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The Global Car GPS Navigation System Market size is expected to reach $25.3 billion by 2028, rising at a market growth of 10.5% CAGR during the forecast period

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The Car GPS Navigation system consists of a satellite link to the Global Positioning System (GPS) receiver coupled with an audio/video component to receive satellite signals and aid in tracking and positioning vehicles.

New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Car GPS Navigation System Market Size, Share & Industry Trends Analysis Report By Component, By Vehicle Type, By Screen Size, By Sales Channel, By Propulsion, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321900/?utm_source=GNW
GPS is used by the navigation system to determine the vehicle’s present location. It is a computer mapping tool created specifically to assist drivers in finding their destination.

Nowadays, the navigation system gadgets come as standard with the car and some others can be installed after being bought separately. Both varieties of car navigation systems are made to attach inside or on top of the dashboard for convenience. Most combine with a computerized road map to show the vehicle’s location in real-time.

In addition, car GPS navigation systems offer the best route based on real-time traffic information, as well as extra locations of interest including banks, gas stations, hospitals, and restaurants. For increased awareness, while driving, these systems are designed to provide voice or visual instructions as well as driver alarms. A road map database is often included with a car GPS navigation system; however, some systems enable map updates by linking the car’s computer with the manufacturer’s website.

COVID-19 Impact Analysis

The COVID-19 crisis led to market uncertainty for car GPS navigation systems. A significant slowdown in the supply chain, a decline in corporate confidence, and a rise in consumer concern were propagated by the pandemic. Governments in several areas issued total lockdown and temporary industry closures, which had a negative impact on the entire manufacturing and sales of car GPS navigation systems.

Market Growth Factor

Rising Ride Sharing Services Promoting Implementation of GPS As Safety Feature

Due to the affordability and simplicity, ride-hailing and car sharing are becoming more popular. The demand for car-sharing and ride-hailing services is driven by the rise in environmental concerns related to vehicle emissions, decreased prices, and increased savings, which in turn drives the demand for automobile GPS navigation systems. In order to meet the growing need for real-time vehicle sharing services and manage the shift in trends toward automobile ownership, the implementation of GPS navigation systems has become essential. This is also because; the GPS systems integrate real-time data with the vehicle’s current statistics. They become highly important in case of accidents. Many taxi companies have made GPS systems mandatory in their vehicles.

Advancements in GPS Navigation System Application

Navigational systems offer the best routes between two points. External technologies like the Global Positioning System (GPS) and satellite-based radio navigation systems essentially support it. High precision, usability, reliability, and self-calibration are just a few of the benefits of GPS. However, GPS can only be used outside. In several fields, it is common practice to combine data from numerous sources to enhance final outcomes. To enable visualization and implementation characteristics of a specific area, GIS and GPS have been integrated.

Market Restraining Factor

Lack of Supporting Infrastructure for Proper Navigation

The supporting infrastructure, such as connectivity, roads, and other infrastructure, is extremely important to the car GPS navigation system market. The industry for in-dash navigation systems may significantly impact by the low cost of alternatives like mobile phones and personal navigation systems. As the navigation system is connected to the internet, hackers may break into the system, which could result in disastrous circumstances, especially in the case of connected automobiles. This raises concerns about the cyber security of vehicles.

Component Outlook

Based on component, the car GPS navigation system market is bifurcated into hardware and software & services. The software & services segment dominated the car GPS navigation system market in 2021, with the highest revenue share. Using smartphones, tablets, and other location-aware devices, GPS tracking software enables users to monitor the whereabouts of moving personnel, objects, and vehicles. Users may view a map of all the vehicles using the software, which connects to GPS-based tracking devices and records location changes in real-time. Additionally, it extracts data from other sources, including software programs and local servers.

Vehicle Type Outlook

On the basis of vehicle type, the car GPS navigation system market is segmented into passenger cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV). The light commercial vehicle segment acquired a substantial revenue share in the car GPS navigation system market in 2021. Since light commercial vehicles are typically used to move people and things (goods) over short distances, GPS tracking is one of the most important tasks for these fleets. Location and mileage are the important criteria that are gathered since they reveal whether a vehicle is utilized for business or personal usage.

Screen Size Outlook

Based on screen size, the car GPS Navigation System Market is categorized into less than 6 inches, 6 inches to 11 inches, and greater than 11 inches. The 6 to 11 inches segment dominated the car GPS navigation system market with the maximum revenue share in 2021. In bigger cabs, a big-screen 6-inch or 7-inch GPS is simpler to see. Large-screen, trucker- and RV-specific variants are available from some GPS manufacturers, such as the 7-inch screen Garmin Dezl. The Dezl has a large screen, a speaker, and a number of routing features tailored specifically for larger travels.

Sales Channel Outlook

Based on distribution channel, the car GPS Navigation System Market is classified into original equipment manufacturers and aftermarket. The aftermarket segment acquired a significant revenue share in the car GPS navigation system market in 2021. These are aimed at tech enthusiasts and audiophiles who need more features without sacrificing the sleek design of the factory unit. The aftermarket navigation systems contain entertainment options like DVD playback, Apple CarPlay, Android Auto, and Pandora streaming that are not found on most factory systems. The aftermarket navigation system screens are a big upgrade over the sound systems in earlier cars that have less sophisticated stereos.

Propulsion Outlook

On the basis of propulsion, the car GPS Navigation System Market is divided into internal combustion engine vehicles and electric vehicles. The internal combustion engine (ICE) vehicles garnered the highest revenue share in the car GPS navigation system market in 2021. The vast majority of land and water vehicles, including cars, motorcycles, ships, and to a lesser extent, trains, are powered by reciprocating piston engines. Some cars, planes, and motorbikes employ rotary engines of the Wankel design. These are referred to as internal combustion engines collectively (ICEV). As a huge percentage of vehicles fall in this category, the segment is accompanied by growth.

Regional Outlook

On the basis of region, the car GPS Navigation System Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region garnered a substantial revenue share in the car GPS navigation system market in 2021. The rise in the taxi and rental car companies has exercised positive impacts on the segment. These efforts are augmented by the overall sustainable views of the people and government of the region. An indirect effect of tourism industry is also evident here. Because of its beautiful attractions, this region sees a huge number of travelers, which has resulted in increase in taxi facilities.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Sony Corporation is the forerunner in the Car GPS Navigation System Market. Companies such as Mitsubishi Electric Corporation, Panasonic Corporation and Continental AG are some of the key innovators in Car GPS Navigation System Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, TomTom N.V., Sony Corporation, Continental AG, Panasonic Corporation, Mitsubishi Electric Corporation, Alps Alpine Co., Ltd., Garmin Ltd., JVCKENWOOD Corporation and Pioneer Corporation

Recent Strategies deployed in Car GPS Navigation System Market

Partnerships, Collaborations and Agreements:

Dec-2021: TomTom collaborated with CARIAD, Volkswagen’s automotive software and technology company. This collaboration focused on co-developing a best-in-class navigation product for the Volkswagen Group. The innovative product combined TomTom’s expertise in hybrid navigation and industry-leading traffic services, with CARIAD’s competencies in premium user experience and vehicle integration.

Dec-2021: Bosch came into partnership with NextNav, a leader in next-generation GPS. The partnership focused on enabling more precise vertical location in barometric pressure sensors. The small and low-power barometric pressure sensors would enable capabilities across use-cases including delivering altitude data across consumer technology devices such as drones, wearables, and navigation devices, and powering functionality in industrial applications.

Jun-2021: Pioneer Corporation partnered with Cerence, an American multinational software company. From this partnership, both companies aimed at developing scalable, secure, AI-powered products and services for the mobility world. The duo would also develop an integrated hardware and software product based upon Pioneer’s industry-leading technological capabilities and solution services.

Nov-2020: Panasonic Automotive Systems Company of America collaborated with Phiar, developers of edge spatial-AI technology and augmented reality navigation platform. Through this collaboration, the companies aimed at expanding driver safety and navigation support in their automotive solutions. Phair’s technology would complement Panasonic’s key technologies to deliver a superior solution with object and pedestrian detection, scene understanding, and AI-driven AR Navigation.

Product Launches and Product Expansions:

Jun-2022: Sony Electronics expanded its car AV receivers line by introducing the XAV-AX6000 and the XAV-AX4000. These AV receivers include new key features such as iDatalink Maestro compatibility, sound customization, and clean interface design. The new introductions would allow for better focus on the road while making drive-time more enjoyable.

Feb-2022: TomTom unveiled WEBFLEET Work App and TomTom GO Fleet App with Webfleet Solutions, a Bridgestone company and one of the world’s leading telematics solutions providers. TomTom GO Fleet application is seamlessly integrated, allowing drivers to always have the most up-to-date maps with traffic and navigation at their fingertips in a single location. In addition, WEBFLEET Work App empowers professional drivers to get their jobs done easily and efficiently with nothing more than their Android mobile devices.

Nov-2021: Alps Alpine launched UMSZ6 Series GNSS1 Module together with Furuno Electric, a Japanese electronics company. This product is a GNSS1 Module with high-accuracy positioning to within 50 centimeters without correction data, a world-first for automotive applications. The module performs well even on general roads and reliably enables vehicle positioning down to the lane level, as is required of various V2X2 applications, thereby contributing to greater sophistication of autonomous driving functions.

Aug-2021: Alps Alpine expanded its product range by updating ALPINE SmartX. The navigation app provides multilingual support for four languages – Japanese, English, Chinese and Korean. On launching the app, users would see a screen asking them to select a language. The selected language would be used for app screens and audio guidance. Simple settings allow users quick and smooth access to the navigation features.

Jan-2021: Alps Alpine unveiled ViewPose with the assistance of Chipmaker Qualcomm. ViewPose is a more accurate positioning technology that helps address the drawbacks of conventional GPS, especially in urban areas with spotty signals. It uses Qualcomm’s Snapdragon Automotive 5G platform, which supports Multi Frequency Global Navigation Satellite System (MF-GNSS), combined with the 3rd Generation Qualcomm Snapdragon Automotive Cockpit Platform for the processing and stitching of multiple camera images to determine a vehicle’s precise location.

Sep-2020: Alps Alpine introduced ALPINE SmartX, a navigation app for smartphones, tablets, and other mobile devices. The app has an upper hand with the inclusion of a parking lot search and vacancy information feature designed for use in self-driving mode, and display of one-way road indications on the 100-meter scale view, as well as countdown guidance leading up to a turn based on the number of traffic lights rather than the distance.

Acquisitions and Mergers:

Mar-2022: Bosch took over Atlatec, a company that creates high-resolution 3D maps for Level 3 and 4 autonomous driving. This acquisition expanded Bosch’s expertise in the field of high-resolution digital maps and made it even more diversified. Consequently, this made Bosch the only company that offers its customers all the necessary building blocks of automated driving from actuators and sensors to software and maps, from a single source.

Geographical Expansions:

Nov-2021: TomTom announced the expansion of geographical footprints by opening a new office space at ShantiOne, Nagar Road, next to Aga Khan Palace in Pune, Maharashtra. This new office is spread over 100,000 square feet and includes state-of-the-art facilities, which can accommodate up to 1000 employees.

Scope of the Study

Market Segments covered in the Report:

By Component

• Software & Services

• Hardware

By Vehicle Type

• Passenger Cars

• Light Commercial Vehicles

• Heavy Commercial Vehicles

By Screen Size

• 6 inches to 11 inches

• Less than 6 inches

• Greater than 11 inches

By Sales Channel

• OEM

• Aftermarket

By Propulsion

• Internal Combustion Engine Vehicles

• Electric Vehicles

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Robert Bosch GmbH

• TomTom N.V.

• Sony Corporation

• Continental AG

• Panasonic Corporation

• Mitsubishi Electric Corporation

• Alps Alpine Co., Ltd.

• Garmin Ltd.

• JVCKENWOOD Corporation

• Pioneer Corporation

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• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06321900/?utm_source=GNW

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