Global “GPS Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the GPS Industry. Latest report on the global GPS market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length. It also provides a comprehensive overview of the market of different regions across North America, Europe, Asia Pacific, South America, Africa and Others.
The GPS Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
Significant Features that are under Offering and Key Highlights of the Reports:
• Detailed overview of GPS Market
• Changing market dynamics of the GPS industry
• In-depth market segmentation by Type, Application etc
• Historical, current and projected market size in terms of volume and value
• Competitive landscape of GPS Market
• Strategies of key players and product offerings
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The global positioning systems (GPS) market size is projected to account for USD 146.4 billion by the end of 2025, with a CAGR of 18.4%, according to a new report by Million Insights. Growing adoption of digital platforms such as e-commerce, e-hailing, online food delivery, digital payments and cab services are expected to fuel the demand for GPS-enabled devices during the forecast period, 2018 to 2025. Furthermore, the increasing applications of GPS devices in the military, transportation, construction, aerospace and agriculture industries are projected to create huge growth opportunities for the market in the forthcoming years.
GPS is a navigation satellite system which is used infinding or locatingthe position of an object anywhere. The system can operate independently without the integration of the internet reception, although the internet helps GPS in enhancing the accuracy and precision of the system. Key player like Intel, Qualcomm, Google, AT&T and ESRI are making huge investments in the development of location-based technologies, owing to rising applications in the aerospace & defense, retail, BFSI, hospitality and automotive industry.
These systems provide real-time location monitoring features in various devices, such as vehicles, aircraft and smartphones. Thus, expected to create a huge opportunity for the market during the forecast period, 2018 to 2025.
The road and location-based services segment is projected to have high revenue shareover the forecast period, owing to the rising incorporation of GPS technology in the tablets, smart-watches, networking devices, smartphones, connected vehicles and IoT devices. Rising demand for location intelligence services in sales and marketing applications allows enterprises to analyze & predict consumer behavior, buying preference, spending patterns and store performance. Additionally, it allows companies to enhance operational efficiency, reduce the cost and optimize the profitability of the business. Thus, projected to boost the segment growth in the forthcoming years.
Growing application of GPS in a variety of civil applications such as shipping, road transportation, heavy vehicle guidance, rail transportation, surveying & mapping, financial services and social activities are expected to accelerate the market growth in the forthcoming years. Further, the rising emergence of high-speed mobile networking technologies such as 4G and 5G, which are embedded with the GPS systems are projected to support the market growth in the upcoming years. However, the stringent government policies regarding the licensing process are expected to hinder the global positioning system market growth over the forecast period.
Some of the companies for GPS market are:
Garmin Ltd., Broadcom Inc., Hexagon AB, Trimble Navigation Limited, TomTom N.V, Qualcomm Inc., Rockwell Collins Inc., and Texas Instruments Inc.
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