Press release
Automotive Navigation Systems Market Size to Reach $47.55 Billion by 2029 | Growth at 5.2% CAGR Forecast
Automotive Navigation Systems
What is the Projected Market Size of the Automotive Navigation Systems Industry?
In recent times, there's been a notable expansion in the automotive navigation systems market. Projected growth indicates a surge from $36.59 billion in 2024 to $38.77 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.9%. Several factors have contributed to its historical growth, including increasing consumer demands for convenience, rising traffic congestion, government-enforced safety regulations, urbanization, and advancements in mapping and location services.
What Will Be the Size of the Automotive Navigation Systems Market by 2029?
The market size of automotive navigation systems is predicted to witness robust expansion in the coming years, reaching $47.55 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. The growth anticipated in the forecast period is largely due to the increased emphasis on predictive navigation, escalating demand for electric vehicles (EVs), improved user interfaces, incorporation into smart city infrastructure, and the need for personalized and context-aware services. Key trends expected during the forecast period encompass integration with augmented reality (AR), the connected car ecosystem, voice-enabled navigation, predictive navigation, synchronization with smartphones, 3D mapping and visualization, as well as integration with advanced driver assistance systems (ADAS).
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What Are the Key Drivers Accelerating Growth in the Automotive Navigation Systems Market?
The surge in vehicle volumes is predicted to drive the expansion of the automotive navigation systems market in the coming years. Vehicles are machines conceived or utilized for the conveyance of people or goods, predominantly on land, which include cars, trucks, buses, motorcycles, bicycles, amongst others. These navigation systems in vehicles aid in providing real-time directions, location specifics, instant traffic updates, and assistance to ensure a safe and efficient journey to the desired place. For instance, the global production of motor vehicles hit 85.4 million units in 2022, according to data from the European Automobile Manufacturers Association, a Belgium-based car manufacturing association. This marked a massive growth of 5.7% as compared to 2021. Hence, the surge in car numbers is fueling the expansion of the automotive navigation system market.
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How Is the Automotive Navigation Systems Market Segmented by Type, Application, and Region?
The automotive navigation systems market covered in this report is segmented -
1) By Component: Hardware, Software, Connectivity
2) By Navigation modes: 3D Navigation, 2D Navigation, Differential Global Positioning System (DGPS)
3) By Vehicle Type: Passenger cars, Commercial vehicles
4) By Sales Channel: Original Equipment Manufacturer, After market
5) By Applications: Car Navigations, Dynamic Vehicle Routing, Tracking Rental Cars, Monitoring High Risk Auto Loans
Subsegments:
1) By Hardware: GPS Receivers, Sensors, Displays
2) By Software: Mapping Software, Route Planning Software, Traffic Information Software
3) By Connectivity: Bluetooth, Wi-Fi, Cellular Connectivity
What Are the Key Trends Driving Growth in the Automotive Navigation Systems Market?
Leading businesses in the automotive navigation systems market are concentrating on cutting-edge technological products like customized navigation maps for improved user experience, more accurate route mapping, and personalized driving solutions. Navigation maps powered by AI are sophisticated systems that utilize artificial intelligence for precise, real-time directions and bespoke route suggestions. They make navigation more efficient by assessing traffic situations, user choices, and points of interest. For example, Genesys International, an Indian surveying services firm, introduced the first AI-driven navigation map in June 2024. The map features Intelligent Speed Assistance (ISA), notifying drivers about speed constraints and departures in lanes, thereby enhancing road safety.
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Who Are the Leading Companies Driving Growth in the Automotive Navigation Systems Market?
Major companies operating in the automotive navigation systems market are Ford Motor Company, BMW Group, Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, AISIN SEIKI Co. Ltd., Fujitsu Limited, Mitsubishi Motors Corporation, Harman International Industries, Garmin Ltd., Bose Corporation, JVCKENWOOD Corporation, Kenwood Corporation, HERE Technologies, MiTAC Holdings Corp., Pioneer Electronics, TomTom International BV, NNG Software Developing and Commercial LLC, Telenav Inc., clarion technologies, Delphi Technologies, Faurecia Clarion, Alpine Electronics, Navis-AMS
Which Is the Leading Region in the Global Automotive Navigation Systems Market?
North America was the largest region in the automotive navigation systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive navigation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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