The global automotive
navigation market is expected to witness a surge in demand owing to the growth
of automobile sales post the 2008 depression, increased demand from end
consumers, availability of low-cost equipment, technological developments and
initiatives by automobile manufacturers to offer on-board navigation systems.
Innovations in wireless network and mobile technology may pose a challenge to
the industry which provides cost-effective navigation services via smartphones.
Navigations systems make use
of GPS (global positioning satellites) to triangulate position and aid users in
path and route guidance. These systems may offer other relevant information
such as traffic density and climate information. Modern navigation systems come
as a part of infotainment systems already equipped with the automobile. Leading
car manufacturers such as Toyota and Ford collaborate with navigation service
& hardware providers to offer pre-fit systems to the users, creating demand
for these systems and services. The market growth may also be attributed to
factors such as low-cost of production and easy integration with the
automobiles.
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Navigations systems in
automobiles are integrated with video and audio systems to deliver information
to the users. Rapid development in user interface and responsiveness of these
systems is anticipated to fuel growth. Navigation service providers collaborate
with wireless network providers for data access, which works in favor of the
market. The advent of self-driven cars may act as a key factor that drives
demand over the forecast period.
The automotive navigation
market comprises of navigation hardware providers, software providers,
navigation maps and service providers such as traffic, parking and weather
forecast information providers. Some of the key players such as Harman, Bosch
and Denso have collaborated with automobile manufacturers such as Ford and
Toyota to boost demand. However, leading car brands like Audi and Mercedes-Benz
often employ proprietary hardware and software in their navigations systems.
Car manufacturers opting for
smartphone-based navigation system may pose a challenge to the industry.
Further, wireless network providers coupled with internet map providers such as
Google Maps and TomTom offer a cost-effective solution to automobile
manufacturers allowing them to save the cost of navigation hardware and its
installation into the vehicle. This acts as a challenge for the navigation
hardware and software providers. Navigation technology, still in its nascent
form often misdirects users, which acts as a drawback which may slow-down the
market growth. However, initiatives to improve the system output along with
advancements in device technology may provide impetus for industry growth over
the next seven years.
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