Car GPS Navigation System Market to Exhibit a Remarkable CAGR of 11.0% by 2030 | Continental AG, Garmin Ltd.

Car GPS Navigation System Market

Increase in demand for vehicles with advanced safety & navigation features, rapid development of connected cars.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 28, 2024 /EINPresswire.com/ -- The 𝐂𝐚𝐫 𝐆𝐏𝐒 𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐨𝐧 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 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. The global car GPS navigation system market was valued $13,074.0 million in 2020 and is projected to reach $35,731.9 million in 2030, registering a CAGR of 11.0%.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 275 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/3280

There has been increase in adoption of electric vehicles across the globe owing to enhanced environmental concerns and strict regulations associated with vehicular emissions. Manufacturers focus on providing enhanced navigation systems in electric vehicle to provide enhanced user experience. For instance, TomTom International introduced navigation system for electric vehicle and named it “EV routing and range,” which provides efficient routes to reach destination. 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.

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 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.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/car-GPS-navigation-system-market/purchase-options

The significant factors impacting the growth of the car GPS navigation system market comprises rise in demand for vehicles with advanced safety & navigation features, increase in demand for reliable real-time traffic information, rapid development of connected cars, and increase in adoption of car sharing & ride hailing services, especially in developing nations. Moreover, lack of telecommunication infrastructure in developing countries, and growth in concerns associated with data protection & privacy hinder the market growth. Conversely, increase in demand for fleet management, surge in adoption of electric & hybrid vehicles, and rise in technological advancements are expected to offer growth opportunities during the forecast period.

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.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐀𝐥𝐩𝐢𝐧𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬, 𝐈𝐧𝐜.
𝐂𝐨𝐧𝐭𝐢𝐧𝐞𝐧𝐭𝐚𝐥 𝐀𝐆
𝐆𝐚𝐫𝐦𝐢𝐧 𝐋𝐭𝐝.
𝐉𝐕𝐂𝐊𝐄𝐍𝐖𝐎𝐎𝐃 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
𝐌𝐢𝐭𝐬𝐮𝐛𝐢𝐬𝐡𝐢 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
𝐏𝐚𝐧𝐚𝐬𝐨𝐧𝐢𝐜 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
𝐏𝐢𝐨𝐧𝐞𝐞𝐫 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
𝐑𝐨𝐛𝐞𝐫𝐭 𝐁𝐨𝐬𝐜𝐡 𝐆𝐦𝐛𝐇
𝐒𝐨𝐧𝐲 𝐆𝐫𝐨𝐮𝐩 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
𝐓𝐨𝐦𝐓𝐨𝐦 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐁𝐕

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/3280

Depending on vehicle type, the car GPS navigation system market size is divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The demand for car GPS navigation system is expected to increase from light commercial vehicles segment during the forecast period. Implementation of GPS navigation system in commercial vehicle enables tracking the location of fleet, acquiring real time traffic updates, preventing vehicle robbery, as well as receiving alternate route to reach destination. Moreover, car sharing & ride hailing services utilize GPS navigation system to travel from one location to another, driving the market growth.

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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3280

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.

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David Correa
Allied Market Research
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