GPS technology is an invaluable tool that modern society is completely dependent upon. The GPS market has drastically grown worldwide on account of increased use of the technology in areas of fleet management, aerospace applications/avionics, transport navigational systems, public safety, and others. GPS technology has proven its worth as huge benefits are being drawn from this technology to obtain precise position, velocity, and timing information of various devices.
According to an RNCOS research report released yesterday, “World GPS Market Forecast to 2013”, the contribution of the Global Positioning System (GPS) technology to the world economy has shown a steady growth in the last decade. The global shipment of GPS devices is anticipated to reach around 900 Million Units by 2013, growing at a CAGR of more than 20% during 2011-2013, acknowledged RNCOS in its latest research report.
All these factors are expected to fuel growth in the global shipment of GPS devices to grow at a compound annual growth rate (CAGR) of more than 20% during 2011-2013.
Ongoing research found that, the emerging applications of GPS in automation of heavy machinery will provide a platform for the global GPS market. It will create a plethora of opportunities for GPS equipment manufacturers. The market has immense potential in cellular devices also. The E911 mandate in the US, together with the latest technological advancements in the GPS and mobile handset technology, has paved the way for large-scale GPS adoption in mobile telephony.
At the global level, the North American region has played a critical role in the development of the GPS market. To boost growth in commercial GPS markets, the US Government has undertaken some important efforts. Thus, North America, which has witnessed a strong business use for several years, is expected to receive similar positive response from the consumers in future. However, the Asia-Pacific region will witness strong growth in the GPS market in the coming years, but it will vary among market leaders like South Korea and Japan that will continue to be the engines of location-based service (LBS) growth.
“World GPS Market Forecast to 2013”, provides extensive information and rational analysis of the global GPS industry and its emerging trends. It provides an insight into the regional trends together with discussion on the product segmentation. It thoroughly analyzes market size, growth opportunities, regional segmentation, and trends in technology to present comprehensive overview of the market. It also includes the key players segment to provide brief idea of the competitive landscape and business strategies of players.
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