GPS FORECAST

With the increasing use of mobile location technologies in automotive and consumer applications, it is expected that mobile location technologies market will grow at a CAGR of about 20% to cross US$ 70 Billion by 2013, says “World GPS Market Forecast to 2013”, a new market research report by RNCOS, as GPS provides flexibility of positioning for surveying, navigation and Geographic Information System (GIS) data capture.

Rapid development is witnessed in the GPS domain. In the latest development in the GPS domain is to integrate GPS with RFID, and other technologies. Also, the technology is gaining rapid acceptance in the areas that were earlier untapped. For the overall development of the GPS industry in the regions in the developed countries of North America and Europe, year 2009 was very crucial. Because of the intense demand in the developing countries like India and China will continue to witness rapid growth in the adoption of GPS technology. Relying on the present trend, it is estimated that India’s navigation and telematics system market will grow at a CAGR of around 16% during 2010-2013 to reach around US$ 48 Million by 2013. The market is expected to take a shift from personal use to commercial use, because with the emergence of GPS technology in automation of heavy machinery. The technology will provide heavy equipment to be managed in a cost-effective manner. Thus, it is anticipated that there will be substantial increase in the number of subscribers of GPS-enabled location-based services and projected that the market revenue will touch the mark of US$ 10 Billion by 2013. Speedy enhancements and developments in digital mapping software are presenting this positive outlook for the industry.