The global personal navigation devices market is expected to grow at an 8.2% CAGR during the forecast period, with a revenue of $2,875 million in 2022 and a projected revenue of $6,340 million by 2032.
A personal navigation device, or PND, is a small portable device designed specifically to run route navigation applications. This is the most widely used product with embedded Global Navigation Satellite System (GNSS) technology. The device’s navigation is powered by computer software that has been pre-programmed.
This software provides the user with turn-by-turn directions to a destination. Most personal navigation devices on the market today include a voice output that can provide precise information without distracting the user.
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The devices that only supported navigation, initially, now support other features such as multimedia player, mobile hands-free system, external application support, games, travel utilities (measurement converter, currency converter, world time, calculator et cetera). Any user can use these personal navigation devices without any special training, qualifications or skills.
Personal Navigation Devices Market: Drivers and Challenges
One of the trends in the automobile industry that drives the personal navigation devices market is the integration of navigation supported security and safety features in automobiles. With the steady rise in the number of personal on-road vehicles, thefts and accidents have also increased.
Manufacturers are incorporating safety and security applications in navigation systems. Advanced Driver Assistance System (ADAS) is an example of a personal navigation system where the device has built-in features with additional intelligent sensors and units to keep track of road conditions and traffic, safety-related details regarding roads like lane changing assistance and speed breaker notifications.
However, escalating user expectations and increase in feature related complexity hinders the growth of the personal navigation devices market. Repeated updating is necessary for personal navigation devices without proper intelligent units to get proper directions to the destination.
Sometime, this could be a tedious task which makes it a challenge for the personal navigation devices market. Also, increase in competition from mobile phones and other handset-based navigation services will eventually restrict the growth of the global personal navigation devices market.
Personal Navigation Devices Market: Key Players
Some of the prominent vendors in the Personal Navigation Devices Market are TomTom International BV., Garmin Ltd., MiTAC International Corporation, Magellan GPS, Blaupunkt worldwide, Masternaut Limited, NAVIGON, AvMap Satellite Navigation, Inc., Becker Navigations and TeleNav
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Some Of The Recent Developments In The Personal Navigation Devices Market Are
- In 2015, the integration of SmartGPS navigation software was announced by Magellan GPS into Bosch SoftTec’smySPIN infotainment platform.
- In October 2018, Trimble Inc. acquired Veltec, a Brazil-based fleet management provider, to deliver fleet management solutions to transport companies.
- In May 2018, Hexagon AB launched PIM7500 GNSS receiver, which is integrated with AI technology.
- In July 2021, Thales Alenia Space, ASECNA, Geoflex, and NigComSat are working for the accelerated development of A-SBAS for the delivery of precise point positioning and risk warnings for various range of applications in Africa.
Personal Navigation Devices Market: Regional Overview
The largest market share of the global Personal Navigation Devices market was held by Europe regions followed by North America region. But, North America is estimated to catch up and get past Europe during the forecast period. The development of technology that links the smartphone to In-vehicle System (IVS) has contributed to the growth of personal navigation devices market in the North America region.
Extreme traffic in major cities in the Asia Pacific countries such as India and China will is estimated to increase the demand for intelligent personal navigation systems in the region by the forecast period.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Personal Navigation Devices Market: Segmentation
On the basis of vehicle type, the personal navigation device market is segmented into
By Type:
- Commercial Vehicle
- Entry-Level Passenger Vehicle
- Mid-Premium Passenger Vehicle
- Luxury Passenger Vehicle
By Application:
- Smartphones
- Tablets
- Automobiles
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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