Declining Prices, Rising Demand Driving Global GPS Technology Market
Released on: June 9, 2008, 11:55 pm
Press Release Author: Shushmul Maheshwari
Industry: Telecommunications
Press Release Summary: The global GPS market is expected to grow 17% by 2010 due to rising affordability, easy operating functions and increasing acceptability by the mass market.
Press Release Body: The use of GPS technology in new applications is anticipated to grow at a rapid pace due to increasing availability of GPS-enabled devices and continuously falling prices, says RNCOS in its new research report, “World GPS Market Forecast to 2012”. As the prices are continuously declining, the sales of GPS devices have observed a sharp increase in consumer exposure as the navigation devices have become more affordable.
As a result, says the report, the global market for mobile location technologies is anticipated to grow at a CAGR of 17% from 2007 to 2010.
As per the report, this 17% growth in GPS systems is supported by the portability feature of the systems. This feature enables the use of same GPS receiver both off-road and while walking in a strange town, bicycling, hiking, and boating, or locating landmarks such as restaurants or gas stations on long road trips.
Moreover, mass adoption of any technology largely depends upon its affordability to the general consumer. So increasing consumer exposure and rising demand for GPS navigation devices worldwide have prompted manufacturers to cut down the prices and make the devices even more affordable with easier operating functions to mass market, adds the research report.
The RNCOS research also provides forecast on the shipment of GPS devices by segment, shipment of GPS-enabled mobile phones and GPS-enabled LBS subscribers by region.
“World GPS Market Forecast to 2012” gives comprehensive information on market trends, drivers, opportunities and challenges that are critical for the success of GPS industry worldwide. It takes into account the major GPS markets such as the US, Canada, Europe, Japan and other Asian countries, including China and India. The research subsumes detailed and elaborate analysis on end-user applications such as in-vehicle navigation and machine control survey/mapping.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
For more information visit: http://rncos.com/Report/IM603.htm Current Industry News: http://www.rncos.com/Blog/
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