LONDON--(BUSINESS WIRE)--The global automotive navigation systems market is expected to grow at a CAGR of over 5% during the period 2018-2022, according to a new market research study by Technavio.
The report categorizes the global automotive navigation systems market by vehicle type (passenger cars and commercial vehicles) and by navigation system type (IVS and PND). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increased customer awareness about the benefits of automotive navigation systems
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. The increased awareness among customers due to marketing by vendors is also driving the sales in the global automotive navigation systems market.
According to a senior analyst at Technavio for automotive electronics research, “Major navigation OEMs are bringing in multiple strategies to attach their product along with new vehicles sales in terms of embedded fitment and accessories. Their strong aftermarket network and presence will further drive the growth of the global automotive navigation systems market.”
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Market trend: 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.
A budding area of competition between both automobile manufacturers and automotive infotainment/navigation system manufacturers is the software or OS used in the vehicle's infotainment systems. Manufacturers of automotive navigation systems are shifting toward the PC-like architectural concept. In this, the functionality of the system is dependent on the main CPU. As a result, the software or the OS used in systems acts as a product differentiator among the brands.
Market challenge: escalating consumer expectations
The competition between PNDs, IVS, and smartphone-based navigation systems has encouraged manufacturers to include more and more functions to offer a unique driving experience and improve safety. The integration of numerous applications, such as internet connectivity, ADAS, and telematics in a single navigation system is complicated and hinders the adoption of these actual systems in vehicles. Automobile manufacturers in Europe, such as GM and Mercedes-Benz, are working on making applications available through MirrorLink.
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Some of the major contributors in the global automotive navigation systems market:
- Garmin
- HERE
- NNG Software Developing and Commercial
- Pioneer Corporation
- TomTom International
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