Global GPS Industry
New Study On “GPS Market 2019 Global Technology, Development, Trends and Forecasts to 2023” Added to Wise Guy Reports Database
GPS or Global Positioning System market is set to take a giant leap forward. GPS technology helps to identify location, navigate or track consignments or persons, using satellite guided technology. This technology, packed with important breakthroughs in recent years, have changed the transportation business. Modern traffic and signaling systems are also using the GPS guidance. Other industries, such as restaurants and tourism are teaming up with GPS technology to further their prospects. It is coming as an integrated part with the smartphone helping millions to use and benefit from this technology. It is increasingly being used in defense sectors to develop new age weaponry or tracking devices.
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Key driving factors for growth in GPS global market is the growing use of smartphones among the youngsters, where GPS comes as an inbuilt system, increasing demand for the system in defense to support surveillance and offensive moves, automotive fleet industry, and others.
GPS has a wide range of application. Partnering with other pathbreaking technologies it has developed products that have changed the outlook for different sectors like defense, navigation, healthcare and others. This market is evolving rapidly due to advancement in technology. The global market for GPS is segmented in product and application type.
Product type can be sub-segmented into covert GPS, Standalone GPS and others. Covert GPS tracker ensures close quarter surveillance by without getting caught, in order to prevent any theft or wrongdoing. Standalone GPS trackers include smartphone and other portable devices. These devices are mainly used for navigation purposes. Advancement of smartphone technology have revolutionized the global GPS market.
GPS trackers have wide range of applications, which can be further segmented into transportation & logistics, healthcare, government & defense and many other, for ease of understanding. Use of GPS navigation system have increased several folds in transportation system. New age public transportation system has adapted the GPS tracker systems for pick up, navigation and dropping facility. The healthcare sector have also benefited with the tracking service – such as to find accident victims or to track Alzheimer patients continuously. GPS collars are used to track and study wild animals, sea creatures and many others.
The global market for GPS is flourishing fast. Use in public transportation, defense systems and healthcare system are giving traction to the North American market. Various manufacturers are investing in this market as the potential for this market is lucrative. Rising use in smartphone have also boosted the market. European market is also witnessing a growth due to rise in smartphone users. Use of GPS in research facilities have increased. Asia Pacific market is also booming due to its huge population and rise in smartphone users. Rise in app based public transportation system is working as tailwind for this market. Healthcare sector is also fast picking up.
The global GPS market is growing fast. Manufacturers with various requirements are investing in R&D to bring out the best product that suites their need. It is equally necessary to stay competitive in this market. Some of the major players are AC Global Systems, Actsoft Inc, Avidyne Copr, Calamp Corp, Google Inc, Global Telemetric Systems, Hemisphere GNSS, Johnson Outdoor etc.
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