In the recent times, Global Positioning System (GPS) has become a key application in many of the location-aware smartphones. According to RNCOS’ recent research report “World GPS Market Forecast to 2013
”, there was a record growth in the number of subscribers for GPS-enabled location-based services (LBS) across the globe during 2009 and 2010. The trend is likely to continue in the years to come as the growing number of smartphones, technology convergence, mobile commerce, and location-based shopping are expected to boost the GPS market worldwide. The report anticipates that the globalGPS-enabled LBS subscribers will grow at a CAGR of 47% to get double by next year (2013).
The report observed that the speedy enhancements and developments in digital mapping software will also lead to a faster growth for the segment, and the uptake of GPS in new applications will continue at a brisk rate. Besides, the commercial uses of GPS are diverse with applications across various industries. Seeing the market potential, solution providers are increasingly involved in the research and development to offer enhanced features and functionality which are easy to use and provide better navigational services.
In the research, which provides a complete overview of the GPS market worldwide, it was found that the differing needs of commercial and civil GPS users, and the availability of alternative solutions to meet them have led to a highly diverse and competitive market for GPS technologies, equipment, and services. The report evaluates the current trends and developments of the GPS industry. It also studies the key geographic markets, including the US, Canada, Japan, and other Asian countries to present a fair picture of the industry to clients. The analysis of current performance and forecasts has been included in the research report to help clients know and understand the prospects of the GPS industry across the globe.