LONDON--(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.
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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