Global Autonomous Navigation Market

Autonomous Navigation Market Size, Share, Growth Analysis, By Solution(Sensing System, Software, Processing Unit), By Platform(Airborne, Land, Space, Marine), By Application(Commercial, Military & Government), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45H2022 | Region: Global | Published Date: July, 2001
Pages: 163 | Tables: 91 | Figures: 76

Autonomous Navigation Market News

  • In December 2021, JETsense, a new intelligent voyage control solution from Sea Machines Robotics and HamiltonJet, uses autonomous navigation, multi-sensor fusion, and computer vision for ship navigation in the land and sea.
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Autonomous Navigation Market size was valued at USD 3.24 billion in 2019 and is poised to grow from USD 4.28 billion in 2023 to USD 13.98 billion by 2031, growing at a CAGR of 31.92% in the forecast period (2024-2031).

The market is consolidated in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Google LLC', 'Apple Inc.', 'Tesla Inc.', 'Baidu Inc.', 'General Motors Company', 'Daimler AG', 'Ford Motor Company', 'BMW AG', 'Uber Technologies Inc.', 'Nissan Motor Co., Ltd.', 'Honda Motor Co., Ltd.', 'Toyota Motor Corporation', 'Volvo Group', 'Fiat Chrysler Automobiles N.V.', 'Volkswagen AG', 'Hyundai Motor Company', 'Aptiv PLC', 'Continental AG', 'Mobileye N.V.', 'HERE Technologies.'

The global autonomous navigation market will majorly prosper due to the logistics industry. Increasing popularity of online buying platforms is boosting the growth of e-commerce businesses. E-commerce enterprises offer speedier service, reliable features, and accessibility to its customers, thus making it an ideal option. This rise in popularity has resulted in the employment of robots in logistics. Rise in demand for retrieval systems, automated storage, automated guided vehicles, autonomous mobile robots, and aerial drones will bring lucrative growth opportunities for the market.

The demand for autonomous navigation systems will rise as AI-based robots become more widely adopted. The manufacturing industry's operational processes have been optimized by the industrial revolution, which includes AI and Industry 4.0. In recent years, time and cost-saving features, as well as machines that require less human intervention, have been developed. Artificial intelligence-assisted autonomous robots have transformed a variety of industries. The autonomous navigation system plays a crucial role in autonomous robotics. This method enables robots to perceive their surroundings precisely and make the necessary judgments without the need for human interaction. Israel, Turkey, and India are all working on AI-based combat robots. The Israel Defense Forces (IDF) showcased a pack of AI-based drones used for combat operations to identify targets in November 2021.

Based on the geographical viewpoint, the global autonomous navigation market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the Asia-Pacific region is projected to hold the most substantial Global Autonomous Navigation Market share. This is attributed to the presence of the largest autonomous navigation market in China. With the country's expanding disposable wealth, China is one of the most important markets for high-tech automobiles. Almost every major automaker has made a bet on the Chinese market, which favors compact, low-cost passenger vehicles. As automobile penetration in developing countries is low compared to developed countries, a boom in demand is projected. The demand for automobiles has increased as China's automotive production levels have climbed. Baidu, a Chinese multinational technology corporation, and Volvo Cars, a Swedish automobile manufacturer, agreed in November 2018 to collaborate on the development of electric and completely autonomous cars that will be mass built in China. The market in China is likely to develop as investments in autonomous systems increase.

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Global Autonomous Navigation Market

Report ID: SQMIG45H2022

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