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The European automotive navigation system market is escalating at a progressive growth rate of 8.88% CAGR during the forecasting years of 2019-2027. The market has been valued at $xx million in 2018 which is up from $xx million in 2017 and is expected to rise to revenue of about $xx million by 2027.
The United Kingdom, Germany, France, Russia, Spain, Italy and the remaining countries collectively forming the Rest of Europe regional segment are considered for the market study.
The European auto industry has emerged as a major exporter of automobiles around the world, by bringing in xx billion trade surplus. Considering navigation as a safety measure in vehicles, government authorities are planning to ensure that all cars must be connected with GPS systems. The European Committee for Standardization (CEN) and the European Telecommunications Standards Institute (ETSI) issued an initial set of standards for cooperative intelligence transport systems.
Germany is the leading country for producing passenger cars amongst all member countries of the European Union. The reduced deployment of taxis for the commute in Germany could be a restraint for the in-car navigation market. A growing proportion of new cars sold in Germany that are equipped with in-dash navigation systems is driving the market significantly.
The major companies operating in the region are Renault, Mitsubishi Electric Corporation, Denso, Bosch, Nissan, Garmin, Hyundai, Alpine, Elektrobit Automotive GmbH, BMW, Ford, Toyota, Chevrolet, Harman, Honda, and Audi.