The Europe Car GPS Navigation System Market would witness market growth of 9.9% CAGR during the forecast period (2022-2028).
The projected delays caused by traffic on roads, transit systems, and streets cost the world's economies billions of dollars per year in lost productivity. Industries like logistics and e-commerce are severely impacted by such ineffective navigation tracking. As a result, GPS-based systems have become increasingly dependent on navigation systems with developing technology for locating multiple addressees in traffic on both motorways and roadways and suggesting different routes based on the real-time traffic.
The employment of car GPS navigation systems is increasing as more people are looking for better safety features in their vehicles. Many manufacturers are incorporating varied features with their car navigation systems like the inclusion of 'top-ten' lists for a particular region. The feature to provide insightful reports of the vehicle for the owner to understand and the possibility of keeping track of vehicle maintenance is also contributing to the GPS expansion. During the forecast period, factors including rising fleet management need for increased usage of electric and hybrid cars, and technical advances are anticipated to accelerate market expansion as well.
The GPS navigators are primarily used by taxis to increase their safety, but they also offer a dispatching system that works effectively for the majority of taxi fleets. The extent to which Europeans support taxi facilities has been governing the car GPS navigation system market growth. The exceptional services have also made huge OEMs come up with technologically advanced navigation systems. Their incorporation is propelling the market growth.
The Germany market dominated the Europe Car GPS Navigation System Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,695.2 million by 2028. The UK market is obtained to grow at a CAGR of 8.9% during (2022 - 2028). Additionally, The France market would experience a CAGR of 10.7% during (2022 - 2028).
Based on Component, the market is segmented into Software & Services and Hardware. Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Screen Size, the market is segmented into 6 inches to 11 inches, Less than 6 inches, and Greater than 11 inches. Based on Sales Channel, the market is segmented into OEM and Aftermarket. Based on Propulsion, the market is segmented into Internal Combustion Engine Vehicles and Electric Vehicles. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Car GPS Navigation System Market will Hit $25.3 Billion by 2028, at a CAGR of 10.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, TomTom N.V., Sony Corporation, Continental AG, Panasonic Corporation, Mitsubishi Electric Corporation, Alps Alpine Co., Ltd., Garmin Ltd., JVCKENWOOD Corporation and Pioneer Corporation
By Component
By Vehicle Type
By Screen Size
By Sales Channel
By Propulsion
By Country
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