Home Geospatial Applications Miscellaneous ‘GPS-based devices market to grow at a CAGR of 15 pc’

‘GPS-based devices market to grow at a CAGR of 15 pc’

New York, US: According to a research report by Reportlinker, the shipment of GPS/LBS devices is projected to grow at a CAGR of around 15 percent during 2012-2015. The shipment is predicted to reach at around 1015 million units by 2015. GNSS market is also anticipated to develop in the coming years. Countries like China, Japan, and India are even focusing on deploying their own GNSS system which will further boost the GNSS market.

As per the report, the market for smartphone-based GPS technology has established its dominance in the past few years and expected to remain the major segment boosting the growth. The growing number of smartphones, technology convergence, mobile commerce, and location-based shopping are all expected to boost the GPS market worldwide in future. Our report covers the detail analysis of GPS market in various regions comprising the drivers of GPS application growth in these areas.

GPS has become the key component in many of the location-aware smartphone applications that have become so popular in recent times. Thus, the number of subscribers of GPS-enabled location-based services (LBS) is anticipated to grow substantially in near future. Speedy enhancements and developments in digital mapping software will present this positive outlook for the industry in future.
    
Besides this, there are dozens of uses of GPS today, with new applications being reported each month in academic, business, and public media. Adoption of GPS in aviation, maritime and waterways, highway and construction, public transportation, railroads, communications, emergency response (e.g., ambulance and fire), surveying, weather, scientific, space, environmental protection, recreation (e.g., sports events), law enforcement and legal services, and agriculture and forestry have created a wide opportunity to the GPS market.

Source: Sacbee