Global Positioning System (GPS) Market: Brief Account
The global GPS market is said to have come a long way in a span of few decades. GPS finds usage in a wide scope of civilian applications; however, in some instances, it could be primarily restricted to defense and military applications. Companies operating in the market could also leverage demand for GPS in a substantial count of industrial applications, which are expected to continue to increase at an aggressive rate. Among important end-use industries for GPS could be aerospace, transportation, farming, and construction. Even in geology, GPS is raking in massive demand due to its use for various purposes. For instance, GPS measurements are used to monitor volcano Kilauea’s lava flows and eruptions in Hawaii.
The global GPS market could see a segregation as per application and product. In terms of product, there could be segments such as aviation systems, GPS cameras, automotive systems, marine systems, and GPS-enabled mobile phones.
The report offered here is a comprehensive account of the global GPS market with key focus on growth factors, growth restraints, and trends and opportunities. It also sheds light on the nature of the vendor landscape and how the competition could shape in the near term.
Global Positioning System (GPS) Market: Trends and Opportunities
End-use industries for GPS are observed to make use of the technology for reducing operational cost and improving efficiency. GPS is preinstalled in smartphones to help users guide through unknown locations. Even passenger vehicles today are equipped with built-in GPS system. Taking into account such crucial advantages of GPS, players are expected to come across new application areas to cash in on. GPS is also used to improve response time in emergency situations across a vast array of industries. This helps to increase safety of resources in remote locations.
However, stringent regulatory policies raising licensing concerns are envisaged to hamper growth of the world GPS market. Nonetheless, it could be said that GPS is gaining colossal demand across the globe with rising adoption of 4G and other high-speed mobile data technologies.
Global Positioning System (GPS) Market: Geographical Analysis
During the forecast period 2018-2026, North America is prognosticated to continue its lead in the international GPS market. In the recent past, the region has already demonstrated its dominance over the market mainly due to swelling demand for top-end navigation and rising use of advanced technology. More or less, the same growth factors are predicted to work in the favor of the regional market for the next few years.
Asia Pacific is foretold to trail North America while showing a steep increase in growth because of surging use of smartphone in South Korea and China. Owing to the availability of high-end military applications, demand for GPS is envisioned to grow considerably in Europe.
Global Positioning System (GPS) Market: Companies Mentioned
In order to take advantage of lucrative opportunities in the cellular phone industry, GPS vendors are prophesied to shake hands with smartphone manufacturers. With a view to add customer value to their services and improve accuracy, vendors could largely focus on research and development. Some of the leading names of the international GPS market are Avidyne Corporation, FEI-Zyfer, and Furuno Electronics.
Market segmentation based on geography:
- North America
- South America
- Asia Pacific
- Middle East and Africa
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note : Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.