Global GPS Market 2022-2028

Global GPS Market Size, Share & Trends Analysis Report By Type (Covert GPS Tracker, Standalone GPS Tracker, and Others), and by Application (Transportation & Logistics, Government and Defense, Healthcare, and Others) Forecast Period (2022-2028)

The global GPS market is anticipated to grow at a substantial CAGR of 10% during the forecast period. An increasing number of multifunctional devices such as smartphones, laptops, and tablets, owing to easy integration and low cost of other technologies including IoT (Internet of Things) these factors are contributing to the GPS market growth. These devices are also used in automotive telemetries systems, portable navigation systems, and others.

The GPS is segmented on the basis of type and application. Based on type, the market is segmented into a covert GPS tracker, standalone GPS trackers, and others. Furthermore, based on application, the market is sub-classified into transportation & logistics, government and defense, healthcare, and others. Among, the application segment, the healthcare sub-segment is attributed to be the fastest growing owing to the GPS being more in demand by this industry owing to it are used in various devices such as remote patient monitoring, surgically implanted devices, and also healthcare mobile application. The increasing demand by healthcare providers and the adoption of new technology is witnessing the fastest growth in the market.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is dominating the market owing to an increase in the adoption of GPS technology in the transportation and logistics and healthcare segment. Moreover, high military expenditure penetration by governments and regulatory bodies in the region and increasing penetration of mobile devices are factors attributed to the increase in the demand for the GPS market. Furthermore, various key players in the region are investing heavily in the development of technology-based products and partnering with others to be competitive in the region. in April 2021, General Motors launched a new in-vehicle navigation system Maps+, which is an upgrade from GM's OnStar turn-by-turn navigation tool, and 900,000 vehicles can leverage it.

The competitive landscape includes key strategies of leading players, recent developments, and key company analysis. The major players that contribute to the growth of the market include Actsoft, Inc., Google, Inc., Boston Global Tracking, ClearPathGPS, Inc., Garmin Ltd., Queclink Wireless Solutions Co. Ltd., Starcom Systems Ltd., and many others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2021, Garmin launched new handheld devices with the Indian Space Research Organization's Navigation with Indian Constellation (NavIC). The two devices GPSMAP 66sr and GPSMAP 65s that is designed for aviation, marine, fitness, outdoor recreation, tracking, mobile apps, and others. GPSMAP 66sr has specialized features with night vision goggles. GPSMAP 65s, navigation satellite system (GNSS) handheld with sensors for elevation data, barometer to monitor the weather.

Research Methodology

The market study of the global GPS market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global GPS Market Research And Analysis By Type

2. Global GPS Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the global GPS market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global GPS market.
• Insights about market determinants that are stimulating the global GPS market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.