Global Automotive Maps Market - Integration of Navigation-Supported Safety Features to Promote Growth | Technavio
April 20 2018 - 10:45AM
Business Wire
Technavio’s latest market research report on the global
automotive maps market provides an analysis of the most
important trends expected to impact the market outlook from
2018-2022. Technavio defines an emerging trend as a factor
that has the potential to significantly impact the market and
contribute to its growth or decline.
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Technavio has published a new market
research report on the global automotive maps market from
2018-2022. (Graphic: Business Wire)
According to Technavio market research analysts, the global
automotive maps market will grow at a CAGR of close to 10%
during the forecast period. The integration of navigation-supported
safety features is a major factor driving the market’s growth.
The rise in the number of vehicles on the road has increased
accident rates globally, with fatalities reaching 1.3 million in
2017. This has created demand for more safety systems and
technology for drivers, passengers, and pedestrians. Apart from the
mandates by regulatory agencies that have forced OEMs to include
safety systems such as airbags, the automakers are also voluntarily
equipping safety systems and related applications through
intelligent controls in the navigation system.
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In this report, Technavio highlights the increased support for
open source and standard platforms for application development in
automotive infotainment as one of the key emerging trends driving
the global automotive maps market:
Increased support for open source and
standard platforms for application development in automotive
infotainment
Traditionally, the competition among the automotive
manufacturers was limited to the towing capacity, acceleration, and
horsepower of the vehicle. But, recently, there has been a shift in
the focus of consumers and OEMs from under the hood to behind the
dashboard of the vehicle. A budding area of competition between
automobile manufacturers and automotive infotainment/navigation
system manufacturers is the software or OS used in the vehicle
infotainment systems.
According to a senior analyst at Technavio
for automotive electronics research, “Manufacturers of
automotive navigation systems are shifting toward the personal
computer like architectural concept. In this, the functionality of
the system is dependent on the main central processing unit. As a
result, the software or OS used in the systems acts as the product
differentiator among brands.”
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Global automotive maps market
segmentation
This market research report segments the global automotive
maps market by product (HD maps and ordinary maps) and key
regions (the Americas, APAC, and EMEA).
In 2017, the Americas dominated the global automotive maps
market with a share of over 38%, followed by EMEA and APAC. High
revenue from connected cars in the Americas is due to the
large-scale penetration of high-end vehicles and consumer demand
for connectivity features such as in-car Wi-Fi, navigation systems,
and OTA updates in vehicles. In 2017, the market for automotive
maps in APAC was considerably low because of less penetration of
connected cars technology. However, owing to the high-volume
automotive production, the market in this region is expected to
gain good traction over the forecast period.
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version on businesswire.com: https://www.businesswire.com/news/home/20180420005553/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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