Sensing System Segment to Dominate North America Autonomous Navigation Market during 2019–2027
According to The Insight Partners market research study on “North America 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$ 199.9 million by 2027 from US$ 106.5 million in 2019. The market is estimated to grow at a CAGR of 10.2% from 2020 to 2027. The report provides trends prevailing in the North America autonomous navigation market along with the drivers and restraints pertaining to the market growth. Increasing use of AGVs in logistics industry is the major factor driving the growth of the North America autonomous navigation market. However, issues associated with time consuming integration and installation hinders the growth of North America autonomous navigation market.
The North America 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.
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.
Autonomous Solutions, Inc.; Brain Corporation; Collins Aerospace, a Raytheon Technologies Corporation Company; FURUNO ELECTRIC CO., LTD.; KINEXON; Kollmorgen; KONGSBERG; Trimble Inc. are among the leading companies in the North America 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 140,000 square foot manufacturing facility in Jacksonville, US.
The report segments the North America Autonomous Navigation Market follows:
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
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com