The Global GPS (Global Positioning System) Market size is expected to reach $128.7 billion by 2025, rising at a market growth of 20.3% CAGR during the forecast period
NEW YORK, Jan. 1, 2020 /PRNewswire/ -- The Global GPS (Global Positioning System) Market size is expected to reach $128.7 billion by 2025, rising at a market growth of 20.3% CAGR during the forecast period. A Global Positioning System (GPS) is a space-based satellite navigation system that gives position and time information in all weather conditions, wherever there is an uninterrupted line of sight to four or more GPS satellites, on or near the Earth. GPS provides military, civil, and commercial users around the world with critical capabilities. It is operated by the government of the United States and is available to anyone with a GPS receiver.
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It is expected that the global GPS market will see significant growth in the near future due to increased use in the military, defense, and broad spectrum of civilian applications. The GPS device is used in a wide range of industrial applications and, therefore, has a positive influence on the GPS market. Transport, construction, aerospace, and farming are the GPS system's leading users. The adoption of GPS devices increases the operational efficiencies of these industries and helps cut down the overall operation expenses.
Embedded GPS units in passenger vehicles guide travellers through unknown routes in the transportation industry. It is expected that increasing numbers of customers use smartphones with location-enabled services will stimulate market growth in the coming years. The emergence of high-speed mobile data technologies like 3G and 4G promotes the worldwide use of GPS, which is fueling the global market. Stringent policies and licensing, however, are some factors that hinder the growth of the overall market.
Based on Deployment, the market is segmented into Consumer Devices, Automotive Telematics Systems, Standalone Trackers, Portable Navigation Devices and Others. Based on Application, the market is segmented into Location-Based Services, Road, Aviation, Marine, Surveying & Mapping and Others. GPS technology can be used in a wide range of applications like road, aviation, location-based services, marine, survey, and mapping. The location-based services segment recorded a dominant share in the global positioning systems market during 2018. This can be due to a change in market preference towards services like e-commerce and e-hailing. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Qualcomm, Inc., Broadcom, Inc., and United Technologies Corporation (Rockwell Collins, Inc.) are some of the forerunners in the Global Positioning System (GPS) Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include United Technologies Corporation (Rockwell Collins, Inc.), Hexagon AB, Qualcomm, Inc., Broadcom, Inc., Trimble, Inc., Garmin Ltd., KVH Industries, Inc., TomTom N.V., Geotab, Inc. and MiTAC Holdings Corporation.
Recent strategies deployed in Global Positioning System (GPS) Market
Collaborations, Partnerships, and Agreements:
Oct-2019: Broadcom collaborated with OriginGPS for developing a new miniature module with L1 + L5 support provided by the BCM47758 chip. This enables ultra-accurate GNSS positioning. This module has been developed for the solutions that require a dual-frequency and GNSS combination.
Sep-2019: NovAtel, a Hexagon Company, signed an agreement with CNH Industrial N.V. in which it will supply its positioning intelligence technologies to CNH. Through this agreement, NovAtel will introduce its agriculture focused GNSS receivers and correction services to CNH industrial global agriculture brands New Holland Agriculture, European brand STEYR, and Case IH.
Sep-2019: Qualcomm came into partnership with Trimble in which both will develop precise positioning products together. In this partnership, Trimble will combine its Trimble's RTX technology with select Qualcomm Snapdragon Automotive 4G and 5G platforms in order to deliver accurate positioning solutions.
Sep-2019: Trimble signed a partnership agreement with Qualcomm in which both will work together for producing precise positioning solutions for use in automotive applications. In this partnership, they will combine Trimble's RTX® technology with Qualcomm® Snapdragon(TM) Automotive 4G and 5G platforms in order to deliver accurate positioning solutions.
Sep-2019: TomTom collaborated with Microsoft in order to address the automakers precise and reliable navigation.
Sep-2019: TomTom teamed up with HELLA Aglaia in order to provide the access of AutoStream to HELLA for generating map updates called Roadagrams.
Feb-2019: Navman, a subsidiary of MiTAC, announced its collaboration with Haultech in which they would offer the small and medium sized fleet operators, a new transport management solution. This solution has been integrated with Navman's connected M-NAV portable navigation unit and job dispatch so that the fleet managers can supervise the operations in real-time.
Sep-2018: TomTom signed partnership agreement with STMicroelectronics in order to offer geolocation tools and services for tracking and mapping data services, location, and accelerating product development.
Jun-2018: TomTom collaborated with what3words in order to complement its geolocation tools and services for providing better solutions to the customers.
Acquisition and Mergers:
Nov-2018: Broadcom announced the acquisition of CA Technologies. This acquisition strengthens the position of its semiconductor and infrastructure software solutions and allows the company to provide better solutions to customers.
Oct-2018: Trimble took over Veltec; a Brazil based fleet management Provider Company in order to provide fleet management solutions to the transport companies. This acquisition would enhance the market position and productivity of the company.
Product Launches:
Nov-2019: Trimble unveiled the R12 GNSS receiver, a high-performance GNSS surveying solution. This solution is powered by Trimble RTX positioning engine and a new real-time kinematic (RTK) and features Trimble ProPoint GNSS technology, which empowers the land surveyors in quickly measuring the main points in more places as compared to previous technologies.
Nov-2019: Garmin expanded its reach to India through the launch of F?nix 6 series of premium multisport GPS smartwatches. This watch has its special focus on enhancing the outdoor experience of users with its special emphasis on biking, trail running, hunting, mountain biking, etc.
Sep-2019: Garmin introduced Venu, a GPS smartwatch with an AMOLED display. It has the features of 24-7 fitness monitoring comprises of advanced sleep with a pulse oximeter, abnormal heart rate alerts, stress tracking with relaxation reminders, menstrual cycle tracking, and hydration tracking.
Jul-2019: KVH introduced TACNAV 3D inertial navigation system that comprises of GNSS and optional chip-scale atomic lock. This system can be integrated with a number of military GNSS systems and it features one pulse per second timing assurance while GNSS signal loss.
Jun-2019: Hexagon introduced HxGN OnCall, a comprehensive, modernized public safety portfolio. This portfolio uses data analytics in real time for enhancing operational awareness, optimization of resources, and increasing efficiency.
Jun-2019: Garmin released running smartwatch -- Forerunner 945 in India. This has been launched for fulfilling the needs of sports enthusiastic and advanced runners.
May-2019: Trimble released Trimble® TDC600 handheld, an ultra-rugged, all-in-one smartphone and Global Navigation Satellite System (GNSS) data collector for field inspection and GIS applications.
Mar-2019: Geotab unveiled new GO9 telematics device, which helps the businesses in managing their fleets in a better way. This device has the feature of GNSS module to offer customers with GLONASS and GPS support to gain access to location data accurately.
Jan-2019: Garmin announced a trio of new Garmin Drive standalone GPS navigators, drive 52, SmartDrive 55 and SmartDrive 65 for automotive. These navigators have the solid mapping and navigation software with terrain and 3D building data.
Dec-2018: Qualcomm unveiled Snapdragon(TM) 855 Mobile Platform, first commercial mobile platform that supports multi-gigabit 5G, AI and immersive extended reality (XR). This platform supports dual-frequency GNSS using the Galileo E1/E5a signals as well as the GPS and QZSS L1/L5 signals for producing the robust and accurate locations.
Scope of the Study
Market Segmentation:
By Deployment
-- Consumer Devices
-- Automotive Telematics Systems
-- Standalone Trackers
-- Portable Navigation Devices
-- Others
By Application
-- Location-Based Services
-- Road
-- Aviation
-- Marine
-- Surveying and Mapping
-- Others
By Geography
-- North America
o US
o Canada
o Mexico
o Rest of North America
-- Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
-- Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Australia
o Rest of Asia Pacific
-- LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
-- United Technologies Corporation (Rockwell Collins, Inc.)
-- Hexagon AB
-- Qualcomm, Inc.
-- Broadcom, Inc.
-- Trimble, Inc.
-- Garmin Ltd.
-- KVH Industries, Inc.
-- TomTom N.V.
-- Geotab, Inc.
-- MiTAC Holdings Corporation
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