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.
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. 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 13.1 Billion |
| Market size forecast in 2028 | USD 25.3 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 10.5% from 2022 to 2028 |
| Number of Pages | 310 |
| Number of Tables | 502 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Sales Channel, Vehicle Type, Screen Size, Propulsion, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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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.
Free Valuable Insights: Global Car GPS Navigation System Market size to reach USD 25.3 Billion by 2028
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.
By Component
By Vehicle Type
By Screen Size
By Sales Channel
By Propulsion
By Geography
The Car GPS Navigation System Market size is projected to reach USD 25.3 billion by 2028.
Rising Ride Sharing Services Promoting Implementation of GPS As Safety Feature are driving the market in coming years, however, Lack of Supporting Infrastructure for Proper Navigation restraints the growth of the market.
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.
The OEM market acquired the maximum revenue share in the Global Car GPS Navigation System Market by Sales Channel in 2021, achieving a market value of $15.8 billion by 2028.
The Passenger Cars market is leading the Global Car GPS Navigation System Market by Vehicle Type in 2021, thereby, achieving a market value of $15.2 billion by 2028.
The Asia Pacific market dominated the Global Car GPS Navigation System Market by Region in 2021, thereby, achieving a market value of $9.3 billion by 2028.
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