The global automotive navigation system market exhibits some sizzling opportunities as navigation systems have gone way beyond the fundamentals and have turned more user-friendly.
# Strategic Acquisition:
Automotive navigation system market witnessed the acquisition of Japanese car navigation maker, Clarion by Faurecia in order to leverage the auto technologies. The deal was finalized at $1.3 billion USD.
Peugeot owns more than 40% stakes in Faurecia agreed to offer a 10.5% share in the acquisition adding more to the saving of operational costs by 2022. Patrick Koller, the CEO added that the combination of product and core areas of technology of Faurecia and Clarion and geographic presence coupled with customer portfolios have created a significant value for all the investors. Post deal sales, the company would reach upto more than 18 billion Euros by end of 2019 leading a significant rise in earnings per share.
The French company plans to initiate a new business venture with headquarters in Japan under the name “Faurecia Clarion Electronics System” that would provide mass employment, further contributing to the revenue generation by 2022.
# App Vs Integrated System:
There has always been a constant debate on the best platform for navigation systems. Google maps operates as mobile navigator and as an integrated system to the car. But the pros and cons exists for both. The greater advantage in using apps is the real-time facility and timely updates doled out by the navigation team. However, the picture also has a dark side when it comes to functionality. Not every app offers versatility such as voice control.
On contrary integrated system comes with a different package for functionality and versatility. Automotive reporter Holger Ippen shares that many providers offer a complete navigation solution. For instance, Tomtom offers navigation solutions for Mercedes, Renault and Mercedes.
Overall, the debate is never ending, but the good news is the market is now embracing the changing landscape in navigation sector and is coming up with massive opportunities bringing the world more closer.