Global Automotive Navigation Systems Market 2018-2022
About Automotive Navigation Systems
Navigation systems offer advanced functionalities, such as a map view (rotating with the automobile), schematic pictograms, distance and functions for voice prompts for all automotive applications, such as passenger cars and commercial vehicles. Navigation systems can either be IVS or PND.
Technavio’s analysts forecast the global automotive navigation systems market to grow at a CAGR of 5.20% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive navigation systems market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Navigation Systems Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive navigation systems market: Garmin, HERE, NNG Software Developing and Commercial, Pioneer Corporation, and TomTom International.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased support for open source and standard platforms for application development in automotive infotainment. Traditionally, competition among automotive manufacturers was limited to towing capacity, acceleration, and horsepower of the vehicle. But, recently, there has been a shift in the focus of consumers and OEMs from what is under the hood to what is behind the vehicle's dashboard”
According to the report, one driver in the market is increased customer awareness about the benefits of automotive navigation systems in the overall ownership cost reduction. For any end-user, the main concern with vehicle management is the overall running cost of the vehicle. The navigation system vendors promise reduced running costs as a benefit of using their personal navigation systems in vehicles
Further, the report states that one challenge in the market is product life cycle mismatch of infotainment-based navigation systems with passenger's smartphones. Technological advances in vehicles often take years to get commercialized. Therefore, automobile manufacturers and automotive infotainment manufacturers are not able to match up with the pace of smartphone updates.
Garmin, HERE, NNG Software Developing and Commercial, Pioneer Corporation, and TomTom International.
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