Automotive GPS Modules Market Size, Share, Growth Analysis, By Type(embedded GPS modules, external GPS modules, and hybrid GPS modules), By Application(navigation, tracking, and others), By Region - Industry Forecast 2024-2031

Automotive GPS Modules Market size was valued at USD 3.50 billion in 2022 and is poised to grow from USD 3.78 billion in 2023 to USD 6.94 billion by 2030, at a CAGR of 7.9% during the forecast period (2024-2031).

The automotive GPS modules market is highly competitive and fragmented, with the presence of several major players. To improve their market position and broaden their product offering, players are concentrating on a number of initiatives, including mergers and acquisitions, partnerships, collaborations, and the development of new products. In order to address the evolving needs of the automobile sector, they are also investing in research and development operations to create improved GPS modules and technologies. The competitive landscape of the automotive GPS modules market is expected to remain highly competitive and dynamic in the coming years, with players focusing on innovation, partnerships, and collaborations to gain a competitive edge. 'Bosch (Germany)', 'Continental (Germany)', 'Denso Corporation (Japan)', 'Delphi Technologies (UK)', 'Garmin (US)', 'Harman International (US)', 'Laird Connectivity (US)', 'Mitsubishi Electric (Japan)', 'NXP Semiconductors (Netherlands)', 'Trimble (US)', 'NovAtel (Canada)', 'STMicroelectronics (Switzerland)', 'Teldat (Spain)', 'u-blox (Switzerland)', 'TomTom International (Netherlands)', 'Quectel Wireless Solutions (China)', 'Fastrax Ltd. (Finland)', 'MediaTek Inc. (Taiwan)', 'Sierra Wireless (Canada)', 'Swift Navigation (US)'

The demand for real-time location-based information is increasing in the automotive industry, as it helps in improving the efficiency of transportation and logistics operations. GPS modules provide accurate and real-time location-based information, which is driving the adoption of GPS modules in the automotive industry.

Automotive GPS Modules Integration of GPS Modules with Other Technologies: The integration of GPS modules with other technologies such as infotainment and driver assistance systems is a key trend in the market. The integration of GPS modules with these systems provides a more comprehensive and personalized user experience, and enables the development of new services and applications. Additionally, this integration is transforming the automotive industry by enabling advanced features like real-time traffic updates, enhanced navigation, and autonomous driving capabilities. This trend not only improves the accuracy and reliability of navigation systems but also lays the foundation for the development of smarter and safer autonomous vehicles in the future, ultimately enhancing the driving experience and road safety for consumers.

North America dominated the automotive GPS modules market . accounting for the largest share of the market. This is attributed to the high adoption rate of connected cars and the presence of major automotive OEMs in the region. The increasing demand for GPS-enabled vehicles and the growing use of GPS modules in various applications such as navigation and tracking are expected to drive the market growth in this region.