Market Research Report
North America Automotive Navigation System Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||802169|
|Published||Content info||104 Pages
Delivery time: 1-2 business days
|North America Automotive Navigation System Market Forecast 2019-2027|
|Published: March 9, 2019||Content info: 104 Pages||
The steady demand for navigation systems from the light commercial vehicles is primarily driving the market for navigation systems in North America. It is expected that over the forecast period of 2019-2027, the market for automotive navigation services will be proliferating at a CAGR of 8.27% in North America. The growth of this market is also driven by factors such as an increase in the number of vehicle sales worldwide, increasing demands from the dependent sectors and demand for real-time traffic data.
The United States and Canada are considered for the market analysis. The low interest rates and growing customer confidence in the US, better audio systems, navigation systems, etc. infotainment services are also responsible for the growth of the automotive navigation services market in the US.
After the subsequent hike post the recession, there has been a retract of the production and sales statistics close to the pre-recession levels in a majority of the countries in the region. This spike in the automotive industry and demand for more functions in the vehicle has resulted in growing automobile production with additional features like the navigation system.
The most prominent companies responsible for the market growth in the North American region are Chevrolet, Toyota, Bosch, Denso, Harman, Audi, Alpine, Honda, Ford, Nissan, Hyundai, Mitsubishi Electric Corporation, Garmin, Renault, Elektrobit Automotive GmbH and BMW.