Personal Navigation Devices Market Size, Share, Revenue, Trends And Drivers For 2024-2033

LONDON, GREATER LONDON, UK, July 9, 2024 /EINPresswire.com/ -- The global personal navigation devices (PNDs) market is set to expand significantly, growing from $2.87 billion in 2023 to $3.15 billion in 2024, at a compound annual growth rate (CAGR) of 9.7%. This growth trajectory can be attributed to the widespread availability of GPS systems, advancements in military applications, the boom in consumer electronics, integration of automotive navigation systems, and increasing urbanization trends.

Rise in Travel and Tourism Drives Market Growth
The burgeoning travel and tourism sector is a key driver fueling the growth of the personal navigation devices market. Travel and tourism activities, encompassing leisure, recreation, and business travel, have surged with improved connectivity, digital tools, and increased disposable income among consumers. According to the World Travel and Tourism Council, the sector contributed 7.6% to global GDP in 2022, showcasing substantial growth. PNDs play a crucial role in enhancing travel experiences by providing accurate navigation assistance for various modes of travel, including driving, walking, and biking.

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Key Players and Market Trends
Leading companies such as Apple Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., and Garmin Ltd. are at the forefront of innovation in the market. For instance, Tack One introduced the Tack GPS Plus in September 2021, incorporating AI-powered features that enhance GPS functionality for logistics and fleet management applications. This advancement underscores the industry's drive towards integrating artificial intelligence into GPS technology to deliver more intelligent tracking solutions.

Major Trends Shaping the Market
Innovative trends in the personal navigation devices market include geofencing and location-based services, personalized user experiences, environmental sustainability initiatives, augmented reality (AR) navigation, and voice-activated navigation systems. These trends are poised to transform navigation technologies, offering users enhanced functionalities and seamless navigation experiences across various applications.

Segments
• Device Type: In-Car Personal Navigation Devices (PNDs), Handheld GPS Devices, Smartphone Applications, Wearable GPS Devices
• Application: Smartphones, Tablets, Automobiles
• End-Users: Automotive, Outdoor and Sports, Commercial, Other End Users

Geographical Insights
North America emerged as the largest region in the personal navigation devices market in 2023, driven by technological advancements and high adoption rates. Asia-Pacific is expected to witness the fastest growth during the forecast period, supported by expanding markets and increasing investments in digital infrastructure.

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Personal Navigation Devices Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Personal Navigation Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on personal navigation devices market size, personal navigation devices market drivers and trends, personal navigation devices market major players, competitors' revenues, market positioning, and market growth across geographies. The personal navigation devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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