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Allied Market Research recently published a report, titled, ASEAN Car GPS Navigation System Market by Component Type (Hardware and Software), Vehicle Type (Passenger and Commercial), and End User (OEMs and Aftermarket): Opportunity Analysis and Industry Forecast, 2018-2025. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the ASEAN car GPS navigation system market generated $12.93 billion in 2017 and is projected to reach $29.59 billion by 2025, registering a CAGR of 11.1% from 2018 to 2025.

Rise in number of vehicle sales, the integration of smartphones with in-vehicle systems (IVS) and increase in demand for traffic control are the factors that drive the growth of the market. However, the presence of substitutes to aftermarket navigation systems restrain the growth of the market. Conversely, high penetration of wireless communication technology and availability of advanced telecom infrastructure are expected to create new opportunities for the market growth.

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The hardware segment to be lucrative through 2025

Among types, the hardware segment accounted for 59.8% of the overall market share in 2017 and would retain its dominance through 2025. The same would grow at the fastest CAGR of 12.1% during the forecast period. This is due to increase in number of car sales in Asia-Pacific region as these components come with navigation system provided by the OEM or aftermarket. Furthermore, the segment is also expected to grow at the highest CAGR owing to continuous rise in demand for new digital technologies for in car connectivity.

Passenger segment to be dominant through 2025

Among vehicle types, the passenger segment was the largest in 2017, capturing 69.7% of the market share and would maintain its dominance through 2025. This is due to increase in number of passenger car sales in the South Asian countries. However, the commercial segment would grow at the fastest CAGR of 13.8% from 2018 to 2025. This is because of increased production of commercial cars in the South Asian countries. Moreover, addition of enhanced features such as smart parking assistance and traffic updates is expected to fuel the demand for commercial vehicles.

Indonesia to be dominant, Thailand to exhibit the fastest growth through 2025

Among countries, Indonesia captured more than one-third of the market share in 2017 and is likely to dominate the market through 2025. This is due to the increased need to improve the accuracy of map and overcome the traffic congestion in major cities of Indonesia such as Jakarta, Java, and others. However, Thailand is expected to register the fastest CAGR of 13.3% from 2018 to 2025, owing to growth in industrialization and increase in need to efficiently deliver goods from one point to another.

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Key players of the industry

Leading market players analyzed in the research include Alpine Electronics, Pioneer Corporation, TomTom International BV, Panasonic, Mitsubishi Electric Corporation., JVC KENWOOD Corporation, Robert Bosch, Garmin Ltd., Sony Corporation, Denso Corporation, and Continental AG. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.

Driving factors for the market

1.  Rise in number of car productions and sales in ASEAN countries

2. Growing need of traffic control

3.  High penetration of wireless communication technology and advanced connectivity infrastructure

Market Restraints and Opportunities: 

Questions answered in the ASEAN Car GPS Navigation System Market research report:

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Allied Market Research published a report, titled, "Self-Driving Truck Market by Level of Autonomy (Level One, Level Two, Level Three, and Level Four) and Industry Vertical (Logistics, Construction & Manufacturing, Mining, and Port) - Global Opportunity Analysis and Industry Forecast, 2020-2025". According to the report, the global self-driving truck market would generate $1 billion in 2020 and is further expected to reach $1.67 billion by 2025, growing at a CAGR of 10.4% during the forecast period, 2020-2025.

The growth of the global self-driving truck market is driven by the growing number of human-induced road accidents and surge in artificial intelligence (AI) capabilities in automotive that reduces the transportation cost significantly. However, concerns pertaining to security and privacy of shipments hamper market growth. Nonetheless, the drive to traffic decongestion would provide lucrative opportunities for emerging market players in the near future.

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Trucks having level four autonomy expected to grow at a rapid rate in the future

By level of autonomy, level four segment is expected to grow at the highest CAGR of 18.7% from 2020 to 2025. Their demand is driven by that fact that these vehicles can continue to operate autonomously even if the driving situation is out of control, thereby preventing approximately 75-90% of road accidents. However, level one segment is poised to dominate the global market through 2025, on account of the fact that it was the first step towards automated driving in trucks and have been widely adopted.

Ports segment expected to grow at highest CAGR from 2020 to 2025

Based on industry vertical, the port segment is projected to grow at a mammoth CAGR of 26.6% during the forecast period. This is driven by the increasing number of cargoes that are transferred through ports, which require autonomous self-driving trucks to increase work efficiency and save on labor cost. However, the construction & manufacturing segment would continue to generate the highest revenue in the future by occupying more than two-fifths of the global share by 2025.

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North America to continue its global market dominance through 2025

Regionally, North America generated two-fifths of the global revenue in 2017 and is expected to maintain its dominance through 2025. This is attributed to the surge in demand for road safety which results in the highest adoption of self-driving trucks. Meanwhile. LAMEA is expected to grow at the fastest CAGR of 18.7% from 2018 to 2025, owing to the rise in disposable income in the region.

Key market players

The key players analyzed in the report include BMW AG, Isuzu Motors Limited, General Motors, Otto motors, AB Volvo, Daimler AG, Tesla, Waymo, Toyota, and Volkswagen. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

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Car GPS Navigation System Market