India: According to a research report “World GPS Market Forecast to 2013”, the location-based services (LBS) market is currently at a turning point, indicating towards the mainstream adoption in the coming two to five years. People are becoming increasingly familiar with small, GNSS-based navigation devices in vehicles. Besides, demand for these services is increasing outside vehicles, especially on mobile handsets. The number of GNSS-enabled LBS subscribers is anticipated to grow at a CAGR of over 56% during 2010-2013.
The study shows that the satellite navigation technology contribution to the world economy has shown a steady growth in the last decade. The GNSS market worldwide has radically developed on account of high usage of the technology in areas of aerospace applications/avionics, public safety, transport navigational systems, fleet management and others. The uptake of GNSS in new applications is expected to continue at a brisk rate.
Due to various growth drivers like technology convergence and others, the market is expected to run on the track of robust growth. The shipment of GNSS devices is anticipated to get doubled by 2013 in comparison to 2009 due to numerous factors like GNSS-enabled phones and others. It is expected that the GNSS-enabled mobile phones will form the largest share in the shipment of GNSS devices by 2013.
The report has found that North America is one of the world’s most lucrative regions for the growth of GNSS technology. However, Asia-Pacific will witness strong growth in the GNSS market in coming years. A number of opportunities remain to be tapped for different vertical segments of the GNSS market have been unveiled in the report.