New Delhi, India - RNCOS has recently added a new Market Research Report titled, “World GPS Market Forecast to 2013” to its report gallery. Global Positioning System (GPS) is a groundbreaking tool offering unequal accuracy as well as flexibility of positioning for surveying, navigation and Geographic Information System (GIS) data capture. Increasing use in automotive and consumer applications is stimulating the mobile location technologies market, which is expected to grow at a CAGR of about 20% to cross US$ 70 Billion by 2013, says “World GPS Market Forecast to 2013”, a new market research report by RNCOS.
With increasing penetration in the areas that were earlier untapped, the technology is rapidly gaining global acceptance. Thus, the number of subscribers of GPS-enabled location-based services is anticipated to grow substantially in near future, with market revenue the mark of US$ 10 Billion by 2013. Speedy enhancements and developments in digital mapping software are presenting this positive prospect for the industry.
It should be noted that the most common applications are developed around mobile phones and Portable Navigation Devices (PNDs) despite the popularity of standalone devices. The GPS device market was dominated by PNDs as of the year 2007. However, this share is expected to get disturbed by the availability of GPS-enabled handsets that will account for around 66% of the market share by 2013. The report reveals that the GPS devices’ shipments will grow at around 22% CAGR during the forecast period (2010-2013), although cost is certainly expected to play a crucial role in this growth.
The report also says that 2009 was crucial for the overall development of the GPS industry in the regions such as North America and Europe, owing to the economic turmoil. Emerging countries like India and China will continue to witness 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 complete overview of the GPS market worldwide. All the current trends and developments of the car GPS industry have been evaluated in the report. Key geographic markets, including the US, Canada, Japan and other Asian countries, have been specially focused in the research.
Our research report offers prudent analysis of end-user applications, such as Survey/Mapping, In-vehicle Navigation, Machine Control, etc. It also unveils that opportunities remain to be tapped for different vertical segments of the GPS market, including chipset availability, new advanced access devices, and the PND market.
All-in-all, the report guides clients in assessing current trends of the global and regional GPS markets, while simultaneously giving them a snapshot of the future potential of the industry worldwide.