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The car GPS navigation system market size is estimated to grow by USD 9.75 billion at a CAGR of 10.03% between 2023 and 2028. The automotive industry is experiencing significant advancements, with a key focus on connected cars. These vehicles offer enhanced connectivity, enabling real-time traffic updates, remote diagnostics, and improved driver assistance systems. The increasing demand for connected cars is driven by consumers seeking greater convenience and safety. Additionally, government regulations are pushing for increased in-vehicle safety and improvement in safety controls. This trend is expected to continue, with estimates suggesting that by 2025, over 75% of new cars sold will be connected. The integration of advanced technologies such as 5G, artificial intelligence, and machine learning will further revolutionize the automotive industry, offering new features and benefits to consumers.
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GPS navigation systems have revolutionized road travel by providing accurate location tracking, voice instructions, real-time traffic updates, and automobile safety features. These electronic devices use a GPS receiver to connect to a satellite link and function as a computer mapping tool, guiding drivers to their destinations. Voice recognition and audio/video components enhance user experience. Navigation system gadgets offer features like vehicle tracking, positioning, real-time traffic information, and emergency assistance. Banks, gas stations, hospitals, restaurants, and ride-hailing services are some of the key industries leveraging GPS navigation systems. The market for these systems is growing due to the increasing demand for convenience, safety, and efficiency in travel. Real-time traffic updates help drivers avoid congestion and reach their destinations faster. Additionally, environmental concerns and vehicle emissions regulations are driving the adoption of GPS navigation systems for optimizing routes and reducing fuel consumption. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing advancement in automotive industry is notably driving market growth. The global automotive industry is undergoing significant transformations, driven by advancements in technology and the increasing integration of electronics in vehicles. The shift towards shared and connected car models, the emergence of ride-hailing services, and the growing penetration of GPS technology in automobiles are key factors fueling market growth in the car GPS navigation system sector. Hardware components, such as GPS receivers and audio/video components, form the backbone of these systems. OEMs and aftermarket players offer both factory-fitted and add-on GPS navigation systems. These systems provide real-time traffic information, voice and visual instructions, driver alerts, and vehicle tracking, enhancing safety and convenience for consumers. Connected cars, electric and hybrid vehicles, light commercial vehicles, and heavy commercial vehicles all benefit from GPS technology. Telecommunication infrastructure, software & services, and semiconductor chips play crucial roles in enabling these advanced features. The market is further segmented based on screen size, propulsion, and vehicle type. Banks, gas stations, hospitals, restaurants, and other essential services are often integrated into these systems, offering added value to consumers. In the context of autonomous and assisted driving, GPS technology plays a pivotal role in intelligent speed adaptation and positioning. The future of the car GPS navigation system market lies in data sharing, software updates, and continuous innovation. Thus, such factors are driving the growth of the market during the forecast period.
The growing investment in satellite deployment is the key trend in the market. The market encompasses hardware components, including GPS receivers and audio/video components, that are integrated into both factory-fitted and add-on accessories in automobiles. These systems utilize GPS technology to provide real-time positioning and enable vehicle tracking. They offer voice and visual instructions to drivers, as well as driver alerts for banks, gas stations, hospitals, restaurants, and other points of interest. OEMs and aftermarket providers offer in-dash navigation systems, connected cars, and fleet management solutions for various vehicle types, including electric and hybrid vehicles, light commercial vehicles, and heavy commercial vehicles. The market is witnessing significant growth due to the increasing adoption of connected cars, car sharing, and ride hailing services. Telecommunication infrastructure, software & services, and semiconductor chips are essential components that support the functionality of these systems. Intelligent speed adaptation, assisted driving, and autonomous vehicles are emerging trends in the market. The global deployment of GPS technology is expanding, with an increasing number of satellites being launched to enhance coverage and accuracy. Thus, such trends will shape the growth of the market during the forecast period.
Design complexity and technological challenges is the major challenge that affects the growth of the market. The market is witnessing significant advancements as consumers demand more sophisticated features, such as real-time traffic information, voice instructions, and seamless smartphone integration. Manufacturers must address these expectations through intricate design processes and engineering expertise. Technological innovations, including artificial intelligence (AI), machine learning, and augmented reality, add complexity to GPS navigation system development. Ensuring reliability, accuracy, and user-friendliness while integrating these advanced technologies poses a challenge. Moreover, the market's rapid pace of technological innovation necessitates frequent updates and upgrades to maintain competitiveness. Hardware components, such as GPS receivers and audio/video components, are essential for GPS navigation systems. OEM (Original Equipment Manufacturer) and aftermarket systems cater to different segments of the automobile sales market. Connected cars, car sharing, ride hailing services, and in-dash navigation systems are increasingly popular. Telecommunication infrastructure, fleet management, electric vehicles, and hybrid vehicles are other significant markets. Screen size, propulsion, software & services, and vehicle types (light commercial vehicles, heavy commercial vehicles) influence the market's growth. Semiconductor chips and GPS technology are integral to the system's functionality. Autonomous vehicles, assisted driving, and intelligent speed adaptation are future trends. Data sharing and connected car services are also crucial aspects of the market. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alps Alpine Co. Ltd. - The company offers car GPS navigation system that comes with a 9 inch touch screen, built-in Navigation for trucks and large motorhomes, DAB+, HDMI and Apple CarPlay and android auto combatibility.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The software and services segment is estimated to witness significant growth during the forecast period. The Car GPS Navigation System market encompasses both Hardware and Software components, including OEM (Original Equipment Manufacturer) and aftermarket solutions. Automobile sales continue to drive the demand for GPS receivers, which function as Audio/video components, providing Positioning and Real-time traffic information. Banks, Gas stations, Hospitals, Restaurants, and other essential services use GPS technology for vehicle tracking and fleet management.
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The software and services segment accounted for USD 7.66 billion in 2018. Voice and Visual instructions, Driver alerts, and factory-fitted or add-on accessories are essential features. Connected cars, car sharing, ride hailing services, and in-dash navigation systems leverage telecommunication infrastructure for data sharing. Semiconductor chips power the GPS technology in Electric vehicles and Hybrid vehicles. Screen size, propulsion type, and software & services are significant factors influencing consumer preferences. Light commercial and heavy commercial vehicles also benefit from GPS technology for intelligent speed adaptation, assisted driving, and autonomous vehicles.
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APAC is estimated to contribute 32% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
GPS navigation systems have revolutionized automobile travel by providing accurate location tracking, turn-by-turn directions, and real-time traffic updates. These advanced electronic devices use geographic positioning information from signals received from satellites to offer voice-guided directions and interactive maps. Voice recognition technology enables hands-free operation, enhancing safety while driving. Automobile safety features such as emergency assistance, speed limit alerts, and warning signals are integrated into modern GPS navigation systems. Real-time traffic updates help drivers avoid congestion and reach their destinations more efficiently. Internet connectivity and cloud services enable up-to-date maps and live traffic updates. Smart connected cars are integrating GPS navigation solutions with IoT technology and natural language processing for a more user-friendly experience. Passenger Cars and Commercial Cars are major markets for these systems. Smartphone-based navigation applications and apps are also popular alternatives, offering similar functionality. Overall, GPS navigation systems provide essential geographic positioning information, enhancing safety, convenience, and efficiency for modern drivers.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
GPS navigation systems have revolutionized the way we travel, providing accurate geographic positioning information and turn-by-turn directions for road networks. These electronic devices use signals from satellites to offer real-time traffic updates and voice-guided directions, enhancing navigation efficiency and road safety. Voice recognition technology and user-friendly interfaces make these systems even more convenient for drivers. GPS navigation systems offer various safety features such as emergency assistance, speed limit alerts, and warning signals. They also provide interactive maps, lane assistance, and live traffic updates, helping drivers avoid traffic congestion and reach their destinations faster. With the advent of smart connected cars and IoT, integrated navigation solutions are becoming increasingly popular. The market for GPS navigation systems is growing rapidly, driven by the increasing demand for accurate and up-to-date maps, real-time traffic information, and user-friendly interfaces. The integration of natural language processing and cloud services is also expected to boost the market's growth. Passenger cars and commercial cars are the major applications for GPS navigation systems, with the former segment expected to dominate the market due to the increasing popularity of smartphone-based navigation applications and smartphone apps. Overall, GPS navigation systems are an essential tool for modern transportation, offering convenience, safety, and efficiency on the road.
Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.03% |
Market growth 2024-2028 |
USD 9.74 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.88 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 32% |
Key countries |
US, Germany, China, Japan, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alps Alpine Co. Ltd., Apple Inc., Continental AG, DENSO Corp., Ford Motor Co., Garmin Ltd., JVCKENWOOD Corp., Mitsubishi Electric Corp., NNG Software Developing and Commercial Llc., Panasonic Holdings Corp., Pioneer Corp., Renault SAS, RM Acquisition LLC, Robert Bosch GmbH, Telenav Inc., and TomTom NV |
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 |
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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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