Europe Automotive Navigation System Market Size

Europe Automotive Navigation System Market Analysis

The Europe Automotive Navigation Systems Market is anticipated to register a CAGR of about 5.89% during the forecast period.

The COVID-19 crisis caused market uncertainty for automobile GPS navigation systems. The pandemic caused a significant slowdown in the supply chain, a drop in corporate confidence, and increased consumer concern. Governments in several areas imposed total lockdowns and temporary industry closures, which harmed the production and sale of car GPS navigation systems. However, post-pandemic players are collaborating and indulging in various strategic partnerships to overcome the losses during the pandemic. For instance,

• August 2022: Unity Technologies announced a collaboration with Mercedes-Benz AG to power the infotainment domain of its new operating system, rolled out across the company's vehicle lineup. Unity's leadership in real-time 3D development will aid in developing 3D maps for more prosperous navigation.

The demand for precise automotive navigation technology is increasing all the time. It aids in the tracking and forecasting of supply chains, resulting in a real-time-definite delivery system. The application is used by applications such as e-commerce and food delivery apps. Furthermore, car-sharing services such as Ola, Uber, and Grab rely heavily on navigation-based technology. As a result, the Europe Automotive Navigation Systems Market is expected to expand over the next few years. For instance,

• September 2022: Hyundai Motor Group (HMG) choosed TomTom maps and real-time traffic data to support its entire vehicle lineup in Europe. Millions of HMG vehicles will be equipped with this technology as standard in the coming years. As with Genesis customers, all Hyundai and Kia customers in Europe now have access to TomTom's high-quality maps to support their vehicles' in-dash navigation and level-two automated driving features.

Policymakers in the EU are mandating the integration of automobile navigation systems to create databases that will assist transportation organizations in maintaining costs, reducing maintenance, and improving road safety. All of these developments will fuel the expansion of Automotive Navigation Systems in the European market. For instance,

• May 2022: GPS navigation will be standard in new cars due to new EU regulations. The EU includes the world's strictest vehicle safety standards. Intelligent Speed Assistance (ISA) will be required for all new EU cars introduced to the market and will be mandatory for all new vehicles sold in the EU beginning in July 2024.

However, hindrances such as the high cost of navigation, telecommunication, cybersecurity, and infrastructure connectivity can slow growth. High fuel prices, low demand for self-driven cars over the past years, and the emergence of electric vehicles are other factors hindering the development. Nevertheless, GPS is essential in the future of Intelligent Transportation Systems (ITS) and shows positive growth.