Rapid Growth Of GPS Market Around the World

Bharatbook.com added a new report on “World GPS Market Forecast” evaluate the current GPS industry trends at the global and regional level while giving a prudent analysis of the future potential of GPS industry worldwide.

World GPS Market Forecast

Global Positioning System (GPS) is a revolutionary tool, which provides unequal accuracy and flexibility of positioning for navigation, surveying and Geographic Information System (GIS) data capture. Growing usage in automotive and consumer applications is propelling the mobile location technologies market, which is forecasted to grow at a CAGR of more than 20% to cross US$ 75 Billion by 2013.

The technology is fast gaining acceptance worldwide with rising penetration in previously untapped areas. Thus, the number of GPS-enabled LBS subscribers is expected to take a big leap in coming years with market revenue reaching around US$ 9.8 Billion in 2013. The positive outlook for the industry is accredited to the rapid development and enhancements in digital mapping software.

Although standalone products are quite popular, the most common applications are built around Portable Navigation Devices (PNDs) and mobile phones. As of 2007, PNDs dominated the GPS device market with more than 90% market share. However, this share is expected to get disturbed by the availability of GPS-enabled handsets that will account for around 70% of the market share by 2013. The report says that the shipments of GPS devices will grow at a CAGR of more than 24% in the forecast period but cost will play a critical role in this projected growth.

The report also says that 2009 will be crucial for the overall development of GPS industry in regions such as North America and Europe owing to the current economic market turmoil. Emerging countries like India and China will continue to see rapid growth in the adoption of GPS technology with the launch of low cost GPS-enabled mobile handsets in these countries.

“World GPS Market Forecast to 2013” provides a comprehensive review of the GPS market across the world. The report thoroughly evaluates the current industry trends and developments vital for the success of GPS industry. Analysis is presented for major geographic markets such as the US, Canada, Japan and other Asian countries. The report gives a detailed analysis of end-user applications, including In-vehicle Navigation, Survey/Mapping, Machine Control and others. It also says that opportunities remain untapped for various vertical segments of GPS market, which include new advanced access devices, chipset availability and PND market.