The navigation system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Navigation System Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The navigation system market size has grown strongly in recent years. It will
grow from $33.63 billion in 2023 to $35.96 billion in 2024 at a compound annual
growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed
to development of modern electronic navigation systems, developing in-car
navigation technology for automobiles, google maps and navigation apps, smart
cities integration, v2x communication, intelligent transportation system (ITS).
The navigation system market size is expected to see strong growth in the next
few years. It will grow to $45.34 billion in 2028 at a compound annual growth
rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to
augmented reality (AR) navigation, autonomous vehicles and navigation, 5G
connectivity, multi-constellation GNSS integration, environmental navigation
considerations. Major trends in the forecast period include global navigation
satellite system GNSS autonomous navigation, GPS navigation systems,
intelligent traffic management, predictive analytics for traffic, robust indoor
navigation.
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Scope Of Navigation System Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Navigation System Market Overview
Market Drivers -
The rising production of autonomous vehicles is expected to propel the growth
of the navigation system market going forward. Autonomous vehicles specifically
refer to vehicles capable of self-driving without human intervention by
leveraging autonomous capabilities, depending on the level of automation
integrated into their systems. Navigation systems in autonomous vehicles
provide route planning and guidance without human intervention, while in
passenger vehicles, they assist drivers in navigating to desired destinations.
For instance, in December 2022, according to a report published by the
Insurance Institute for Highway Safety, a US-based non-profit organization,
there were projected to be 3.5 million autonomous vehicles or self-driving cars
on American roads by 2025. Additionally, 4.5 million autonomous vehicles are
expected to be on the road by 2030. Therefore, the rising production of
autonomous vehicles is driving the navigation system market.
Market Trends -
Major companies operating in the navigation system market are focused on
developing advanced technological solutions, such as automotive satellite
navigation chips, to strengthen their position in the market. Automotive
satellite-navigation chips, commonly known as GNSS (Global Navigation Satellite
System) chips, enable precise positioning and navigation in vehicles. For
instance, in November 2021, STMicroelectronics N.V., a Switzerland-based
technology company, unveiled the STA8135GA, a groundbreaking chip in its Teseo
V family, representing the inaugural automotive-qualified GNSS receiver to
feature a triple-band positioning measurement engine on-chip. This innovation,
coupled with standard multi-band position-velocity-time (PVT) and
dead-reckoning capabilities, empowers driver-assistance systems with
unparalleled accuracy in decision-making regarding the road ahead. The
triple-band functionality, traditionally reserved for precision-demanding
fields like surveying and mapping, marks a significant leap in automotive
navigation technology, ensuring millimeter accuracy without heavy reliance on
correction data. The STA8135GA satellite receiver, with its high precision and
single-chip integration, facilitates the development of dependable and
cost-effective navigation systems. This advancement empowers vehicles to
enhance safety measures and gain heightened context awareness in their
navigation capabilities.
The navigation system market covered in this report is segmented –
1) By Type: Satellite Navigation Systems, Surgical Navigation Systems, Inertial
Navigation Systems, Other Types
2) By Technology: Radio Frequency Identification Based (RFID), Cellular,
Network, Bluetooth, Remote Sensing Services, Real Time Kinetic, Other
Technologies
3) By Application: Healthcare, Aerospace, Automotive, Marine, Intelligent
Transport Systems, Agriculture and Farming, Other Applications
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Regional Insights -
North America was the largest region in the navigation system market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the navigation system market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the navigation system market are Mitsubishi
Electric Corporation, Robert Bosch GmbH, Raytheon Technologies, Lockheed Martin
Corporation, Panasonic Corporation, Denso Corporation, Qualcomm Technologies
Inc., Northrop Grumman Corporation, Honeywell International Inc., Aisin Aw Co.
Ltd., Safran Electronics & Defense Inc., Collins Aerospace Inc., Aptiv,
L3Harris Technologies, Harman International Industries, Garmin Ltd., Visteon
Corporation, Trimble Inc., Luxoft Holding Inc., Jvc Kenwood Holdings Inc.,
Pioneer Corporation, Here International B.V., Clarion, FURUNO ELECTRIC CO.
LTD., Tomtom NV, Nng Global Infotainment Technologies, NovAtel Inc., KVH
Industries Inc., Telenav Inc., Alpine Electronics
Table of Contents
1. Executive Summary
2. Navigation System Market Report Structure
3. Navigation System Market Trends And Strategies
4. Navigation System Market – Macro Economic Scenario
5. Navigation System Market Size And Growth
…..
27. Navigation System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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