Car GPS Navigation System Market

Global Car GPS Navigation System Market Size (2024 to 2032)

The global car gps navigation system market was valued at USD 21.58 billion in 2023 and is anticipated to reach USD 23.94 billion in 2024 from USD 55.20 billion by 2032, growing at a CAGR of 11.00% during the forecast period 2024 to 2032.

The Car GPS Navigation System Market plays a crucial role in vehicle tracking and positioning by receiving signals from navigation satellites. The car GPS navigation system comprises various functionalities like a record, saving music, and operating climate control functions (if equipped in the car). GPS navigation systems are primarily employed by the transportation and logistics industry.

The automotive industry has registered several dynamic changes in recent years due to various factors like declining fuel prices, low industry rate of growth, the emergence of electrical and hybrid electric vehicles, improvement in automotive credit availability, aging vehicle fleet, and the development of disruptive trends like car-sharing and ride-hailing services, globally. An increase in traffic congestion is also among the main concerns attributed to the rise in the number of vehicles

MARKET DRIVERS AND RESTRAINTS

The marketplace for navigation systems has been undergoing constant developments ever since the fixing of the Global Positioning System (GPS) satellites around the EEarth'sorbit. The market caught significant traction within the late 90s and the beginning of the 21st century because of the launch of portable navigation systems. The need for mobile navigation systems grew, especially within the aftermarket where varied economical options were available to the customers. Also, the increased production of vehicles, along with the rise in taxi services in developing economies like India has boosted the growth in the global car GPS navigation system market.

Costs versus functionalities given by these systems restrain the worldwide market. Additionally, the presence of substitutes to aftermarket navigation systems and the concerns related to security breaches are the significant elements hampering the expansion of this business.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Car GPS Navigation System Market Analysis By Component

Most of the PNDs sold in the previous year's automotive navigation systems market had integrated cellular connectivity. Europe's Automotive navigation systems market is one of the leading markets in PND However, the North American market is gaining traction, and therefore the shipments have increased within the region. In automotive navigation systems markets like Europe and North America where the penetration rates are already high, PND witnesses intense competition from handset-based navigation services and the availability of car navigation systems at affordable costs. However, new services and features being developed in automotive navigation systems will result in a more critical share, as increasing sales of PND come from replacement devices for existing users.

Global Car GPS Navigation System Market Analysis By Car Type

The passenger car type segment dominated the global car GPS navigation system market in 2018, with around three-fourths of the overall revenue share. This is attributed to the rise in vehicle sales across the world.

Global Car GPS Navigation System Market Analysis By End-User

At present, the OEM channel accounts for the bulk of the market share, and therefore the trend is predicted to stay the same during the foreseen period. The rise in the number of vehicle sales and the ability of systems to provide real-time traffic data are anticipated to fuel the growth of this market.

REGIONAL ANALYSIS

North America's car GPS navigation system market is predicted to witness prominent growth over the forecast period, thanks to the growing coach market in the US and Canada. The presence of the highly developed telecommunication infrastructure, greater acceptance rate of emerging technologies, and high per-capita income have contributed to the market dominance within the European and North American regions.

Further, the increasing commercialization of those systems in other areas, alongside the increased smartphone penetration rate and growing income, is predicted to play a vital role in the growth of the automotive navigation systems market.

Asia-Pacific car GPS navigation system market accounted for an essential market share in 2018 in terms of revenue and is predicted to register the very best CAGR over the forecast period due to the presence of an outsized number of vehicle manufacturers in the area. In addition, the rise in technological advancements and improving demand for commercial voyages are supposed to create a lucrative opportunity for the regional market in the future.

KEY PLAYERS IN THE GLOBAL CAR GPS NAVIGATION SYSTEM MARKET

Alpine Electronics, Pioneer, Continental AG, TomTom, Garmin, Denso Corporation, Apple, BMW, Sony Corporation, Panasonic Corporation, Ford, Fujitsu Ten, Kenwood, Mitsubishi Electronics, Bosch technology, JVCKENWOOD Corporation. These are the market players that dominate the global car GPS navigation system market.

RECENT HAPPENINGS IN THE GLOBAL CAR GPS NAVIGATION SYSTEM MARKET

• Indian Space Research Organization (ISRO) has developed a 'Made-In-India Navigation' for Indian cars, which is considered a better navigation system than the GPS services in the USA.
• Auto major Tata Motors has announced in New Delhi its partnership with the location technology provider, what3words. Tata Motors is going to be the primary manufacturer in India to bring a what3words addressing system in its cars, the corporate claimed in a statement.
• Bosch has developed a replacement sensor technology that helps in providing data for correct navigation in situations where no GPS signal is out there like tunnels, deep urban canyons, and off-road terrain.

DETAILED SEGMENTATION OF THE GLOBAL CAR GPS NAVIGATION SYSTEM INCLUDED IN THIS REPORT

This research report on the global car GPS navigation system market is segmented and sub-segmented into the following categories.

By Component

• Hardware
• Software
• Personal navigation device (PND)

By Car Type

• Passenger car
• Commercial car

By End-User

• OEM
• Aftermarket

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa