Portland, OR, June 01, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global car GPS navigation system market generated $13.07 billion in 2020 and is expected to reach $35.73 billion in 2030, witnessing a CAGR of 11.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for vehicles with advanced safety & navigation features, rise in demand for reliable real-time traffic information, rapid development of connected cars, and surge in adoption of car sharing & ride hailing services drive the growth of the global car GPS navigation system market. However, lack of telecommunication infrastructure in emerging countries and rise in concerns associated with data protection & privacy restrain the market growth. On the other hand, surge in adoption of electric & hybrid vehicles and technological advancements create new opportunities in the coming years.
Download Report (275 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/3280
Covid-19 Scenario:
- Complete lockdown and temporary shutdown of the automotive industry led to stoppage of manufacturing activities of cars. Consequently, the demand for GPS navigation systems reduced considerably during the initial stages of Covid-19 pandemic.
- The supply-chain disruptions…
