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Automotive High-precision Positioning Market Analysis

  • Report ID: GMI10971
  • Published Date: Aug 2024
  • Report Format: PDF

Automotive High-precision Positioning Market Analysis

Based on technology, the market is divided into global navigation satellite systems (GNSS), inertial measurement units (IMUs), LiDAR, and others. The global navigation satellite systems (GNSS) segment held over 40% of the market share in 2023. GNSS provides critical location data that enhances vehicle navigation and safety. This technology enables precise features such as real-time mapping, lane-keeping assist, and adaptive cruise control, which are crucial for improving driving safety and efficiency.
 

The integration of GNSS with other sensors, such as LiDAR and radar, further refines positional accuracy and vehicle-to-everything (V2X) communication. As automotive manufacturers focus on fully autonomous vehicles and smart mobility solutions, GNSS technology becomes increasingly important. Continuous advancements in GNSS, including enhanced accuracy and reliability, drive the growth of this market segment, supporting the development of innovative and safer automotive technologies.
 

Automotive High-precision Positioning Market Share, By Vehicle, 2023

Based on vehicle, the automotive high-precision positioning market is divided into passenger vehicles and commercial vehicles. The passenger vehicle segment is valued at USD 12.1 billion in 2023. High precision positioning systems are crucial for enhancing the functionality and safety of passenger vehicles. These technologies enable advanced driver-assistance systems (ADAS) such as lane-keeping assist, adaptive cruise control, and automated parking, which improve the driving experience and overall safety.
 

With the growing demand for comfort and convenience, features such as real-time navigation, traffic management, and collision avoidance are becoming standard in passenger vehicles. Additionally, as automakers innovate to meet consumer expectations and regulatory standards, the passenger vehicle segment continues to drive the expansion of high-precision positioning technologies.
 

North America Automotive High-precision Positioning Market, 2022-2032, (USD Billion)

North America dominates the global automotive high-precision positioning market with around 30% share in 2023, driven by the surge in electric vehicles (EVs) and their integration with advanced navigation systems. With the growing demand for EVs, there is an increasing demand for accurate positioning technology to enhance route planning, battery management, and the use of charging infrastructure. High-precision positioning systems enhance range predictions and facilitate efficient route planning by integrating real-time traffic data and charging station locations. Additionally, the growing investment in EV infrastructure and the focus towards energy efficiency in transportation further drive demand for high-precision positioning technologies.
 

The European automotive high-precision positioning market is experiencing significant growth, driven by a strong emphasis on safety, innovation, and environmental sustainability. Europe's stringent regulations on vehicle safety and emissions propel the demand for advanced driver-assistance systems (ADAS) and autonomous driving technologies, which rely on precise positioning systems. Additionally, Europe's commitment to technological advancement and regulatory frameworks drives the expansion of the market in the region.
 

The Asia-Pacific automotive high-precision positioning market is expanding rapidly due to the region’s expanding automotive industry and increasing adoption of advanced technologies. The region’s strong focus on smart cities and autonomous driving fuels the need for accurate navigation and vehicle-to-everything (V2X) communication. As the automotive industry in Asia-Pacific continues to innovate and expand, the demand for high-precision positioning technologies is projected to increase.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive high-precision positioning reached USD 15.5 billion in 2023 and is set to register over 8% CAGR from 2024 to 2032, due to increasing adoption of advanced driver assistance systems (ADAS) worldwide.

The global navigation satellite systems (GNSS) segment held over 40% share in 2023, owing to its ability to enhance vehicle navigation and safety.

North America market accounted for 30% share in 2023, attributed to a surge in electric vehicles (EVs) and their integration with advanced navigation systems in the region.

Aptive PLC, Bosch Group, Continental AG, Denso Corporation, Garmin Ltd., Hexagon AB, ON Semiconductor, Qualcomm Technologies, Inc., STMicroelectronics, and Trimble Inc., are some of the major automotive high-precision positioning companies worldwide.

Automotive High-precision Positioning Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 350
  • Countries covered: 24
  • Pages: 250
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