Global Autonomous Navigation Market Trends
The Autonomous Navigation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Autonomous Navigation Global Market Report 2024, The autonomous navigation market size has grown rapidly in recent years. It will grow from $4.46 billion in 2023 to $5.33 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to development of ai and machine learning, global positioning systems (gps) evolution, regulatory support and frameworks, automotive industry growth, rise in demand for automation..
The autonomous navigation market size is expected to see rapid growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to safety and efficiency priorities, continued automotive industry innovation, regulatory and policy frameworks, enhanced positioning systems.. Major trends in the forecast period include regulatory environment and standards, cost reduction strategies, safety and risk mitigation, industry-specific applications..
High demand for robots is expected to propel the growth of the autonomous navigation market going forward. Robots refer to any autonomously run system that substitutes human effort. Robot helps workers from dangerous activities by allowing them to manoeuvre without clashing with impediments and remain focused on several interventions. Such benefits from robots have increased the demand for autonomous navigation system to attain such crucial functionalities. For instance, in October 2022, according to a report released by the International Federation of Robotics, industrial robot sales returned rapidly in 2021 with globally, 384000 units were shipped. The global robot installations are expected to rebound strongly and grow by 13% to 435, 000 units in 2021. Additionally, America’s sales increased by 27% to 44, 300 units sold. Asia and Australia saw the most growth in demand, with installations climbing 33% to 354, 500 units. Therefore, the high demand for robots will drive the development of the autonomous navigation market.
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The autonomous navigation market covered in this report is segmented –
1) By Solution: Sensing System, Software, Processing Unit
2) By Platform: Airborne, Land, Space, Marine, Weapon
3) By Application: Commercial, Military and Government
Technological advancement is a key trend gaining popularity in the autonomous navigation market. The autonomous navigation systems market is witnessing the implementation of advanced technologies such as deep learning, CNN algorithms for image processing, and pattern recognition. These systems often include a collection of sensors/detectors (such as radar, LIDAR, passive video cameras, and others) that provide input to CNNs. Major companies operating in the market are focused on advancing their technologies to sustain their position in the autonomous navigation market. For instance, in December 2021, Sea Machines Robotics Inc., a US-based autonomous control system company, launched JETsense, which uses autonomous navigation, multi-sensor fusion, and computer vision to propel waterjet watercraft to the forefront of navigation and usefulness. JETsense employs artificial intelligence (AI) and improved autonomy to perceive the domain and retain exact control of steering and speed during a journey, as well as re-route to avoid traffic and impediments, while also providing a new level of streaming data to optimize on-water operations.
The autonomous navigation market report table of contents includes:
1. Executive Summary
2. Autonomous Navigation Market Characteristics
3. Autonomous Navigation Market Trends And Strategies
4. Autonomous Navigation Market – Macro Economic Scenario
5. Global Autonomous Navigation Market Size and Growth
……
31. Global Autonomous Navigation Market Competitive Benchmarking
32. Global Autonomous Navigation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Autonomous Navigation Market
34. Autonomous Navigation Market Future Outlook and Potential Analysis
35. Appendix
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