The global Car GPS navigation system market generated $13.07 billion in 2020 and is expected to reach $35.73 billion in 2030, witnessing a CAGR of 11.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for vehicles with advanced safety & navigation features, rise in demand for reliable real-time traffic information, rapid development of connected cars, and surge in adoption of car sharing & ride hailing services drive the growth of the global car GPS navigation system market. However, lack of telecommunication infrastructure in emerging countries and rise in concerns associated with data protection & privacy restrain the market growth. On the other hand, surge in adoption of electric & hybrid vehicles and technological advancements create new opportunities in the coming years.
Car GPS Navigation System Market Segment Review
The report offers detailed segmentation of the global car GPS navigation system market based on component, vehicle type, screen size, propulsion, sales channel, and region.
Based on vehicle type, the passenger cars segment accounted for the highest share in 2020, contributing to more than four-fifths of the total share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 11.2% from 2021 to 2030. The report also discusses the segments including light commercial vehicles and heavy commercial vehicles.
Based on component, the software and services segment contributed to the largest share in 2020, accounting for around three-fifths of the total share of the car GPS navigation system market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 11.5% from 2021 to 2030. The report also analyzes the hardware segment.
Based on region, Asia-Pacific held the largest share in 2020, contributing to nearly two-fifths of the total market share, and is expected to continue its dominant share in terms of revenue by 2030. However, Europe is estimated to register the largest CAGR of 12.1% during the forecast period.
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Car GPS Navigation System Market Key Players
Leading players of the car GPS navigation system market analyzed in the research include Alpine Electronics, Inc., Garmin Ltd., Continental AG, Mitsubishi Electric Corporation, JVCKENWOOD Corporation, Pioneer Corporation, Panasonic Corporation, Sony Group Corporation, Robert Bosch GmbH, and TomTom International BV.
The report analyzes these key players in the distribution system market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others, to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the car GPS navigation system market.
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