The Future of GPS….. COVID-19 & Its Impact….



The global positioning systems (GPS) market size is anticipated to reach USD 146.4 billion by 2025, according to a new study by Grand View Research, Inc., exhibiting a CAGR of 18.4% during the forecast period. Burgeoning popularity of location-based services such as online food delivery and e-hailing services are projected to create significant demand for GPS-enabled devices over the forecast period. Furthermore, increasing use of GPS devices for navigation purposes in military aircraft and navy ships is poised to propel the market.
In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.
Global positioning systems are satellite-based navigation systems that provide real-time location of objects. GPS is widely used in a variety of civil applications, including road transportation, shipping, rail transportation, heavy vehicle guidance, surveying and mapping, social activities, and financial services. GPS transmitters use data to provide exact location of the object. Moreover, a GPS can work in any weather condition that makes it more versatile and reliable.
Among all application segments, the location-based services and road segments are expected to be significant revenue contributors in the global market during the forecast period owing to increasing deployment of GPS technology in smartphones, tablets, networking devices, IoT devices, and connected vehicles. Rising adoption of smartphones and growing consumer inclination towards digital services such as online retailing, cab services, and food at door steps are likely to spur the growth of the market during the forecast period.
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In addition, increasing investments by large market players in developing countries such as China, India and Indonesia are expected to boost overall adoption through partnership with local suppliers. This will help the Asia Pacific market to gain traction over the coming years. However, lack of network infrastructure and  lack of awareness of GPS technology among large population are estimated to hinder the growth of the market over the forecast period.
Further key findings from the study suggest that:
·         North America accounted for the largest market share in 2017 followed by Europe, owing to a large number of smartphone users, high demand for GPS devices for connected fleets, and presence of key market players
·         The Asia Pacific GPS market is expected to witness significant growth over the forecast period on account of increasing per capita expenditure, growing economy, and high adoption of smartphones
·         The location-based services application segment accounted for over 41.0% of the global GPS market in 2017 owing to a surge in the demand for GPS devices for navigation and travel, retail and real estate searches, geo-social networking, and mobile marketing and advertising purposes
·         Prominent market players are focusing on undertaking mergers and acquisitions with system integrators to increase their overall revenue share. Additionally, key players are continually  investing in development of new products to gain a higher market share and increase their overall profitability
·         Military expenditure by governments of countries such as the U.S., Russia, China, India, and Saudi Arabia is projected to rise significantly, thus fueling the growth of the global GPS market over the forecast period.
The global positioning systems (GPS) market size was estimated at USD 37.9 billion in 2017. It is anticipated to progress at a CAGR of 18.4% during the forecast period. Increasing penetration of smartphones along with rising GPS-enabled vehicles is projected to bolster the growth of the market during the forecast period. Moreover, surging use of social media across developing countries and a high number of mergers and acquisitions between component manufacturers and integrators are poised to stoke the growth of the global positioning systems market.
Nowadays, global positioning system has become a common tool used for navigation. The past couple of years have witnessed a rise in use of GPS-enabled smartphones. Growing adoption of e-hailing services across the globe is further likely escalate the demand for GPS-enabled smartphones. The system used in road applications provides various benefits to customers, including ease of traveling and accurate monitoring of operations and assets. Increasing smart mobility applications, such as navigation, fleet management, satellite road traffic monitoring, and several others, are expected to propel the market over the forecast period.
Prominent GPS component manufacturers such as Qualcomm Inc.; Hexagon AB; Broadcom Inc.; Trimble Navigation Limited; MiTAC Digital Technology Corporation (Navman); TomTom N.V; Rockwell Collins Inc.; Texas Instruments Inc.; Garmin Ltd.; and Mio Technology Corporation are estimated to make significant investments in R&D activities. The strategy is anticipated to help them in developing new innovative products, solutions, and augmented services, which will consolidate their position in the global arena.
Besides, mergers and acquisitions between component manufacturers and system integrators are projected to help GPS market players capture a high revenue share and increase overall profitability over the coming years. For instance, in June 2018, Hexagon AB acquired AutonomouStuff, LLC, a U.S.-based autonomous vehicle solutions provider, to deliver advanced autonomous vehicle solutions with the help of its GPS products.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-positioning-systems-gps-market-analysis
Grand View Research has segmented the global GPS market on the basis of deployment, application:
GPS Deployment Outlook (Revenue, USD Million, 2015 - 2025)
·         Standalone Tracker
·         Portable Navigation Devices
·         Automotive Telematics Systems
·         Consumer Devices
·         Others
GPS Application Outlook (Revenue, USD Million, 2015 - 2025)
·         Road
·         Aviation
·         Marine
·         Location-based services
·         Surveying and Mapping
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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