Automotive Navigation Systems Market Size

Automotive Navigation Systems Market Growth Projections and Opportunities

Various companies worldwide are providing a variety of Mobile Satellite Services (MSS) designed for two-way voice and data communications. These services cater to global users who are frequently on the move or operate in remote locations. The terminal devices in use range from satellite phones to rapidly deployable broadband data services and intelligent connectivity devices. Unlike terrestrial-based systems, all Low Earth Orbit (LEO) and Geostationary Satellite Orbit (GSO) MSS systems offer extensive coverage areas. These MSS systems facilitate portable handheld or transportable telecommunications directly between MSS terminals and the global infrastructure. Another application involves using MSS as an interface connecting local terrestrial-based systems to the global infrastructure, providing satellite-based backhaul services.

The MSS systems currently operational support voice and data radiocommunications as well as Internet access. Key market drivers include a heightened focus on data applications and services, along with an increasing demand for mobility. The rising requirements for MSS across diverse industry verticals are anticipated to offer substantial growth opportunities in the coming years.

Market segmentation is based on MSS type, including Aeronautical MSS, Land MSS, Maritime MSS, Personal MSS, and Broadband MSS. In 2018, Land MSS held the largest market share at 33.57%, with a value of USD 1,242.9 million, and is expected to grow at a CAGR of 6.8%. Aeronautical MSS was the second-largest market valued at USD 936.5 million, with a projected CAGR of 7.6%. Broadband MSS is expected to register the highest CAGR of 8.1%.

The application segment is categorized into oil and gas, media and entertainment, mining, military and defense, aviation, government (disaster management), transportation, automotive, and others. Military and defense held the largest market share of 24.5% in 2018, with a value of USD 908.3 million, and is expected to exhibit the highest CAGR of 6.9%. Aviation was the second-largest market at USD 685.4 million, with a projected CAGR of 7.7%.

The sales channel segment includes offline and online channels. In 2018, the offline segment had a larger market share of 97.0%, valued at USD 3,592.9 million, with an expected CAGR of 7.0%. The online segment, valued at USD 109.3 million, is projected to have a higher CAGR of 14.2%.

Regionally, North America dominated the market in 2018 with a 40.16% share and a value of USD 1,486.8 million, expected to grow at a CAGR of 5.9%. Europe was the second-largest market at USD 921.1 million, with a projected CAGR of 7.1%. The Asia-Pacific market is anticipated to register the highest CAGR of 9.2%.