Garmin Revenue By Segment 2013-2019 . Automotive Segment is Dropping.

Summary

Garmin’s largest revenue generating segment is the Automotive. This segment has been declining in revenue since 2008 when it accounted for 72.6% of company revenue. The decline has been due to the increased adoption of mobile phones with GPS technology built into them as well as the increasing number of vehicle manufacturers that are including GPS navigation in new models. The percentage of new cars in Europe with integrated GPS navigation increased from 6% to 11% from 2009 to 2013. In 2019, the segment is forecast for sales of $723 million and accounted for only 25% of the company’s revenue, a decrease of 55.5% in seven years.