Mid and High-level Precision GPS Receiver: Introduction
- A GPS receiver is an L-band radio processor capable of solving the navigation equations to determine user location, speed, velocity, and precise time (PVT), by processing the signal broadcasted by GPS satellites.
- Mid and high-level precision GPS receivers have various applications in agriculture, mining, construction, oil & gas, and other industries
- Rising technological advancements and GPS augmentation systems, and the increasing availability of more cost effective GPS solutions are the key driving factors of the global mid and high-level precision GPS receiver market.
Rise in Demand for Use in Construction Industry
- In terms of end-use industry, the construction industry segment is estimated to be the dominant segment of the global mid and high-level precision GPS receiver market during the forecast period.
- Mid and high-level precision GPS receivers are largely used in the construction industry, due to the adoption of GPS technology in large-scale construction projects such as civil construction sites and megaprojects for equipment tracking.
- Moreover, rising demand for GPS products in construction projects for various uses including tracking systems for timely delivery of construction material and vehicle tracking software in order to track the mileage, speed, and engine hours, and personnel tracking to ensure that employees are at the workplace drives the mid and high-level precision GPS receiver market.
- Additionally, GPS technology connections with cloud technology helps collect and analyze significant location-based data on a company’s heavy equipment.
- In December 2020, Hexagon AB launched a new marine-certified GNSS receiver, namely MarinePak 7. It is specially designed for nearshore applications and Oceanix correction service for 3D positioning solutions.
- The major restraint of mid and high-level precision GPS receivers is low market acceptance of new technologies.
Asia Pacific to Lead the Mid and High-level Precision GPS Receiver Market
- In terms of region, the global mid and high-level precision GPS receiver market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is anticipated to experience the fastest growth in the mid and high-level precision GPS receiver market throughout the forecast period due to the growing agriculture (precision farming) industry as well as rising infrastructure development in major developing Asian countries.
- Asia Pacific is expected to witness increasing demand for mid and high-level precision GPS receivers from countries such as Japan, China, Taiwan, Indonesia, South Korea, and India for numerous applications.
- However, COVID-19 has resulted in disruptions in supply chain activities, revenue losses, and a slowdown in production activities which have highly impacted the growth of the mid and high-level precision GPS receiver market in the region.
- North America holds the second largest share of the mid and high-level precision GPS receiver market due to the presence of a few big players and several small regional players.
- The mid and high-level precision GPS receiver market in Europe is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa, and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Mid and High-level Precision GPS Receiver Market
Key players operating in the global mid and high-level precision GPS receiver market are focusing on technological advancements and expansion to meet the rising demand for mid and high-level precision GPS receivers.
Key players operating in the global mid and high-level precision GPS receiver market include:
- Trimble, Inc.
- Topcon Positioning Systems, Inc.
- Hexagon AB
- Javad GNSS, Inc.
- Hemisphere GNSS, Inc.
- Septentrio N.V.
- Geneq Inc.
- Leica Geosystems AG
- Navcom Technology, Inc.
- Sokkia Topcon Co., Ltd.
- Spectra Precision Inc.
Global Mid and High-level Precision GPS Receiver Market: Research Scope
Global Mid and High-level Precision GPS Receiver Market, by Frequency Type
- Single Frequency
- Dual Frequency
Global Mid and High-level Precision GPS Receiver Market, by Type
- Differential Grade
- Survey Grade
Global Mid and High-level Precision GPS Receiver Market, by End-use Industry
- Oil & Gas
Global Mid and High-level Precision GPS Receiver Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.