Noida, India: The global shipment of navigation devices is anticipated to reach around 900 million units by 2013, growing at a CAGR of more than 20 percent during 2011-2013, according to a latest market report by RNCOS, a market research firm.
The report, World GPS Market Forecast to 2013, observed that the contribution of the GPS technology to the world economy has shown a steady growth in the last decade. The GPS market drastically grew worldwide on account of increased use of the technology in areas of fleet management, aerospace applications/avionics, transport navigational systems, public safety, etc.
The research found that the emerging applications of GPS in automation of heavy machinery will provide a platform for the global GPS market. The market has immense potential in cellular devices also. The E911 mandate in the US and the latest technological advancements in the GPS and mobile handset technology have paved the way for large-scale GPS adoption in mobile telephony.
At the global level, the North American region has played a critical role in the development of the GPS market and will sustain it. The Asia-Pacific region will witness strong growth in the GPS market in the coming years, but it will vary among market leaders like South Korea and Japan that will continue to be the main drivers of location-based service (LBS) market.