Navigation System Market – Size, Outlook, Trends and Forecasts (2018 – 2024)

The global navigation systems market value was $XX million in 2017. This market is expected to reach over $1.2 billion by 2024, at an estimated CAGR of 9.98% over the forecast period, 2019 to 2024. One of the major factors driving the growth of the market includes the emergence of aerospace and defence Industry, emergence of smart mobile technology, rising need for security tracking system, growing need for comprehensive spatial information and maps.

Regarding the navigation market, North America has the most significant market share which is followed by APAC and other regions. Factors such as the presence of the number of navigation systems manufacturers, decreasing prices of smartphones and tablet computers, and increasing awareness on the usage of personal navigation systems are driving market growth.

A rise in commercial vehicles and new car registrations with advanced technologies are likely to lead the growth of navigation system market.

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