London, UK: With the increasing use of mobile location technologies in automotive and consumer applications, it is expected that mobile location technologies market will grow at a CAGR of about 20 per cent to cross USD 70 billion by 2013, says “World GPS Market Forecast to 2013”, a new market research report.
The latest industry trend of technology convergence is expected to integrate GPS with RFID, and other technologies. Also, the technology is gaining rapid acceptance in areas that were earlier untapped. Thus, the number of subscribers of GPS-enabled location-based services is anticipated to grow substantially in near future, with market revenue touching the mark of USD 10 billion by 2013. Speedy enhancements and developments in digital mapping software are presenting this positive outlook for the industry.
With the emergence of GPS technology in automation of heavy machinery, the market is expected to take a shift from personal use to commercial use. The technology provides heavy equipment to be managed in a cost-effective manner.
The report also analyses the impact of economic turmoil on the GPS industry. The year 2009 was crucial for the overall development of the GPS industry in regions such as North America and Europe. Emerging countries like India and China would continue to witness rapid growth in the adoption of GPS technology. India’s navigation and telematics system market is projected to grow at a CAGR of around 16 per cent during 2010-2013 to reach around USD 48 million by 2013.
“World GPS Market Forecast to 2013” provides a complete overview of the GPS market worldwide. All the current trends and developments of the GPS industry have been evaluated in the report. Key geographic markets, including the US, Canada, Japan and other Asian countries, have been specially focused in the research.
The research report offers prudent analysis of end-user applications, such as Survey/Mapping, In-vehicle Navigation, Machine Control, etc. It also says that opportunities remain to be tapped for different vertical segments of the GPS market, including chipset availability, new advanced access devices, and the Portable Navigation Device (PND) market.
All-in-all, the report guides clients in assessing current trends of the global and regional GPS markets, while simultaneously giving them a snapshot of the future potential of the industry worldwide.