A car navigation system refers to part of the automobile control that is primarily used to find directions while driving an automobile. This system uses a satellite navigation device for tracing the position data which is further correlated to a position on a road. GPS-based navigation generally uses radio signals from special satellites that send their position and the time of transmission from a particular place. The GPS receiver robustly catches the signal and calculates the estimated time required to reach the desired destination.
According to the report, “United States Car Navigation Market Research Report Forecast 2017 to 2022”, the United States have prolonged to be one of the largest automotive markets in the world and is home to many global vehicles and auto parts manufacturers. Overall, the country accounts for the world’s second largest market for vehicle sales after China. The major brand players in the US market include namely- Bosch, Denso, Pioneer, Alpine, Aisin, Continental, Kenwood, Sony, and Clarion.
The important benefits of navigation and related systems, like increased driver efficiency, ameliorated routing and scheduling, and lessened operating costs, have been observed to be the major reasons resulting in the growth and development of the market. Additionally, continuous innovation in wireless communication services and technology has further paved the way for the growth in sales of related automotive infotainment products and services. The leading companies involved in manufacturing of Car Navigation System globally are namely- Garmin Ltd, Magellan Navigation Inc, TomTom Inc, Mio Technology Limited, and Lowrance Electronics Inc.
The global regulatory mandates have played a significant role in speeding up the supply of connected cars for safety and security purposes and the installation of basic Telematics is all set to complement the navigation systems in all new cars in US in the recent future.
Future generations are not only expected to reap the advantages of navigation system but they will also be relying more on cloud-based backend systems for content, information and services in the coming years with the launch of technological innovations. Thus, turning of a car into a huge data repository would definitely open up new opportunities of business for the connected service industries like insurance and content providers and benefit them as well.
The consumer demands are expected to increase for wireless connectivity and mobile internet with the high level of perforation of smart phones and tablets and as a result it will also lead to development of this market in US with ever growing demands by the customers who are foreseen to become more aware of the smart internet usage for their ultimate convenience. This is also going to drive the supply-side players in the automotive industry to well adapt to the evolving digital lifestyle in the future years. Cumulatively, US navigation market would land up earning massive revenues through rising demands by the expanding customer base with the passage of time.
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Ankur Gupta, Head Marketing & Communications