Recent report titled published by research nester “Automotive Navigation Solution Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global automotive navigation solution market in terms of market segmentation by component, by sales channel, by connectivity, by vehicle type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global automotive navigation solution market is segmented into type vehicle type such as passenger cars, light commercial vehicles, heavy commercial vehicles. Among these segments, passenger cars segment is expected to occupy leading position in overall automotive navigation solution market during the forecast period.
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Factors such as increasing sales of passenger cars and rising spending on vehicle up gradation by consumers are driving the growth of the passenger cars segment. However, commercial segment is anticipated to grow at a highest pace in overall automotive navigation solution market. This can be attributed to the several government regulations and rising need to track rented or shipped commercial vehicles by their owners.
Global automotive navigation solution market is expected to flourish at a significant CAGR during the forecast period. Moreover, technological advancements in automotive navigation solution such as development of connected automotive navigation solution and enhanced connectivity options are predicted to foster the growth of global market during the forecast period.
North America dominated the overall automotive navigation solution market and is expected to continue its dominance over the forecast period. This can be attributed to spiked sales of luxury vehicles and strong automotive aftermarket in this region. High adoption rate of advanced technology amongst American population is driving the growth of North America automotive navigation solution market.
Robust Growth of Automotive Industry
Rising production of vehicles across the globe is fostering the growth of automotive navigation solution market. According to International Organization of Motor Vehicle Manufacturers, global motor vehicle production witnessed a growth of 4.5% in 2016 as compared to 2015. Further, positive growth trend of automotive production is anticipated to bolster the growth of the automotive navigation solution market.
Technological Advancements
Advances in technologies such as development of connected automotive navigation solution and automotive navigation AV solution are anticipated to drive the growth of the automotive navigation solution market. Moreover, increasing concern regarding vehicle density on road coupled with increasing adoption of advanced technology is accelerating the growth of the global automotive navigation solution market. Although, sluggish adoption rate of automotive navigation solution among economy car owners is likely to dampen the growth of automotive navigation solution market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global automotive navigation solution market which includes company profiling of Neusoft Corporation, MiTAC International Corporation , Intellias Ltd., HARMAN International, infoware GmbH, NNG Software Developing and Commercial Llc. , Telenav , TomTom International BV., Garmin Ltd., Pioneer India Electronics Pvt. Ltd., and Alpine Electronics, Inc..
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive navigation solution market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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