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Global Positioning Systems
Market to Reach US$28.9 Billion by 2010, According to New Report
June 29, 2007
Global Positioning
System (GPS) is increasingly gaining acceptance as it penetrates into hitherto untapped areas. Growing use in automotive and
consumer applications is expected to propel the market to about US$28.9 billion by 2010
San Jose, California (PRWEB)
June 29, 2007 - The global positioning systems market developed substantially in the last decade driven by increasing use
in vehicle navigation, fleet management, asset tracking, surveying/mapping, public safety, aviation, marine, aeronautical,
and consumer GPS markets. Uptake of GPS in new applications is projected to continue at a brisk rate, largely driven by growing
availability and declining prices. In recent years, the technology has become increasingly accessible for public application
as new and advanced satellite systems gain omnipresence. In addition to the existing Navstar GPS system of the US, a number
of other novel satellite navigation systems such as Europe's Galileo, Japan's Quasi-Zenith System, China's Twinstar,
and Russia's Glonass are likely to further enhance availability in future. Prices of GPS chipsets are witnessing steady
decline boosting rapid market adoption of GPS-based products. These chipsets are also becoming progressively smaller enabling
incorporation of the technology in mobile phones and PDAs. This is spurring increased use in consumer applications such as
child/elderly people tracking, car navigation and asset tracking. A new genre of compact and Portable Navigational Devices
(PNDs) has emerged to meet growing market demand.
Japan is the world's largest market for GPS followed by
United States and Europe. The European market for GPS is expected to record the fastest growth with a CAGR of about 17 percent.
Developing regions such as Asia Pacific will also emerge as one of the growth markets due to increasing technology penetration.
Land-based GPS market represents the largest end-use segment while consumer GPS market is the fastest growing. GPS-based in-vehicle
navigation systems market is projected to reach 11165 thousand units, growing at a robust double-digit CAGR through 2010.
With high volume applications such as in-car navigation and recreational marine driving the market, decreasing
integration costs and component costs are boosting economies of scale. As miniaturization turns into the norm, GPS products
are becoming more powerful in terms of signal tracking, reacquisition, processing power, display and the operating system.
Emerging application of the technology in cellular phones is all set to create a significant growth platform for the global
market. This is likely to generate a world of opportunities for GPS equipment and cellular device manufacturers alike. The
E911 mandate in the US coupled with latest technological advancements in GPS and mobile handset technology has cleared the
way for large-scale adoption in mobile telephony.
The market is characterized by the presence of participants
such as Fei-Zyfer, Furuno, Garmin International, Hemisphere GPS, KVH Industries, Lowrance Electronics, Magellan Navigation,
Mio Technology, NavCom Technology, Navman NZ Ltd, NovAtel, Raytheon Systems, Rockwell Collins, The Tracking Corporation, Sokkia,
Symmetricom, TomTom International, Topcon Positioning Systems, Trimble Navigation and others.
"Global Positioning
Systems: A Global Strategic Business Report" provides a comprehensive review of market trends, drivers, challenges, product
profile, players, regulatory environment, competition, mergers, acquisitions, and other strategic industry activities. Analysis
is presented for major geographic markets such as United States, Japan, Europe and Asia Pacific. End-Use applications analyzed
include Land Based applications (In-Vehicle Navigation, Consumer, Survey/Mapping, Tracking/Machine Control), OEM, Aviation,
Marine, Military and Timing.
Source: eMediawire
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