Asia Pacific Autonomous Navigation Market is expected to reach US$ 249.1 Mn by 2027

AGVs Segment to Dominate APAC Autonomous Navigation Market during 2019–2027

According to The Insight Partners market research study on “APAC Autonomous Navigation Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Solution, Application, Vehicle Type, and Platform” is expected to reach US$ 249.1 million by 2027 from US$ 124.1 million in 2019. The market is estimated to grow at a CAGR of 11.1% from 2020 to 2027. The report provides trends prevailing in the APAC autonomous navigation market along with the drivers and restraints pertaining to the market growth. AI optimization for increasing navigation efficiency is the major factor driving the growth of the APAC autonomous navigation market. However, issues associated with technology integration and implementation period hinders the growth of APAC autonomous navigation market.

The APAC autonomous navigation market is segmented into solution, application, type, platform, and country. Based on solution, the market is further segmented into sensing system, navigation system, processing unit, and software. Sensing system led the market in 2019. Based on application, the market is sub segmented into commercial and defense. Commercial segment held the largest market share in 2019. Based on type, the market is sub segmented into AGVs, mobile robots, UUVs, drones, and others. AGVs held a substantial market share in 2019. Based on platform, the market is sub segmented into land, marine, and space. Land segment held largest market share in 2019.

Also the ongoing COVID-19 is having a negative impact over the APAC region. APAC region is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, and huge population. The high growth rate of urbanization and industrialization in developing countries of Asia Pacific region is anticipated to offer ample growth opportunities to the market players operating in the autonomous navigation market. Logistics is amongst the prominent industries in Asian economy due to rising e-commerce, however COVID-19 has impacted the supply chain of many industries. However, due to government’s measures to reduce the effects coronavirus outbreak by announcing lockdowns, travel and trade bans has disturbed the performance of supply chain to some extent. Disturbed logistics industry has witnessed minimal adoption of advanced technologies during the time of lockdown. It is expected that with business getting resumed, the adoption of autonomous technologies and systems such as autonomous navigation will increase to increase efficiency with minimal human intervention. All these measures are expected to have a negative impact on the demand of autonomous navigation in this region especially in 2020 and 2021.  

Brain Corporation; Collins Aerospace, a Raytheon Technologies Corporation Company; FURUNO ELECTRIC CO., LTD.; Kollmorgen; KONGSBERG; Trimble Inc.; YUJIN ROBOT Co., Ltd. are among the leading companies in the APAC autonomous navigation market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Collins Aerospace Systems, a Raytheon Technologies Corporation Company, opened a new 15,000 square ft. facility in Singapore to improve maintenance, repair, and manufacturing capabilities.

The report segments the APAC Autonomous Navigation Market follows:

APAC Autonomous navigation Market – By Solution

• Sensing System
• Navigation System
• Processing Unit
• Software

APAC Autonomous Navigation Market – By Application

• Commercial
• Defense

APAC Autonomous Navigation Market – By Vehicle Type

• AGVs
• Mobile Robots
• UUVs
• Drones
• Others

APAC Autonomous Navigation Market – By Platform

• Land
• Marine
• Space

APAC Autonomous Navigation Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC