Starting as an automotive aftermarket equipment, automotive navigation has come a long way since its inception. The in-dash navigation system was developed in Japan in 1987, and then in 1990, the first ever GPS system for automotive navigational use was introduced by Mazda in Japan. However, it was Garmin of the U.S.A which first introduced GPS navigation into general use in 1991. The dynamic automotive industry continuously goes through varied changes and innovations are a norm in this industry. These innovations are being fuelled by the declining fuel prices, low industry growth rate, the emergence of electric and hybrid electric vehicles in the market, improvement in automotive credit availability, aging vehicle fleet, and the emergence of disruptive trends such as carpool and ride-hailing services.
With the increasing number of vehicles on a global scale, the traffic congestion has also increased proportionately. To save time and energy for the consumers, the automotive original equipment manufacturers (OEMs) have equipped their manufactured vehicles with advanced navigation systems. These in-car navigation systems give directions using satellite navigation technology and include other features like real-time traffic data, locating a point of interests, parking information, and off-line navigation capabilities. The shifting trend among the consumers for a better navigation system is helping the growth of the automotive navigation systems market.
The global automotive navigation systems market generated $20.9 billion in 2016 and is growing rapidly owing to the rising concerns towards the global problem of traffic congestion especially in urban areas. The adoption of this technology is increasing steadily as the cost of this system is still high and the telecommunication system is yet to develop infrastructures that can provide a hassle-free connection. These disadvantages haven’t deterred the automobile manufacturers from investing extensively in the development of autonomous driving technologies, and the market for market for embedded navigation systems is expected to grow significantly.
Many stakeholders are, across the value chain, are collaborating with each other which is expected to fuel the future growth of this market. The in-dash navigation system is provided by OEMs as well as aftermarket distribution channels. Currently, OEM segment account for the highest share of the market and this trend is expected to continue in the coming years. The market also offers different types of navigation devices, vis a vis in-dash navigation systems, portable navigation systems (PNDs) and smartphone-based navigation systems. Among these, the in-dash navigation system is expected to grow rapidly over the period of 2017 and 2021, owing to the increasing popularity of in-dash systems along with a reduction in price by the OEMs.
BIS Research has conducted an extensive research on the global automotive navigation systems market, and compiled the observations and insights in a report titled ‘Global Automotive Navigation Systems Market Report, Analysis and Forecast 2017-2021‘. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
For further queries, please write to us at [email protected] or call us at: +1 650 228 0182.