Car GPS Navigation System Market Expected to Huge Growth in Size, Share, Demand, Analysis and Forecast 2018 - 2023

Car GPS Navigation System Market was valued at $701 million in 2016, and is projected to reach at $1,237 million by 2023, growing at a CAGR of 8.1% from 2017 to 2023. Car GPS Navigation System Market receive signals from navigation satellites, which assist in vehicle tracking and positioning. These signals are received from multiple satellites thereby helping in precise positioning of the vehicle. The car GPS navigation system includes range of functionalities such as record, save music, and operate climate control functions (if equipped in car). The GPS navigation systems are largely used by transportation and logistics industry.
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The ability of navigation systems to provide real time traffic data thereby assisting large number of logistic and fleet operators fuel the market. In addition, increase in demands from dependent sectors further propels the market growth. Moreover, rise in car sales worldwide is projected to fuel the growth. However, costs versus functionalities given by these systems restrain the market. In addition, the presence of substitutes to aftermarket navigation systems and the cost versus functionality given by these systems restrain the market. The availability of advanced telecom infrastructure and penetration of wireless communication technology makes way for market growth opportunities.
The report includes the study of the car GPS navigation system market focusing on various growth prospects and restraints, based on the regional analysis. The study highlights Porter’s Five Forces analysis for the market that comprises the impact of suppliers, competitors, new entrants, substitutes, and buyers.
Key players profiled in the report include Pioneer Corporation, Mitsubishi Electric, Alpine Electronics, TomTom, Robert Bosch, Denso Corporation, Continental AG, JVCKENWOOD Corporation, Panasonic Corporation, and Sony Corporation.
Segment Overview
The global car GPS navigation system market is segmented on the basis of component type, car type, end user, and geography. Based on component type, it is bifurcated into hardware and software. The car type segment includes passenger and commercial. On the basis of end user, the market is divided into OEM and aftermarket. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Car Gps Navigation System Market Segmentation

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The graph below signifies the impacting factors of the car GPS navigation system market.
Key Impactng Factors

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Rise In Number of Car Sales Volume Worldwide
The developing economies are major influencers of car GPS navigation system market. According to OICA car production statistics 2016, the car sales in China has increased to 3,166,563 units in 2016 as compared to previous year. This in turn is anticipated to fuel the growth for car GPS navigation system market.
Ability of System to Provide Real Time Traffic Data
The ability of GPS navigation systems to provide real time data such as real time traffic updates saves individual’s time in road congestion. In addition, it aids in reduction of chances of accidents and fuel consumption.
Increasing Demands From The Dependent Sectors
The GPS navigation system is largely used by dependent sectors such as transportation. These systems assist the transportation and logistics industry by providing real-time traffic updates and thus aiding in cost saving and providing assistance in routing mechanism.
Key Benefits

• The study provides an in-depth analysis of the car GPS navigation system market, with current and future trends to elucidate the imminent investment pockets.
• Information regarding key drivers, restraints, and opportunities coupled with their impact analysis is provided.
• Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
• The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential...

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