Car GPS Market Scope
Global Positioning System (GPS) is also called a radio-navigation system which is formed from the constellation of 24 satellites and ground stations. The Global Positioning System is mainly funded and controlled by the U.S Department of Defense (DOD). The system was designed for the operation of the military. But now, there are numbers of civil GPS users across the globe. The automotive sector is one of the dominating markets and an increasing number of car sales is boosting the growth of the market. Additionally, features such as real-time monitoring, low cost of the system, long life of the system and others are responsible for growing car GPS market. However, continuous monitoring of vehicle arises privacy concern among users and the presence of alternative of the product has been limiting the growth of the market.
The Vendors having a strong hold in the market are Pioneer Corporation, Mitsubishi Electric, Alpine Electronics, TomTom, Robert Bosch GmbH. Research Analyst at AMA estimates that Japanese Vendors will contribute to the maximum growth of Global Car GPS market throughout the predicted period.
Pioneer Corporation (Japan), Mitsubishi Electric (Japan), Alpine Electronics (Japan), TomTom (Netherlands), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), JVC Kenwood Holdings Inc. (Japan), Panasonic Corporation (Japan), Sony Corporation (Japan), Aisin Seiki (Japan), Kenwood Corporation (Japan) and GPS Insight (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Clarion Co., Ltd. (Japan), Garmin Ltd. (United States), HANGSHENG TECHNOLOGY GmbH (Germany) and Others.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Car GPS market by Type (Positioning System and Navigation System), by Application (Passenger car, Commercial vehicle, OEM market and Aftermarket) and Region with country level break-up.
On the basis of geography, the market of Car GPS has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In September 2018, ISRO (India Space Research Organization) has made new navigation for Indian cars. Also, Ramakrishna Electro Component had launched a vehicle tracking system based on ISRO navigation which is better than the U.S. based navigation system. Such type of activities can create a huge opportunity for the market.
"A number of other federal and state courts have ruled on the use of GPS-based vehicle surveillance by law enforcement, both before and after the 2012 Supreme Court decision. and Several U.S. states and non-U.S. jurisdictions have enacted laws establishing personal location privacy rights. However, the current U.S. statute at the federal level does not provide clear protection of geolocation."
Market Trend
- Features such as compact size, longer life and high efficiency is fueling the market
Market Drivers
- Increasing Number of Car Sales across Globe
- Real-Timing Monitoring Ability Driving the Market
- Rising Demand and of Growth of Commercial Vehicles
- Product Available in Affordable Prices
Opportunities
- High Penetration of Wireless Communication Technology and Availability of Advanced Infrastructure for Wireless Connectivity across Globe
- High Use of GPS System for Usage-Based Insurance (UBI)
Restraints
- Rising Privacy Concern among Users
Challenges
- Presence of Alternative such as Hardware Agnostic Tracking Solutions