Automotive Navigation Solutions Market: Introduction
- Automotive navigation solutions are systems that are installed in an automobile that provide live location of the automobile via global positioning system (GPS) technology.
- The automotive navigation solution can be defined as an advisor of the vehicle from a starting point of a journey to the end point. It provides an optimal route with the help of satellite-based radio navigation systems.
- Automotive navigation solutions use embedded navigation systems and offer various advanced features such as live traffic reports, voice guidance, over-the-air updates, and POI (point of interest) search, which optimizes the driving experience.
- Automotive navigation solutions provide driving assistance, which becomes more advanced with every new solution that is developed. Automotive navigation solutions can show safe spots for resting and drivers can make stops more often.
- The adoption of automotive navigation solutions is expected to increase among end-users, as it provides live traffic monitoring, and a major goal of automotive navigation solutions is to enhance the management and safety of road traffic.
Automotive Navigation Solutions Market: Dynamics
Automotive Navigation Solutions Market: Key Drivers
- Automotive navigation solution offer an alternative route to the driver, based on his preference for the cheapest, fastest, or the most convenient route. It also helps the driver to avoid tolls, ferries, borders, etc.
- Automotive navigation solutions provide direction, which includes visual data on screen along with voice instructions so that the driver can focus on driving. The voice system alerts about the street name, and direction of turn. It also alerts the driver about toll roads and traffic congestion ahead.
- The automotive navigation system can also be utilized offline, especially when the driver travels to a remote area. The only disadvantage in offline navigation is it does not show live traffic reports on screen; however, the GPS solution helps the driver reach his desired destination.
- The automotive navigation system provides information about on road conditions and the estimated time that would be required to reach the destination
Impact of COVID-19 on Global Automotive Navigation Solutions Market
- Increasing cases of COVID-19 across the globe have led to an economic slowdown. Developed countries are strongly affected by the pandemic. COVID-19 has had a negative impact on automotive navigation solutions market. Some companies have withheld all investments in advanced business solutions and tools due to the low return on investment.
Europe to Hold Major Share of Global Automotive Navigation Solutions Market
- In terms of region, the global automotive navigation solutions market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Europe dominated the global automotive navigation solutions market in 2020. Governments of several countries across Europe are planning to ensure that all cars be connected with GPS systems. Moreover, early adoption of advanced technologies and digital platform solutions to enhance productivity is likely to further propel the automobile navigation solutions market in the region.
Key Players Operating in the Global Automotive Navigation Solutions Market
- DENSO CORPORATION
DENSO CORPORATION was incorporated in 1949 and is headquartered in Aichi, Japan. The company engages in the manufacture of automotive systems and components as well as home appliances and industrial products. It also provides diesel, gasoline, electric vehicle, hybrid, and motor generators, power control units, vehicle dynamic control, and cockpit information. The company offers its products and services across the globe.
- Alpine Electronics, Inc.
Alpine Electronics was incorporated in 1967 and is headquartered in Tokyo, Japan. The company specializes in the manufacture of automobile electrical equipment. It also manufactures car navigation systems, car audio equipment, and information and communications equipment. The company offers its products and services worldwide.
Other key players operating in the global automotive navigation solutions market include Harman International Industries, Inc., Clarion, Continental Reifen Deutschland GmbH, Aisin AW Co. Ltd., TomTom International BV, JVC Kenwood Corporation, Mitsubishi Electric Corporation, and Panasonic Corporation.
Automotive Navigation Solutions Market: Research Scope
Automotive Navigation Solutions Market, by Sales Channel TYPE
Automotive Navigation Solutions Market, by Vehicle Type
- Passenger Type
- Commercial Vehicles
Automotive Navigation Solutions Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.