 2-3 business days
|Global Automotive Navigation System Market Forecast 2019-2027|
|Published: March 9, 2019||Content info: 145 Pages||
Automotive navigation system utilizes GPS or Global Positioning System combined with computer mapping techniques that offer three-dimensional positions with respect to the velocity, time and information. The automotive navigation system can be used to communicate with radio, other signals or a combination of these to communicate with a vessel or vehicle. GPS is a significant innovation by the wireless telecommunication industry and is considered an essential global utility tool for navigation in the sea and on land or at a measurable distance from the earth's surface.
The schematic pictograms, map view, distance prompts and voice prompts are some the advanced functional services that are supplied by the automotive navigation system. The global automotive navigation system market by tools generated revenue of $xx million in 2018 and is anticipated to contribute $31,883 million by 2027, growing at a CAGR of 9.95% during the forecast period of 2019-2027.
Increase in the availability of data and information, the shift in consumer demands and extended regulatory requirements are some of the driving factors for the market growth. The strong and profitable growth of the automotive industry is very influential for the advancement of the automotive navigation system market.
Increasing demands from the dependent sectors like that of the taxi sector, logistics and e-commerce sectors require the location of various addresses. The growing demand for rentals car services, like Uber and Ola, worldwide is one of the driving factors for the nurturing the automotive navigation system market. The automotive navigation system market is segmented on the basis of geography, end-user, vehicle, and components.
Asia Pacific region in the global automotive navigation system market by geography captures the majority of the market share. The Asia Pacific contributed xx% of market share in 2018 & is estimated to contribute a share of xx% in 2027. It is also anticipated to be the fastest growing region in the market during the forecast period 2019-2027. The region provides extra interest because of having large markets with crucial sales growth potential and important automotive manufacturing hubs to produce for Asia and the world.
Ford, Toyota, BMW, Denso, Garmin, Chevrolet, Mitsubishi Electric Corporation, Alpine, Harman, Bosch, Hyundai, Renault, Audi, Honda, Nissan, and Elektrobit Automotive GmbH are the prominent market players operating in the global arena. Mergers and acquisitions are the major types of strategies adopted by these establishments for wide expansion across the global market.