North America Autonomous Navigation Market Growth Opportunities and Forecast by 2027
North America Autonomous Navigation Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Solution (Sensing System, Navigation System, Processing Unit, and Software), Application (Commercial and Defense), Vehicle Type (AGVs, Mobile Robots, UUVs, Drones, and Others), and Platform (Land, Marine, and Space)
- Status : Published
- Report Code : TIPRE00018167
- Category : Electronics and Semiconductor
- No. of Pages : 135
- Available Report Formats :
- Last update date : February 05, 2021
2019 Market Size
US$ 106.5 Mn
Base year value
2027 Forecast
US$ 199.9 Mn
Projected by 2027
CAGR 2020-2027
10.2 %
Growth rate
Addressable Market
US$ 1,351.94 Mn
(2020-2027)
The autonomous navigation market in North America is expected to grow from US$ 106.5 million in 2019 to US$ 199.9 million by 2027; it is estimated to grow at a CAGR of 10.2% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Increasing use of AGVs in logistics industry is driving the North America autonomous navigation market in a positive way. With growing industrial economies, the industries are integrating advanced technologies in their business process to optimize productivity. With a growing young and aging working population in industries, the need to incorporate autonomous technologies in the industrial sector is rising, intending to provide products on time. Therefore, industries such as logistics are inclined toward automation to develop automated guided vehicles (AVGs) for time management, accuracy, and productivity. With advancements in robotic technologies, the industrial sector, including logistics, is deploying automation to boost production quality with a better time management aspect. Earlier, AGVs were restricted to manufacturing systems; however, at present, with continuous technological developments, AGVs are getting used in the logistics industry for repeating transportation tasks in container terminals, warehouses, and underground transportation systems. The AGVs, robotic technologies, and automated technologies are heavily used in developed and developing countries where robotics applications are common. Availability of laser-guided navigation, magnetic navigation, optical navigation, AGV with natural navigation, wire navigation, and vision navigation is driving the use of AGVs as per the requirement of logistics and other industries. Moreover, companies such as BlueBotics, which develops autonomous navigation technology that can be installed in all customizable AGVs, also make a positive impact on the North America market growth.
The COVID-19 pandemic has devastating impact over North America. North America is one of the most important region for the adoption and growth of new technologies. This is due to favorable government policies to boost innovation, presence of huge technological companies, and high adoption of automation in various industries, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. This led the governments to impose lockdowns and limit human movement, thereby leading the manufacturing facilities to experience lower than usual production volumes. The US is one of the largest markets for developing autonomous technologies and integrating it into machines. In addition, testing of autonomous technologies is high in the region. However, due to COVID-19, this has declined. Hence, the ongoing COVID-19 crisis and critical situation in the US are predicted to negatively impact the autonomous navigation market growth in North America for the next few quarters.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America autonomous navigation market. The North America autonomous navigation market is expected to grow at a good CAGR during the forecast period.
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North America Autonomous Navigation Market Segmentation
North America Autonomous Navigation Market – By Solution
- Sensing System
- Navigation System
- Processing Unit
- Software
North America Autonomous Navigation Market – By Application
- Commercial
- Defense
North America Autonomous Navigation Market – By Vehicle Type
- AGVs
- Mobile Robots
- UUVs
- Drones
- Others
North America Autonomous Navigation Market – By Platform
- Land
- Marine
- Space
North America Autonomous Navigation Market, by Country
- US
- Canada
- Mexico
North America Autonomous Navigation Market - Companies Mentioned
- Autonomous Solutions, Inc.
- Brain Corporation
- Collins Aerospace, a Raytheon Technologies Corporation Company
- FURUNO ELECTRIC CO., LTD
- KINEXON
- Kollmorgen
- KONGSBERG
- Trimble Inc.
North America Autonomous Navigation Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 106.5 Million |
| Market Size by 2027 | US$ 199.9 Million |
| CAGR (2020 - 2027) | 10.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Solution
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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