May 24, 2010
Consumer Navigation Market to Triple Between 2010 and 2015: ABI Research
By Anil Sharma, TMCnet ContributorThe global market for consumer navigation devices, services and systems is expected to triple between 2010 and 2015, representing a Compound Annual Growth Rate of 25 percent over the next five years, says a new ABI Research study.
ABI Research’s (News - Alert) new study, “Navigation Devices and Services: In-Dash, Portable, and Mobile Handset-Based Navigation,” provides forecasts by shipments, installed base, form factor type, and revenue for the market as well as for each geographic region.
It covers factory-installed in-dash and aftermarket navigation systems, personal navigation devices, mobile handset-oriented services and new emerging form factors. The report provides an overview of recent trends in the industry and recommendations for ecosystem players, as well as barriers and drivers for the market.
“The consumer navigation space continues to experience a great deal of evolution,” said Dominique Bonte, practice director for telematics and navigation at ABI Research, in a statement.
Bonte said that first, the impact of handset-based navigation services cannot be overstated.
He pointed out that the free services being offered by Google, Nokia, andMicrosoft (News - Alert) combined with the growth of other navigation services available on mobile applications stores, are fostering this growth.
The study noted that this market transformation is having an effect on the industry as a whole. Traditional personal navigation device vendors are experiencing increased pressures on their bottom lines as they work to expand their presence.
Furthermore, all ecosystem players must also find ways to compete with free offerings, differentiate their solutions, and meet the evolving needs of the consumer.
“Other key trends we are seeing include increased multimedia functionality in personal navigation devices and in car navigation systems, and more integration of location-oriented services such as social networking and local search,” said Bonte. “More advanced features such as real-time traffic updates, speech recognition, multi-mode navigation and eco-routing are also being incorporated into services and devices.”
