The market for portable GPS-enabled navigation devices is forecast to grow from 33.3 million units last year to 36.79 million in 2018, despite an anticipated dip this year. Similarly, total revenue from these device is expected to fluctuate for the next couple of years but will rise to $7.14 billion (£4.5 billion) in 2018.
According to ABI Research, this growth will come from dedicated GPS-equipped head-up displays, eyeware, cycling, health and tracking devices. However, sales of personal navigation ‘sat-nav’ equipment are still declining… and smartphones, smart watches and smart eyewear also threaten the market for dedicated devices.
Dominique Bonte, Vice President and Group Director for Telematics & M2M at ABI Research, said “The markets for cycling computers, health/elderly, and fitness are starting to get interesting. As ASPs decline and smart watches become a more established part of our lives, the addressable market will be eaten up, limiting the growth potential for dedicated fitness devices.
Looking longer term, ABI Research has forecast very strong growth for HUD/eyewear devices, particularly in the fitness, golf, and cycling categories. It would not be surprising to see an acquisition in this space over the next 12 months.”