Global GPS Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
The global GPS market is anticipated to grow at a CAGR of 23.7% during 2016 to 2022. The market has generated the revenue $ 26.36 Billion in 2016 and is anticipated to reach up to $ 94.44 Billion by 2022. Increasing demand for GPS IC tablets, cameras & fitness market, increasing demand for multifunctional mobile devices and government support helps to drive the market of GPS, globally.
The global GPS market is basically segmented in to products and applications. On the basis of product the GPS market is further segmented into GPS enabled smart phones; GPS enabled cameras and portable navigation devices. The portable navigation device is further segmented into portable automotive devices, fitness products and marine products.
GPS application market is diversified into large number of segments such as traffic control, surveying & mapping, machine control, logistics tracking and many more. The traffic control is further segmented into three ways: railways, roadways and airways. Similarly, the surveying & mapping is further segmented into various verticals such as space, marine, air, land. The usage of GPS in controlling machines are very high and is anticipated have a swift growth in the near future. The machine control is further segmented into two such as robotics and agriculture.
In today’s world to increasing import/export and swift growth of e commerce market fueled the market of logistics, globally. The logistics tracking market is segmented into cargo & courier services, trucking, sales division tracking, law enforcement and construction.
On the basis of geography, the global wireless chipsets market is segmented into Asia pacific, North America, Europe, and rest of the world. Asia-Pacific is anticipated emerge as high growth regional market due to increasing demand for GPS technology in countries such as India and china. North America and Europe are also projected to witness considerable growth over the next six years.
The increasing demand of wireless network of 3G and 3.5G all over the world has supported the use of GPS devices to produce the solution of signal loss problem with the usage of augmentation technology. It generates an opportunity for all GPS companies to capture the untouched market in the Asia-Pacific (APAC) and Rest of the World (ROW).
The prominent names in the micro server market include Avidyne Corporation, ECT Industries SA, Fei-Zyfer Inc, Furuno Electric Co. Ltd, Hemisphere GPS, Johnson Outdoors Inc, Kvh Industries, Mitac International Corp, Navico Inc, Polar Electro Oy, Raytheon Company, Rockwell Collins, Garmin International Inc, Novatel Inc, Orolia SA. Acquisition, merger, innovation are the major key strategies which helps to sustain in the market. For example, in 2015, Avidyne Corporation, a leading provider of integrated flight decks, displays, and safety systems for general aviation aircraft, announced that effective immediately all Digital Acquisition Units (DAU’s) and Sensor Interface Units (SIU’s) should be returned directly to Radiant Power Corp for service.
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