EL SEGUNDO, CA – iSuppli forecasts total market shipments of 65.1 million car navigation systems by 2012, more than three times the 19.8 million shipped in 2006.

Two leaders in this market, Tom-Tom and Garmin, have experienced dramatic revenue growth during the past four years, rising to billion-dollar companies in 2006, thanks in part to high demand from the automotive infotainment market, says iSuppli.

Tom-Tom grew to nearly $1.6 billion in revenue in 2006, up from just $10 million in 2002.

An estimated 100 ODMs from Taiwan and Korea are entering the market to take advantage of sales growth. The biggest threat to dominant suppliers comes from Taiwanese ODM Mitac, which owns the brands Mio and Navman. According to iSuppli, Mio and Navman together captured 20% of the market in 2006, putting Mitac in the No. 3 spot behind Tom-Tom and Garmin. Tom-Tom and Garmin posted 37% and 25% market shares, respectively.