The report further states that Garmin's shipments have been growing at about 171% against TomTom's 117% growth. Coming in third place was Mio, with about 8.5% market, followed by Magellan with 6.2% market share.

TomTom still enjoys market dominance in Europe (though not in North America where Garmin is in first place by a large margin) with around 35% of the market vs. Garmin's 20% share. Although if these growth rates continue, as the report suggests they will, Garmin could quickly become the dominant player in Europe as well.

Here in North America, Garmin's stronghold is much more solid: with 49% market share of the total US PND market in Q2 of 2007, garmin soundly beat Magellan, TomTom, and Mio. Surprisingly, Magellan outsold TomTom for the first time in many years -- a good sign of life for the once mighty Magellan.

The latest results aren't good news for TomTom, who had hoped to position themselves as the market leader in the US now that the GPS PND market is taking off. TomTom's strategy of making only a few GPS products with easy to understand differences between models has worked very well in Europe, but hasn't worked as well here in the US. TomTom's product line is focused on the mid-range, effectively shutting TomTom out of the low-end (Magellan Maestro 3100) and profit-rich high-end (Garmin nuvi 600 series) models.

Check out the full report at GPS Business News' website.