Global Mobile Positioning System Market is Set for a Rapid Growth and is Expected to Reach USD 58.48 Billion by 2022
Sarasota, FL -- (SBWIRE) -- 01/12/2018 -- Zion Market Research has published a new report titled "Mobile Positioning System Market for Mapping and Surviving, Live Tracking of Objects, Vehicles, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022.'' According to the report, the global mobile positioning system market was valued at around USD37.26 billion in 2016 and is expected to reach approximately USD 58.48 billion in 2022, growing at a CAGR of 7.8% between 2017 and 2022.
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The mobile-based positioning system is the use of a mobile phone in combination with other wireless technologies like satellite, Wi-Fi, Bluetooth etc. inside a building or even in the outside world for various applications. The mobile positioning system includes tracking & mapping, navigation, and maps information and these systems are being implemented in all major mobile OEM products on a large scale. The mobile positioning system can be used for a wide array of consumer-demand services such as location search, mapping, and navigation. The location-based solution can also be used for road-traffic management and emergency-call positioning, as well as new market opportunities like location-based advertising.
The major factors which are driving the growth of mobile positioning system are increasing security needs across world and adoption of the advanced vehicle transportation system in developed countries. Furthermore, a government initiative for the public safety due to rise in terrorist and other criminal activities is fueling the demand for the mobile positioning system market in coming years. However, high cost for the deployment of the mobile positioning system is hindering the growth of this market.
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On the basis of application, the market is segmented into mapping and surviving, live tracking of objects, and vehicles among others. Vehicle tracking segment is expected to dominate the mobile positioning system market as tracking provides driving behavior information such as mileage, fuel consumption, and speed of the vehicles. Real-time data can assist with confirmation of delivery and allow users to supervise working-time guidelines conformity. Mobile positioning devices are widely used in commercial vehicles such as trucks, trailers, buses, and light commercial vehicles for tracking purposes. According to International Organization of Motor Vehicle Manufacturers (OICA), the global commercial vehicle sales have surged by 3.27% and 4.37% in 2015 and 2016 which directly impacted on the deployment of GPS tracking in commercial vehicles. Geographically, North America will dominate the mobile positioning system market due to high adoption of new technology by market players in this region. In Asia Pacific region, mobile positioning system market is expected to witness the highest growth due to increase in the demand of positioning services in vehicles. Further, Latin America and Middle East & Africa are expected to witness significant growth owing to increase in the number of aging infrastructure, manufacturing facilities, and asset's safety and security.
Zebra Technologies Corp, Topcon Positioning Systems, Inc., Raytheon Co, Ericson, ByteLight, Senion, Navcom Technology, Inc, Panasonic Corp., Fei-Zyfer, Inc., and Freeflight Systems, Inc. and others are the major players of the mobile positioning market.
The report segments global mobile positioning system market as follows:
Global Mobile Positioning System Market: Application Segment Analysis
Mapping and surviving
Live tracking of objects
Global Mobile Positioning System Market: Regional Segment Analysis
The Middle East and Africa