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The car GPS navigation system market share is expected to increase to USD 12.30 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.09%.
This car GPS navigation system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers car global positioning system navigation system market segmentation by component (software and services and hardware) and geography (Europe, North America, APAC, Middle East and Africa, and South America). The car GPS navigation system market report also offers information on several market vendors, including Alps Alpine Co. Ltd., Apple Inc., Continental AG, DENSO TEN Ltd., Garmin Ltd., JVCKENWOOD Corp., Mitsubishi Electric Corp., NNG Software Developing and Commercial Llc., Panasonic Corp., Pioneer Corp., Renault sas, RM Acquisition LLC, Robert Bosch GmbH, Telenav Inc., TomTom International BV, and Ford Motor Co. among others.
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The growing advancement in the automotive industry is notably driving the car global positioning system (GPS) navigation system market growth, although factors such as decline in car production due to global semiconductor chip shortage may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the car GPS navigation system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Car GPS Navigation System Market Driver
One of the key factors driving the global car global positioning system (GPS) navigation system industry growth is the growing advancement in the automotive industry. The technological advances in the sector and the rising penetration rate of automotive electronics in vehicles have made the market highly competitive. In the last ten years, the penetration rate of advanced automotive technologies such as GPS navigation systems has significantly increased. The increase in luxury vehicle launches and growth in consumer awareness have favored the penetration of such advanced automotive technologies in mass-segment vehicles. For instance, in March 2021, TomTom International BV announced the arrival of TomTom Navigation for Automotive, which is a cloud-native hybrid navigation solution developed for the automotive industry. The rising adoption of cloud platforms in the automotive industry will further support the market growth during the forecast period.
Key Car GPS Navigation System Market Trend
Growing investment in satellite deployment is one of the key car global positioning system (GPS) navigation system market trends that is expected to impact the industry positively in the forecast period. GPS navigation systems allow car owners to monitor and track their movements by using both satellite and cellular signals. Thus, the global GPS market is observing a significant investment in the deployment of new satellites. Some of the instances related to the same are as follows:
The growing deployment of these satellites will increase the adoption of car GPS navigation systems and, in turn, drive the growth of the market.
Key Car GPS Navigation System Market Challenge
One of the key challenges to the global car global positioning system (GPS) navigation system industry growth is the decline in car production due to the global semiconductor chip shortage. Some of the instances include:
Such factors may hamper the car GPS navigation system market growth during the forecast period.
This car GPS navigation system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global car GPS navigation system market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the car GPS navigation system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the car GPS navigation system market encompasses successful business strategies deployed by the key vendors. The car GPS navigation system market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The car GPS navigation system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the car GPS navigation system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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30% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for car GPS navigation systems in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Europe is another potential market for car GPS navigation systems. The growing market demand for commercial, electric, and hybrid vehicles has led to increasing investment by automotive manufacturers in setting up new manufacturing plants in the region, which will facilitate the car GPS navigation system market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, following the outbreak of the COVID-19 pandemic, the Europe automobile industry faced widespread production losses as factories were shut down as per the lockdown protocols. For instance, in March 2020, Volkswagen AG announced the temporary closure of its European plants, including those in Spain, Portugal, Slovakia, and Italy. However, with the marked decline in the number of COVID-19 cases following the rising vaccination rate, automobile industry players are resuming investments and production in the region. This has positively impacted the sales of the various automobiles. Thus, the growth in automobile sales, new product launches, the electrification of vehicles, and government initiatives for electric vehicles will have a positive impact on the regional market in focus during the forecast period.
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The car GPS navigation system market share growth by the software and services segment will be significant during the forecast period. The software enables the hardware device that is used to track or locate any vehicle or asset through the use of GPS satellites and cellular networks. GPS navigation systems are used to pinpoint the longitude, latitude, ground speed, and course direction of the target.TomTom Navigation offers Cloud-native for automotive, which offers the advantage of hyper-fast routing, search, and maps. These advancements are expected to contribute to the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the car GPS navigation system market size and actionable market insights on post COVID-19 impact on each segment.
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Automotive Navigation Systems market - The Market share is expected to increase by 7.28 million units from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.34%.
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Car GPS Navigation System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.09% |
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Market growth 2022-2026 |
$ 12.30 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
10.12 |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 30% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alps Alpine Co. Ltd., Apple Inc., Continental AG, DENSO TEN Ltd., Garmin Ltd., JVCKENWOOD Corp., Mitsubishi Electric Corp., NNG Software Developing and Commercial Llc., Panasonic Corp., Pioneer Corp., Renault sas, RM Acquisition LLC, Robert Bosch GmbH, Telenav Inc., TomTom International BV, and Ford Motor Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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