GPS Market Size, Share, Trends, Growth and Forecast 2032

GPS Market Insights

According to the report published by Zion Market Research, the global GPS Market size was valued at USD 3.51 Billion in 2023 and is predicted to reach USD 13.35 Billion by the end of 2032. The market is expected to grow with a CAGR of 16% during the forecast period. The report analyzes the global GPS Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the GPS industry.

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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.

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.

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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.

GPS Market: Report Scope

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
• 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
• Symmetricom.

The Global GPS Market is segmented as follows:
    
By type 

• automotive systems 
• GPS-enabled mobile phones
• aviation systems
• marine systems
• GPS cameras

By application 

• traffic control
• security 
• navigation
• position tracking

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

What Report Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.