Overview and Scope
A personal navigation device (PND) is a portable electronic device designed to assist users in navigating various locations. PNDs are equipped with GPS (Global Positioning System) or other satellite navigation technologies to determine the user’s precise location and provide real-time navigation guidance. These devices are commonly used for automotive navigation and can also be utilized for pedestrian navigation and other outdoor activities.
Sizing and Forecast
The personal navigation devices market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to GPS system availability, military application development, consumer electronics boom, automotive navigation integration, increasing urbanization.
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Segmentation & Regional Insights
The personal navigation devices market covered in this report is segmented –
1) By Device Type: In-Car Personal Navigation Devices (PNDs), Handheld GPS Devices, Smartphone Applications, Wearable GPS devices
2) By Application: Smartphones, Tablets, Automobiles
3) By End-Users: Automotive, Outdoor And Sports, Commercial, Other End Users
North America was the largest region in the personal navigation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal navigation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in travel and tourism is expected to propel the growth of the personal navigation device market going forward. Travel and tourism refer to the activities of individuals or groups traveling to and visiting places outside their usual environment for leisure, recreation, or business purposes. Higher purchasing power, improved connectivity and digital tools, and increasing government investments allow individuals to spend more on leisure activities, thereby stimulating the tourism industry. PNDs provide accurate and reliable navigation assistance, helping travelers find their way to destinations efficiently, whether they are driving, walking, or biking. For instance, in August 2022, according to the World Travel and Tourism Council, a UK-based organization that represents the travel and tourism industry, the travel and tourism sector experienced substantial growth in 2022, with a contribution of 7.6% to global GDP, an increase of 22%, and domestic visitor spending demonstrated significant growth, with a remarkable increase of 20.4% in 2022. Moreover, the travel and tourism sector’s gross domestic product (GDP) is projected to achieve an average annual growth rate of 5.8% during the period from 2022 to 2032. Therefore, the rise in travel and tourism is driving the growth of the personal navigation device market.
Key Industry Players
Major companies operating in the personal navigation devices market are Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Sony Corporation, ALPS ALPINE ASIA CO. LTD, Garmin Ltd., TomTom International BV., Shenzhen RoadRover Technology Co Ltd, Delphi Technology Inc., CalAmp Corp., Omnitracs LLC, Magellan GPS, Advanced Tracking Technologies Inc., Blaupunkt GmbH , Sygic A.S., CarrierWeb, Coban Technologies Inc., Linxup, Mio Technology Corporation, Becker Avionics Inc., NAVIGON AG, AvMap Satellite Navigation Inc., BridgeHaul Logistics Solutions LLC, LiveViewGPS Inc., Navman Wireless, HawkEye Inc., Kenwood Ltd.
The personal navigation devices market report table of contents includes:
1. Executive Summary
2. Personal Navigation Devices Market Characteristics
3. Personal Navigation Devices Market Trends And Strategies
4. Personal Navigation Devices Market – Macro Economic Scenario
5. Global Personal Navigation Devices Market Size and Growth
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32. Global Personal Navigation Devices Market Competitive Benchmarking
33. Global Personal Navigation Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Personal Navigation Devices Market
35. Personal Navigation Devices Market Future Outlook and Potential Analysis
36. Appendix
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