PUBLISHER: Lucintel | PRODUCT CODE: 1418184
PUBLISHER: Lucintel | PRODUCT CODE: 1418184
Automotive Navigation System Trends and Forecast
The future of the global automotive navigation system market looks promising with opportunities in the OEM and aftermarket markets. The global automotive navigation system market is expected to reach an estimated $47.2 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are rising sales of automobiles and a rise in the use of cellphones equipped with IVS systems, growing consumer demand for mobile internet and wireless connectivity with the high level of penetration of tablets and smartphones, and increasing availability of high-speed internet connectivity in vehicles with advanced navigation features, such as live traffic updates and online search.
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Automotive Navigation System by Segment
The study includes a forecast for the global automotive navigation system by vehicle type, end use, and region.
List of Automotive Navigation System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive navigation system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive navigation system companies profiled in this report include-
Automotive Navigation System Market Insights
Lucintel forecasts that passenger car will remain the larger segment over the forecast period due to the rapid rise in the manufacturing of passenger cars and additional amenities like real-time traffic information that help drivers to avoid traffic jams.
Europe will remain the largest region over the forecast period because the European auto industry has grown to be a major global supplier of automobiles, and it regards navigation as a safety feature for its vehicles, and the government organizations intend to guarantee that every car is GPS-connected.
Features of the Global Automotive Navigation System Market
Market Size Estimates: Automotive navigation system market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive navigation system market size by vehicle type, end use, and region in terms of value ($B).
Regional Analysis: Automotive navigation system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different vehicle type, end use, and regions for the automotive navigation system market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive navigation system market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
FAQ
Q1. What is the automotive navigation system market size?
Answer: The global automotive navigation system market is expected to reach an estimated $47.2 billion by 2030.
Q2. What is the growth forecast for automotive navigation system market?
Answer: The global automotive navigation system market is expected to grow with a CAGR of 6.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the automotive navigation system market?
Answer: The major drivers for this market are rising sales of automobiles and a rise in the use of cellphones equipped with IVS systems, growing consumer demand for mobile internet and wireless connectivity with the high level of penetration of tablets and smartphones, and increasing availability of high-speed internet connectivity in vehicles with advanced navigation features, such as live traffic updates and online search.
Q4. What are the major segments for automotive navigation system market?
Answer: The future of the global automotive navigation system market looks promising with opportunities in the OEM and aftermarket markets.
Q5. Who are the key automotive navigation system market companies?
Answer: Some of the key automotive navigation system companies are as follows.
Q6. Which automotive navigation system market segment will be the largest in future?
Answer: Lucintel forecasts that passenger car will remain the larger segment over the forecast period due to the rapid rise in the manufacturing of passenger cars and additional amenities like real-time traffic information that help drivers to avoid traffic jams.
Q7. In automotive navigation system market, which region is expected to be the largest in next 5 years?
Answer: Europe will remain the largest region over the forecast period because the European auto industry has grown to be a major global supplier of automobiles, and it regards navigation as a safety feature for its vehicles, and the government organizations intend to guarantee that every car is GPS-connected.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.