The advancements in navigation technology are estimated to steer the Automotive Navigation System Market 2020. The telematics and infotainment reports are made by Market Research Future, which includes market options for progress. An 8.85% CAGR is predicted to direct the global market expansion in the coming period.
The rapidly altering economies and lifestyle in developing nations are predicted to shape the Automotive Navigation System Market Size. Moreover, the breakthroughs in autonomous vehicles infrastructure are estimated to promote the growth of the automotive navigation system market size in the impending period. The intensification in fleet management is estimated to further the progress of the automotive navigation system market.
The segmental insight into the automotive navigation system market has been conducted based on propulsion, vehicle type, sales channel, device type, and region. Based on the sales channels, the automotive navigation system market has been divided into OEM and aftermarket. Based on the device type, the automotive navigation system market has been segmented into portable, in-dash, and mobile navigation system. Based on the vehicle type, the automotive navigation system market has been bifurcated into passenger car and commercial vehicles. Based on the propulsion, the automotive navigation system market has been split into electric vehicle and ICE. On the basis of regions, the automotive navigation system market is segmented into Asia Pacific, Europe, North America, and other crucial regional markets.
Detailed Regional Analysis
The regional review of the Automotive Navigation System Market has been conducted on the basis of Asia Pacific, Europe, North America, and other crucial regional markets. Among these regions studied, the automotive navigation system market in the Asia Pacific had the principal market share in 2018 in terms of income and is estimated to record the maximum CAGR throughout the forecast period. The existence of a huge number of producers in the regions is anticipated to guide the Car Navigation Systems Market. Furthermore, the speedy technological developments and intensifying demand for a viable voyage, are projected to generate lucrative opportunities for the automotive navigation system market. The region of North America is projected to observe momentous progress over the forecast period, because of the increasing passenger car market in the U.S. and Canada.
The support from government bodies is estimated to promote further the long term expansion of the market in the upcoming period. The consumer trends that are of special concern to demand are predicted to take time to stabilize in the aftermath of the current global pandemic. The investments related to marketing and R & D are foreseen to be staggered seeing the current economic climate. However, the market is predicted to be hindered to an extent by the restrictions in international trade due to the pandemic. The global market is estimated to be piloted by the forces of supply and demand that have taken over control. The contenders functioning in the market are predicted to take necessary steps to safeguard their commercial interests in the period ahead. The economic deceleration is projected to carry the continuation of the effects seen these days commonly. The transformation in the supply chain has to be strongly encouraged, so as to see positive effects with regards to market progress.
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The outstanding companies in the automotive navigation system are HERE Technologies (U.S.), JVC Kenwood Corporation (Japan), AISIN SEIKI Co., Ltd (Japan), Telenav, Inc. (U.S.), Clarion Corporation (U.S.), Continental AG (Germany), Delphi Technologies (U.K.), Denso Corporation (Japan), Garmin Ltd (U.S.), Harman International Industries, Inc. (U.S.), Pioneer Corporation (U.S.), Alpine Electronics, Inc., (Japan), TomTom N.V. (U.S.), NNG Software Developing and Commercial Llc. (Hungary), and Robert Bosch GmbH (Germany).
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