Portable Navigation Device (PND) Market is projected to grow at a moderate CAGR over the forecast period 2017 to 2022. A portable navigation device uses the signal from navigation satellites of the GPS system to provide position-related information. It is mostly used in vehicles, especially for road navigation. Ease of finding new routes, pre-programming of all destinations coupled with growing people’s interest in traveling to new places are some of the advantages contributing to the market growth. Continuous technological advancement has also led to the emergence of new players in the market and thereby spurring up the demand for these systems. However, increasing usage of GPS-enabled mobile phone users is a major challenge to portable navigation device market growth during the forecast period.
Geographically, North America held the largest market share in 2016 due to the strong presence of key Portable Navigation Device vendors in the region. The rising use of GPS-enabled smartphones is hindering the market growth of portable navigation devices. However, these devices work even without any internet service in the area, making it useful for the defense industry. Furthermore, increasing demand for PNDs by consumers for hiking will bolster the market growth to some extent.
Prominent key market players in the Portable Navigation Device market include Garmin, TomTom, Magellan, and MiO Technology among others. The global Portable Navigation Device industry is facing slow growth due to the increasing penetration of smartphones. As a result, key market players are changing their existing strategy to improvise on the product portfolios. Recently in May 2017, Garmin acquired Active Corporation, the developer of ActiveCaptain, a community-based, electronic marine database that contains near real-time information about marinas, anchorages, and marine hazards.
In this report, the Portable Navigation Device market is segmented by type, application, industry vertical, and geography:
By Industry Vertical
Travel and Transport
Europe Middle East and Africa
Middle East and Africa
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