Satnav maker TomTom on Tuesday announced orders for its in-car navigation systems for 2015 so far exceed €250m, a record for its automotive business.
The company has been investing in automotive through its future proof map platform and modular product portfolio.
‘It’s proving to be another great year in our automotive business,’ CEO Harold Goddijn said in a statement. ‘Bookings for this year together with earlier secured orders will support growth from 2016 onwards.’
Analyst Martijn den Drijver of SNS Securities told the Financieele Dagblad he expects the market share of the Dutch satnav maker to increase from around 15% to 45% over the next five to seven years.
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