Portable Navigation Device Market Drivers, Trends, and Forecast by 2031

The portable navigation device market is expected to register a CAGR of 6.8% during 2023–2031. Technological advancements are likely to remain a key trend in the market.

Portable Navigation Device Market Analysis

• There are, however, a vast number of opportunities and risks in the portable navigation device market through the increased concern over sustainability and new technology deployment from the major manufacturers. The current prospects for the portable navigation devices market continue to be promising, notwithstanding that PNDs face fierce competition due to the rising popularity of smartphone navigation applications.
• The global market of portable navigation devices was driven by development in smartphones and wearables, which included integrated navigation systems and services without needing any separate navigational devices.

Portable Navigation Device Market Overview

• A portable navigation device is an electronic, portable product that combines positioning capabilities such as GPS with navigation functions. It is also called a GPS navigation device/unit, car/auto GPS, car/auto tracking device, or personal navigation assistant. These are designed to be handheld or mounted on windshields/dashboards of a vehicle and provide nearly all the functionality of in-dash units for navigation. They can be operated on batteries for many hours before they need to be charged at a car's power outlet, making them convenient in any car.
• While the navigation apps available on many smartphones raise competitive pressure, there are some advantages with a portable GPS device, such as detailed maps available for navigation, reliable satellite connectivity in the absence of cellular signal, and the ability to work in remote areas where cell service may be lacking. That makes them one of the most preferred choices among those who still have a soft spot for dedicated portable GPS units for navigation, especially during long drives or places with patchy cellular coverage.

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Portable Navigation Device Market: Strategic Insights

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Portable Navigation Device Market Drivers and Opportunities

Increased Application Area of Navigation Systems

• The extended application area in navigation systems for providing optimized routes from one location to another is mainly facilitated by external technologies such as the Global Positioning System and satellite-based radio navigation systems, thus driving the portable navigation device market. Growth in these application areas not only raises the market growth rate but also forms the foundation of huge opportunities for further innovation and development within the PND market.
• These technologies find applications across industries, particularly in transportation and logistics, with a special focus on the increasing adoption of wireless communication technologies such as Wi-Fi, Bluetooth, ZigBee, and cellular networks that have also contributed greatly to the growth of the market. The incorporation of advanced technologies, including GNSS (Global Navigation Satellite System), yields improved accuracy and robustness in the navigation systems, and it forms one of the important driving forces for market expansion and potential in the upcoming years.

Integration into Vehicles

• The growth in the segment for portable navigation systems is viewed as one of the leading forces toward dominance in the automotive navigation systems market. This dominance is attributed to the user-friendly interface, high accuracy, and real-time traffic updates provided by in-dash navigation systems, leading to an entirely smooth and reliable navigation experience for drivers. While improving the driving experience when integrated into vehicles, these systems bring with them huge opportunities for further market penetration and expansion.
• Furthermore, the growing demand for connected cars and the adoption of advanced driver assistance systems strengthen the demand for in-dash navigation systems, hence fueling the growth of the portable navigation device market. More than this, the in-dash navigation system is fitted with advanced functionalities such as 3D maps and real-time information about road accidents and weather forecasts, thereby boosting the market growth with lucrative opportunities for investment and technological advancements in the industry.

Portable Navigation Device Market Segmentation

Key segments that contributed to the derivation of the portable navigation device market analysis are type, components, application, and end user.

• Based on type, the market is bifurcated into in-car and handheld.
• In terms of components, the market is segmented into sensors, displays, speakers, and others.
• Based on application, the market is divided into landborne, airborne, and seaborne.
• In terms of end users, the market is segmented into travel & transport, military & defense, and others.

Portable Navigation Device Market Share Analysis by Geography

• The portable navigation device market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering mechanical keyboards market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the portable navigation device market in these regions.

Portable Navigation Device Market Regional Insights

The regional trends and factors influencing the Portable Navigation Device Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Portable Navigation Device Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Portable Navigation Device Market Report Scope

Portable Navigation Device Market Players Density: Understanding Its Impact on Business Dynamics

The Portable Navigation Device Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Portable Navigation Device Market are:

1. TomTom International BV
2. Continental AG
3. Garmin Ltd.
4. Marvell Technology Group Ltd.
5. Texas Instruments Incorporated
6. Magellan (MiTAC International Corporation)

Disclaimer: The companies listed above are not ranked in any particular order.

Portable Navigation Device Market News and Recent Developments

The portable navigation device market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the portable navigation device market are listed below:

• Garmin (NYSE: GRMN) today announced the eTrex® Solar, an easy-to-use GPS handheld that utilizes solar power to go the extra mile. The latest iteration in the tried-and-true eTrex series offers solar charging that can provide infinite battery life1 for hikers, geocachers, and off-the-grid adventurers. Enjoy the outdoors longer and take the road less traveled with the eTrex Solar in hand; users can view waypoints, track their location, and find their way back to favorite spots on the 2.2-inch high-contrast display that’s easy to read, even in bright sunlight.

(Source: Garmin Ltd., Press Release, November 2023)

Portable Navigation Device Market Report Coverage and Deliverables

The "Portable Navigation Device Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Portable navigation device market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Portable navigation device market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Portable navigation device market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the portable navigation device market
• Detailed company profiles