Global GPS Market is fuel by increasing use in the military, defense sector and vast range of civilian applications.
Sarasota, FL -- (SBWIRE) -- 05/12/2017 -- Zion Market Research, the market research group announced the analysis report titled "GPS Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global GPS Market: Overview
Global positioning system (GPS) is a global navigation satellite system that provides information about time and geolocation to the receiver anywhere on or near the earth where four or more GPS satellites must be visible. This system operates independently without integration of the internet reception, but the use of internet helps to improve the usefulness of the GPS positioning information. The GPS system is capable of providing critical positioning to the military, commercial, and civil users worldwide. GPS continuously transmits current position and time to the receiver. It is used in the various applications such as traffic signal timing, time transfer, and synchronization of cell phone base stations.
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Global GPS Market: Growth Factors
The global GPS market is expected to witness significant growth in the near future owing to increasing use in the military, defense sector and vast range of civilian applications. The GPS system is used in a wide range of industrial applications thus influencing the GPS market in a positive way. Transportation, construction, aerospace and farming are leading users of the GPS system. It enhances the operational efficiency of these industries and reduces the overall operation costs. In the transportation industry, inbuilt GPS units in passenger vehicles guide the travelers through unknown routes. Growing number of consumers using smartphones with location enabled services is expected to trigger the market growth in the next few years. The emergence of the high-speed mobile data technologies such as 3G and 4G supports the use of GPS across the world, which fuels the global market. However, strict policies and licensing are some factors that are hampering the market growth.
Global GPS Market: Segmentation
The global GPS market is categorized based on type, application, and geography. The type segment includes automotive systems, GPS-enabled mobile phones, aviation systems, marine systems, and GPS cameras. Based on the application, the market is categorized into traffic control, security, navigation, and position tracking. Regionally, the market is diversified into North America, Asia-Pacific, Europe, and Rest of the World.
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Global GPS Market: Regional Analysis
The GPS market is lead by the North American region; this dominance is expected to continue in the near future too. The rise in the industrial growth and use of advanced technology coupled with superior navigation techniques are factors that are contributing to the GPS market growth in the North America. The demand for smartphone devices is increasing in the countries such as Vietnam, China, Japan, and South Korea, which fuels the market growth in the Asia-Pacific region. Increasing penetration of the high-end military applications in the European market anticipates boosting the global GPS market growth.
Global GPS Market: Competitive Players
Key industry participants in the global GPS market include Orolia SA, Furono Electronics, Polar Electro Oy, ECT Industries, Avidyne Corporation, Raytheon Company, FEI-Zyfer, Garmin International, and MiTAC International. Other players influencing the global market are Novatel, SiRF Technology, KVH Industries Inc., Navico, Trimble, Rockwell Collins, Hemisphere GPS, TomTom NV, Johnson Outdoors, and Symmetricom.
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Global GPS Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa