GPS Navigator System Market about to cross USD 135.4 billion by 2025
Global positioning systems are satellite navigation systems that can locate objects in real time. GPS is widely used in a variety of civil applications, including road transport, maritime transport, rail transport, heavy vehicle guidance, surveys and maps, social activities and financial services. It is expected that the increased penetration of smartphones and the increase in the number of vehicles equipped with a GPS navigator will increase growth possibilities over the forecast period.
GPS Navigator System Market Size and Growth Rate:
GPS Navigator System Market is projected to reach USD 135.4 billion by 2025 growing at a CAGR of 17.8% during the forecast period 2017 to 2025.
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GPS Navigator System Market Growth Drivers and Restraints:
It is expected that strict licenses, rules and regulations will be a major obstacle to the provision of efficient services.
Leading manufacturers of GPS components making significant investments in research and development activities contribute to the development of new products and innovative solutions and to the improvement of services, generating numerous opportunities.
Geographical Overview of GPS Navigator System Market:
However, the Asia-Pacific region is poised to record the highest growth rate over the forecast period due to the growing number of smartphone users, the growing adoption of broadband and significant investments in the Internet. In addition, it is likely that the expansion of the social network user base and the growing number of GPS applications to share their locations in real time will drive growth in the regional market over the forecast period.
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Key Players of GPS Navigator System Market:
Some of the leading market players of GPS Navigator System Market are Naladoo, Navigon, Navman, Nextar, OUKU, OUMAX, Pharos, Pioneer, Rand McNally, Sanyo, CARELAND and others.
GPS Navigator System Market Segmentation:
By Types:
- Street
- City Tour
- Topographical
- Nautical
By Applications:
- Aviation
- Military
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Key Takeaways from this Report:
- For different product types, end use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constrains and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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