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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Global Positioning Systems (GPS) markets. The world market for Commercial Global Positioning System (GPS) units is projected to reach US$77.7 billion by the year 2018, primarily driven by restoration of growth fundamentals in logistics and transportation industry and subsequent expansion in commercial vehicle fleet with integrated navigational capabilities. Technology developments enhancing accuracy, quality and reliability of GPS units, and robust demand from developing markets also augur well for the future of this market.
San Jose, CA (PRWEB) November 14, 2012
Follow us on LinkedIn – Of the numerous technologies that the mankind has developed over the years, the ability to know one’s location on earth has been a major breakthrough. Gone are the days when lodestones and magnetic compasses were used to determine one’s location. Introduction of satellites has provided much required fillip to the efforts directed at enabling people be aware of their current location and direction in which they are travelling, and also use route map for directions with pin point accuracy. The idea of satellite based position finder was originally initiated by the US Department of Defense (DoD) in the 1970s to serve the US armed forces. Following a decade and half of development later, Global Positioning System (GPS) satellite constellation took shape with all required ground equipment in position. Hitherto limited to defense and select end use cases such as emergency response, weather and scientific applications, GPS is now gaining widespread commercial applications across diverse industry segments. While few applications of commercial GPS units are extremely simple, like establishing a position of vehicle in transit, others include extremely complex integration of GPS with other technologies such as telematics, navigation and GIS. The current trend of mushrooming commercial applications has been encouraging scores of companies manufacturing GPS satellites and equipment to get up and take notice of the opportunities to tap.
Growing need among business users to be aware of location and time data is especially driving opportunities for global positioning systems market in the commercial sector. GPS technology has been transforming the way businesses are run across diverse industry segments. Whether allowing offshore employees or delivery staff to determine their current location, time and the direction in which they are headed or enabling them to access route map and take appropriate directions to accelerate product and service delivery, commercial GPS units are proving to be handy instruments for enterprise customers. GPS applications have been able to enhance business operations and foster best practices in a variety of industries. Implementation of GPS in positioning and location applications in commercial vehicle fleet, aviation, maritime, surveying/mapping, and machine control, especially opened up world of opportunities for GPS units in the commercial market.
After witnessing temporary decline in volume and value sales in the year 2009, primarily due to the impact of economic recession, the market staged a quick recovery in the year 2010, with commercial GPS units joining the likes of cost cutting technologies like video conferencing and virtualization to emerge into one of the few industries to flourish in the aftermath of recession. With post recession cost wary business owners turning to GPS for new efficiencies and cost savings, growth in the market sprung back to normalcy in 2010, despite undeniable questions over the need for new technology investments. This is because emerging out of the economic crisis typically call for cost rationalizing strategies, and GPS units, given their role in helping organizations save costs, optimize return on assets (ROA), enhance operational efficiencies and ensure quick delivery of products and services to end-users, largely benefited from the trend. For instance, helping determine current location of delivery van/transport vehicle and generating route map for directions they have to take, in-vehicle GPS units save considerable amount of time and effort that delivery staff has to spend on manually searching for destination. Using route maps to reach the destination will also generate considerable fuel costs that the fleet owners/shipping merchants/commercial airline operations have to otherwise incur if the vehicle/ship or aircraft veers off course.
Increased activity in the transportation industry will continue to expand commercial vehicle fleet size, thus increasing market prospects for GPS devices. Increase in demand for commercial vehicles such as light trucks and heavy duty container vehicles among others, and subsequent increase in production of the same, especially augurs well for the market since most of these vehicles will come to the market equipped with integrated navigational capabilities. With fuel prices rising, after a temporary decline, commercial vehicle manufacturers are expected to integrate GPS units as a key value addition in their vehicles. Manufacturer efforts to improve their GPS products, especially by adding value-added features to few of their high-end devices to offer services such as minute-to-minute traffic situation, weather information, and location of nearby restaurant and gas station augurs well for the market. Few manufacturers have also been integrating the ability to access audio, video files and Internet via their traditional GPS units. These features will certainly give manufacturers access to new revenue streams.
As stated by the new market research report on Global Positioning Systems (GPS), Japan represents the largest regional market for commercial GPS units worldwide. Asia-Pacific however represents the fastest growing regional market, with revenue for commercial GPS units in the region waxing at a CAGR of about 17.8% over the analysis period. Robust demand for light commercial vehicles such as pick up and delivery vans, and trucks, and subsequent increase in commercial automobile manufacturing in the region, particularly in automotive manufacturing hub, China will continue to lend traction to the in-vehicle commercial GPS units. Land-based GPS Applications represent the fastest growing end-use segment for commercial GPS units with revenue waxing at a CAGR of about 14.9% over the analysis period. In-Vehicle Navigation represents the most land-based application for commercial GPS units.
Key global players profiled in the report include FEI-Zyfer, Inc., Furuno USA Inc., Garmin International Inc., Hemisphere GPS Inc., Hexagon AB, ITT Exelis, KVH Industries Inc., MiTAC International Corporation, NavCom Technology Inc., Navico, Inc., Orolia Group, Rockwell Collins Inc., Sokkia Topcon Co. Ltd., Symmetricom Inc., TomTom International B.V., and Trimble Navigation Limited, among others.
The research report titled "Global Positioning Systems (GPS): A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, challenges, competition, company profiles, mergers and acquisitions and other strategic industry activity. The report provides market estimates and projections (in US$ million) for major geographic markets such as the United States, Japan, Europe, Asia-Pacific, and Rest of World. End-use application segments analyzed include Land-Based Applications (In-Vehicle Navigation, Survey/Mapping, and Tracking/Machine Control), Aviation, Marine, and Timing.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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