GPS Market Will Pass $86.72 Billion By 2028 | Impact of smartphone sales on the global GPS market remains profound | Wbactive

SkyQuest Technology Consulting Pvt. GmbH.

The global GPS market size was estimated at USD 41.25 billion in 2021 and is expected to reach a valuation of USD 86.72 billion by 2028 at a CAGR of 11.2% over the forecast period (2022-2028).

Westford, Nov. 21, 2022 (GLOBE NEWSWIRE) — There is no doubt that the use of GPS technology is becoming more popular every day. Whether it’s for mapping purposes, navigation, or just checking the location of a favorite restaurant, people are definitely coming to rely on this technology more and more. In fact, GPS has become an indispensable tool for drivers, pilots and hikers. The most important drivers for this GPS market Growth is the increasing demand for navigation solutions from both private customers and commercial users as well as the growing popularity of outdoor sports and activities. The automotive industry is the largest consumer of GPS devices, accounting for almost 50% of total sales in 2021. Within this category, navigation solutions are the dominant device category and are expected to maintain their dominant position in the coming years. In addition to automotive use, other important consumers for the global GPS market include aeronautics (particularly in the commercial transportation sector) and off-road vehicles such as trail blazers and dirt bikes.

There are several factors driving this growth in demand for GPS devices. These include advances in technology that have made GPS more reliable and accurate, and the growing popularity of outdoor sports and activities that require precise navigation. Additionally, improvements in mobile technology have made it easier for users to access location-based applications and services on their smartphones or tablets.

Today, in the global GPS market, the technology is also being used in industrial applications such as autonomous machines, intelligent transportation systems (ITS) and large-scale infrastructure management. Cars can now park themselves, recognize objects and people on the road, and even warn the driver if there is an obstacle in their way. ITS enables cities to more effectively monitor traffic congestion, help self-driving cars negotiate traffic jams, and optimize routes based on Traffic Management System (MBS) criteria such as time of day or weather conditions.

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Impact of smartphone sales on the global GPS market remains profound

GPS receivers are used in a variety of devices, including personal computers (PCs), minicomputers, car navigation systems, handheld devices like smartwatches and smartphones, and even drones. GPS receivers play an important role in positioning these devices, providing users with accurate location information that helps them interact with their surroundings.

Smartphones have had a major impact on the GPS market due to their ubiquity and widespread adoption. Smartphones account for over 70% of all mobile phone shipments worldwide, making them one of the most important device types when using GPS receivers. Smartphones are also used extensively for navigation purposes; they accounted for more than 50% of all revenue from navigation apps in 2021. As smartphones become more popular, there is an increasing demand for GPS receivers that can be used with these devices.

A study published by SkyQuest on the global GPS market predicts that the global smartphone industry will grow from 122 million in 2007 to 1.4 billion by the end of 2022. The growth comes as companies invest more in mobile marketing and consumers increasingly turn to smartphones for entertainment and other activities. Smartphones are now essential for users around the world, whether communicating with friends, accessing information or taking photos.

As people embrace new features like augmented reality and virtual reality, the smartphone market will continue to grow. China will account for the largest share of smartphone sales throughout the forecast period, followed by India. But while Samsung leads with a 20% market share, Apple’s iPhone remains king – accounting for almost a third of all smartphone sales worldwide.

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Rapidly introducing innovative technology to the global GPS market

In recent years, the development of GPS technology has increased rapidly. This is partly due to advances in processing power and storage capacity, as well as aggressive competition between manufacturers. Many new features have been added to GPS receivers over the years, making them more reliable and easier to use.

One of the most significant developments in the GPS market is its increased accuracy. Previously, GPS receivers only had an accuracy range of around 10-15 meters; However, improvements in signal processing now allow receivers to achieve accuracies of up to 10 centimeters. This means map data can be more accurately centered on the user’s location, resulting in improved navigation performance.

Another major breakthrough was the development of dynamic time-of-flight (ToF) sensors. These sensors are able to measure distances in the nanometer range very accurately, which is essential for precise mapping and navigation applications such as autonomous driving and 3D tracking. They’re also extremely fast – typically operating at 1000 Hz or faster – which means they can provide real-time measurements even when the signal from the GPS receiver is disrupted by interference from other sources.

GPS receivers in the global GPS market are becoming more accurate and efficient thanks to advances in signal processing, software algorithms, and miniaturization. In addition, new generations of GPS satellites offer better coverage than ever before. These factors are leading to increasing adoption of GPS devices by businesses and consumers alike.

An example of how GPS technology is being rapidly applied is in automotive navigation systems. Earlier this year, Ford announced it was introducing a new navigation system for its autonomous cars that uses Microsoft’s Azure Cognitive Services platform. The system uses deep learning technologies on the GPS market to interpret data collected from sensors on cars such as cameras and laser scanners. This will enable autonomous cars to navigate roads across North America without human assistance.

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Top players in the global GPS market

  • Calamp (USA)

  • Orbocomm (USA)

  • Qualcomm Technologies, Inc (USA)

  • Sierra Wireless (Canada)

  • Hexagon (Sweden)

  • Queclink Wireless Solutions Co.,Ltd. (China)

  • Shenzhen Concox Information Technology Co. Ltd., (China)

  • Laird (UK)

  • TomTom International BV (Netherlands)

  • Meitrack Group (China)

  • Teltonika (Lithuania)

  • TomTom International BV (Amsterdam)

  • ATrack Technology Inc. (Taiwan)

  • Verizon (US)

  • Trackimo (USA)

  • Geotab Inc. (Canada)

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