Autonomous Navigation Global Market Report 2024

The global autonomous navigation market has grown rapidly in recent years. It will grow from $4.46 billion in 2023 to $5.33 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The expansion observed during the historical period can be attributed to several factors, including the development of artificial intelligence (AI) and machine learning technologies, the evolution of global positioning systems (GPS), supportive regulatory frameworks, the growth of the automotive industry, and an increasing demand for automation.

The global autonomous navigation market is expected to see rapid growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. Anticipated growth in the forecast period can be linked to priorities in safety and efficiency, sustained innovation within the automotive industry, regulatory and policy frameworks, and improvements in positioning systems. Key trends expected in the forecast period encompass the evolving regulatory environment and standards, the implementation of cost reduction strategies, a heightened focus on safety and risk mitigation, and the emergence of industry-specific applications.

The growth trajectory of the autonomous navigation market is anticipated to be propelled by the high demand for robots. Robots, autonomous systems that substitute human effort, offer enhanced safety by maneuvering without collisions and enabling workers to focus on various tasks. This surge in demand for robots has amplified the need for autonomous navigation systems to facilitate crucial functionalities. For instance, as per the International Federation of Robotics report in October 2022, global industrial robot sales surged rapidly in 2021, with 384,000 units shipped. Projections indicate a robust rebound, with a 13% growth to 435,000 units in 2021, including a 27% increase in America's sales to 44,300 units and a 33% rise in Asia and Australia to 354,500 units. Consequently, the heightened demand for robots is set to drive the development of the autonomous navigation market.

The burgeoning demand for autonomous vehicles is poised to drive substantial growth within the autonomous navigation market. Autonomous cars, capable of navigating without direct human control, rely on autonomous navigation technologies to maneuver through dynamic and complex scenarios safely and efficiently. For instance, McKinsey & Company's article in January 2023 predicts that autonomous driving could generate revenues ranging from $300 to $400 billion by 2035. Thus, the escalating demand for autonomous vehicles is a pivotal driver for the growth of the autonomous navigation market.

Technological advancements form a significant trend in the autonomous navigation market, witnessing the integration of advanced technologies like deep learning, CNN algorithms for image processing, and pattern recognition. These systems incorporate various sensors (e.g., radar, LIDAR, video cameras) providing input to Convolutional Neural Networks (CNNs). Major industry players are actively enhancing their technologies to maintain their positions in the autonomous navigation market. For instance, Sea Machines Robotics Inc., a US-based autonomous control system company, introduced JETsense in December 2021. JETsense employs autonomous navigation, multi-sensor fusion, and computer vision to enhance waterjet watercraft navigation and functionality. Utilizing artificial intelligence (AI) and improved autonomy, JETsense enables precise control of steering and speed, re-routing to avoid obstacles and traffic, while optimizing on-water operations through enhanced data streaming.

Major players within the autonomous navigation market are increasingly embracing strategic partnerships to collaborate on the development of safety solutions for robotaxis. These partnerships involve leveraging respective strengths and resources to achieve mutual benefits and drive success. For instance, in May 2023, Valeo SA, a France-based autonomous vehicle manufacturer, disclosed its partnership with DiDi Autonomous Driving, intending to invest in the latter to create intelligent safety solutions for L4 robotaxis. Valeo and DiDi Autonomous Driving aim to amalgamate their expertise to deliver passengers safe, reliable, enjoyable, and cost-effective autonomous driving services. DiDi Autonomous Driving, a China-based technology company specializing in L4 autonomous driving, brings complementary strengths to this collaborative endeavor with Valeo.

In February 2021, Zapi Group, an Italy-based manufacturer of electronic speed controllers and associated products, completed the acquisition of BlueBotics SA, strengthening its foothold in the burgeoning autonomous vehicle market. This strategic acquisition positions Zapi Group favorably within the rapidly growing autonomous vehicle sector. BlueBotics SA, a Swiss-based company specializing in autonomous navigation technology, brings its expertise to Zapi Group, enriching the latter's capabilities in this dynamic market segment.

Major companies operating in the autonomous navigation market report are Honeywell International Inc., Thales Group, Raytheon Company, Northrop Grumman Corporation, Furuno Electric Co Ltd., Moog Inc., Rolls-Royce Holdings PLC, Kongsberg Group, Trimble Inc., ABB Ltd., RH Marine Group, Safran S.A, General Dynamics Corporation, L3 Technologies Inc., Collins Aerospace, Activ Surgical, Albora Technologies Limited, Starfish Space, Blickfeld, Caterpillar Inc., Charles River Analytics, Elbit Systems, Ghost Robotics, Fixposition AG, Xona Space Systems, Blue River Technology, Brain Corp., Clearpath Robotics, Embark Trucks, Fetch Robotics

North America was the largest region in the autonomous navigation market share in 2023. The regions covered in the autonomous navigation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the autonomous navigation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary components of autonomous navigation include a sensing system, software, and a processing unit. The sensing system comprises a collection of sensors integrated into a single unit. This system serves dual purposes, encompassing both protection and monitoring, as well as the computation of non-measurable parameters like active and reactive power. It finds applications across various platforms, including airborne, land, space, marine, and weaponry, catering to both commercial and military needs, as well as government purposes.

This report provides autonomous navigation market statistics, including autonomous navigation industry global market size, regional shares, competitors with a autonomous navigation market share, detailed autonomous navigation market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous navigation industry. This autonomous navigation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The autonomous navigation market includes revenues earned by entities by providing services such as object detection, obstacle avoidance, mapping, and localization. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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