Automotive Navigation System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Automotive Navigation System Industry Overview

The automotive navigation system market is fragmented and highly competitive due to various international and regional players operating in the ecosystem. Some of the major players include Panasonic Holdings Corporation, Robert Bosch GmbH, Harman International Industries, LG Electronics Inc., Denso Corporation, Aisin Corporation, Mitsubishi Electric Corporation, and Garmin Ltd. These companies are increasingly focusing on improving their navigation system functionalities through the integration of emerging technologies, such as AI (artificial intelligence) and AR (augmented reality), to cater to the growing demand for advanced navigation systems in vehicles worldwide.

• In December 2023, Genesys International announced its latest development in ADAS Maps at the ADAS Show 2023, which comprises solutions that enhance the safety and support for autonomous vehicles with highly detailed road information. The highlight of Genesys' showcase was their high fidelity 2D Standard Definition (SD) map for India, which covers 8.3 million km of roads and features over 40 million Points of Interest.

• In April 2022, Mapbox announced the launch of the next-generation multimedia system developed by Toyota Motor North America for select Toyota and Lexus vehicles to offer a driving experience exceeding customer expectations. The Mapbox Maps software development kit incorporates a map design that complements Toyota's next-generation multimedia system, making turn-by-turn navigation intuitive for drivers.

The market is anticipated to witness rapid enhancements in automotive navigation system technology owing to the integration of autonomous vehicles into the ecosystem. Major players are expected to actively strategize and form long-term partnerships with automakers to gain a competitive edge in the industry.