The Latin America, Middle East and Africa Car GPS Navigation System Market would witness market growth of 13.8% CAGR during the forecast period (2022-2028).
The automotive industry is in a stage where a variety of electronic devices are being placed in cars, such as lane departure warning systems, adaptive cruise control, and navigation systems. The electrification of vehicles has advanced because of the flexibility and adaptability provided by automotive embedded systems. One of the embedded devices given by car OEMs in the majority of their vehicle models is the navigation system. The device also contains a way to receive GPS satellite signals and a backup mechanism in case, these signals are blocked by the landscape around it.
To offer information on the vehicle's location, destination, travel routes, and times, the navigation system coordinates with these various components. Some systems can also identify nearby landmarks or locate the car in the event of theft. The global positioning system (GPS) is used by the in-dash navigation system to deliver precise location and directions. The display unit, antenna module, control module, and wiring harness are the car navigation system's main components.
The fact that GPS connectivity varies so greatly across Latin America poses one of the largest obstacles to the development of a visibility solution. Consider Brazil as an example, where risk management organizations charge exorbitant premiums for cargoes that are transported without GPS equipment onboard. These agreements are frequent enough to effectively assure that vehicles will be outfitted with cutting-edge GPS technology, making it far simpler to track in Brazil than in other nations in Latin America.
The Brazil market dominated the LAMEA 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 $506.6 million by 2028. The Argentina market would witness a CAGR of 14.4% during (2022 - 2028). Additionally, The UAE market is experiencing a CAGR of 13.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Car GPS Navigation System Market is Predict to reach $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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