The Asia Pacific Car GPS Navigation System Market would witness market growth of 10.9% CAGR during the forecast period (2022-2028).
The implementation of navigation systems has helped traffic and road engineers. Over time, the collected traffic data for a region has made it possible to come up with the most efficient re-routes and pauses in monitoring traffic. The success of traffic management depends on the real-time processing of data from various sources and the ability to make quick judgments. Data from data observation sites collected at regular intervals of time are used to create a traffic data collection system that evaluates traffic flow.
Another impactful usage of GPS navigation system is observed in logistics and shipping. In logistics, fleet management is possible because of GPS as it aids in tracking the position of a fleet of vehicles, determining the best routes, cutting down on idle time, keeping an eye on driving patterns and driver behavior, and assuring vehicle safety. Fuel usage monitoring, greater driver and vehicle safety, performance evaluation of the driver and the vehicle, and improved customer service are all benefits of fleet management services.
The need for navigation system sales is increasing in the Asia Pacific Region as a result of customers' shifting lifestyles and cars' rising purchasing power. Additionally, supply chains like those of Amazon, Flipkart, and Zomato rely even more heavily on these applications due to the increased demand for accuracy. The navigation-based technology used by car-sharing services like Ola, Uber, and Grab also offers a real-time, reliable delivery system.
The China market dominated the Asia Pacific Car GPS Navigation System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,671.8 million by 2028. The Japan market experiencing a CAGR of 10.2% during (2022 - 2028). Additionally, The India market is anticipated to grow a CAGR of 11.6% during (2022 - 2028).
Based on Component, the market is segmented into Software & Services and Hardware. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Screen Size, the market is segmented into 6 inches to 11 inches, Less than 6 inches, and Greater than 11 inches. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on Propulsion, the market is segmented into Internal Combustion Engine Vehicles and Electric Vehicles. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Car GPS Navigation System Market is Projected to reach USD 25.3 Billion by 2028, at a CAGR of 10.5%
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
By Component
By Vehicle Type
By Screen Size
By Sales Channel
By Propulsion
By Country
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