Global Positioning Systems Market (GPS) was valued US$ 38.01 Bn in 2017 and is expected to reach US$ 135.34 Bn by 2026, at a CAGR of 17.2 % during a forecast period.
GPS is a radio navigation system that allows sea, land, and airborne users to define their exact location, velocity, and time 24 hours a day, in all weather conditions, anywhere in the world. GPS is a satellite-based navigation system consisting of a network of 24 orbiting satellites that are eleven thousand nautical miles in space and in six different orbital paths. The satellites are regularly moving, making two complete orbits around the Earth in just under 24 hours. If we do the math, that’s about 2.6 kilometers per second.
The GPS system gets calibrated by its own and therefore it can be easily used by anyone. GPS helps find retail outlets in a new tourist location. Nowadays GPS is very demandable owing to theft-protection systems.
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In future, all GSM phones are expected to fit with superior GPS technology to help the user in navigation. This superior GPS technology will also help track other GPS-mobile enabled users.
GPS gets updated in every twelve minutes. Once the signal has reached the updated time, the satellite is unable to know the correct location and can make calculation based on the wrong information.
The location-based services segment is leading share of the global positioning systems market. Location-based information can be useful for secure authentication of users and fraud management services while enabling mobile services.
North America holds the dominant share in global positioning systems market owing to high military expenditure by governments and high penetration of smartphone. There is no charge to utilize the GPS service as US defense accepting cost of the GPS system is a key opportunity. GPS maintained and upgraded by the US department of defence. However, Asia Pacific is poised to witness the highest growth rate during the forecast period, owing to increasing number of smartphone users, growing adoption of broadband, and high investments in network infrastructure.
Key player operating in global positioning systems (GPS) market are Dr. Mach, Toshiba, MAQUET Holding, Karl Storz, Philips, NDS Surgical Imaging, STERIS, Herbert Waldmann, Surgiris, Trumpf Medizin Systeme, Skytron, ALVO Medical, NUVO Surgical, Stryker, Herbert Waldmann, Olympus Medical Systems, Simeon Medical, Amico, Welch Allyn, and Mizhuo.
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Scope of Global Positioning systems (GPS) Market:
Global Positioning Systems Market (GPS) by Deployment:
Portable Navigation Devices
Automotive Telematics Systems
Global Positioning Systems Market (GPS) by Application:
Surveying and Mapping
Global Positioning Systems Market (GPS) by Region:
Middle East & Africa
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Key Player Operating in Global Positioning Systems Market (GPS):
NDS Surgical Imaging
Trumpf Medizin Systeme
Olympus Medical Systems