Global GPS Receiver Market 2017-2021
About GPS Receiver
Global positioning system (GPS) is a satellite-based navigation system consisting of a network of 31 satellites that orbit the Earth. Twenty-four of them are currently operational and orbiting the earth, while seven are acting as backups in case one fails. The GPS was developed by the US military that implemented this satellite network for military navigation purposes but later opened it up for commercial use. These 3,000- to 4,000-pound solar-powered satellites circle the globe at speeds of nearly 12,000 miles/hour (19,300 km/hour), making two complete rotations every day. The arrangement of the orbits is such that at least four satellites are visible in the sky at any given point in time.
Technavio’s analysts forecast the global GPS receiver market to grow at a CAGR of 15.78% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global GPS receiver market for 2017-2021. To calculate the market size, the report considers the sales of GPS receiver in various applications such as automobiles, LBS, aviation, industrial machinery, and maritime.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global GPS Receiver Market 2017-2021
Technavio recognizes the following companies as the key players in the global GPS receiver market: Broadcom, STMicroelectronics, and u-blox
Other Prominent Vendors in the market are: Esterline Technologies, FURUNO ELECTRIC, Honeywell International, Japan Radio, Maxim Integrated, MediaTek, Qualcomm, Rockwell Collins, Telecom Design, Leadtek Research, and Wi2Wi.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Advent of autonomous driving. Many converging sectors are working collectively on the R&D of autonomous driving. Globally, major car groups are working on their own autonomous driving technologies, which has caught the interest of both premium and volume manufacturers such as Tesla, Audi, Mercedes-Benz, Ford, and BMW. The German automobile industry leads the state of development and availability of autonomous driving functions while car manufacturers in countries like the US and China are profiting from the availability of autonomous driving technologies in mass-produced vehicles.”
According to the report, one of the major drivers for this market is Use of GPS receivers in mHealth. Mobile health (mHealth), a sub-segment of eHealth, includes medical and public health practice supported by mobile devices. It focuses on the use of mobile communication devices and applications for health and well-being services and information purposes. mHealth applications are expected to play an important role in managing personal health in the future. They cover a wide range of purposes including healthcare delivery, health promotion, and illness prevention.
Further, the report states that one of the major factors hindering the growth of this market is High cost of GPS receivers for industrial use. GPS technology still has limited use in the manufacturing supply chain and is mostly deployed in logistics applications. Though the GPS technology helps manufacturers keep a tab on trucks or monitor the status of large containers in transit, i.e., in the field of logistics, there are fewer applications of the GPS technology on the factory floor or in the warehouses. This can mostly be attributed to the high cost of GPS receivers compared with other automatic identification and data capture technologies like RFID and barcodes, along with the fact that GPS lacks the precision for locating items within an enclosed space. As the price of GPS receivers used for tracking and locating products is still higher than competing technologies such as RFID and barcodes, OEMs are not motivated to integrate these chipsets into their products for tracking applications like analog to digital converters (ADCs). This hinders the sales of the GPS products in the market and poses a challenge to the market growth.
Broadcom, STMicroelectronics, u-blox , Esterline Technologies, FURUNO ELECTRIC, Honeywell International, Japan Radio, Maxim Integrated, MediaTek, Qualcomm, Rockwell Collins, Telecom Design, Leadtek Research, and Wi2Wi.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook