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  Navigation Market Looking At Boom Times Says Navteq

By Branko Miletic | Tuesday | 2008-07-01

In an exclusive interview this morning with channelnews, Kirk Mitchell, Director, Business Development, Navteq says the market for navigation services is booming for a number of reasons, not least of which is the falling price of navigation devices themselves.

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Mitchell notes there are a number of key drivers for the uptake of navigation devices, price being one, but the technology too plays its part here.

"These devices are becoming easier to use all the time", says Mitchell, adding that as time goes on, "the amount and quality of services on navigation systems is increasing all the time, giving consumers more choice with what they can do with this technology".

Mitchell also notes that according to GfK, some 750,000 navigation devices were sold in Australia over the past 12 months, representing only about 8 per cent of all vehicles in the country, meaning there is still plenty of space for vendors to increase their market penetration.

On top of that, there are big changes afoot in this space, he says.

"Firstly there is the convergence of mobile and navigation technologies which is going to expand the penetration of navigation technologies to areas not now serviced and secondly, there is more value-adding of services and information, like more location-based services onto navigation services", making them even more appealing to consumers.

In terms of new technology and services, Mitchell these are also having an impact on safety.

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