“The navigation map order will come from a major Asian carmaker known for introducing transformative products using advanced driving assistance systems (ADAS), which have garnered significant attention from buyers. The other order is from an Indian OEM that has recently demonstrated its ability to use ADAS to attract buyers with a new range of SUVs,” said a source who wished to remain anonymous as discussions are still confidential.
An email sent to the company remained unanswered at press time. The supply of AI-powered navigational maps is expected to span over the next 2-3 years. In June 2024, Genesys signed a strategic partnership with NNG Technologies to provide navigational maps and connected car solutions. NNG is a leading player in navigation and connected car technology, with clients including Lamborghini, Ferrari, Renault, Ford, Mazda, Jaguar Land Rover, Harley-Davidson, and McLaren. Genesys will leverage this partnership to gradually engage Indian automakers.
The market for navigation maps and connected car solutions in India is currently valued at about Rs 180-200 crore and is projected to reach Rs 500-600 crore in the next 3-4 years. Genesys International aims to capture a significant market share in the automotive mapping sector, which is growing rapidly. The introduction of smart technologies, such as intelligent speed assistance and ADAS, has expanded the market for mapping companies. These technologies provide drivers with alerts about speed limits, traffic signs, lane-keeping assistance, and adaptive cruise control. Genesys’ AI-powered maps produce HD maps that detail every aspect of the road environment, including elevation, road curvatures, lane markings, and road signs. This level of detail is crucial for the safe operation of autonomous vehicles, addressing challenges like poor visibility, urban canyons, and GPS-deprived zones.
Detailed navigation maps with elevation and road curvature information are particularly important for electric vehicles (EVs), where road gradients significantly impact range per charge. By using these tools, carmakers can more accurately estimate range across different terrains, thus reducing range anxiety—a major barrier to the adoption of EVs.
Genesys has consistently invested in building its geo-content program and has conducted the largest mapping exercise in India, covering approximately 3,000 towns and cities. The company has driven over 3 million kilometers and digitalized India’s largest navigable road network, totalling close to 8.5 million kilometers. In addition to the automotive sector, Genesys has seen strong demand for its advanced location intelligence products in areas such as solar energy, urban planning, real estate, disaster management, and land records. The company’s revenue increased to Rs 203 crore in FY24, up from Rs 187 crore in FY23, while its profit rose to Rs 21.61 crore from Rs 14.93 crore over the same period.