The number of GPS-enabled LBS subscribers is anticipated to grow at a CAGR of over 56% during 2010-2013, says RNCOS in its research report.
Online PR News – 07-October-2010 – – According to our research report “World GPS Market Forecast to 2013”, the location-based services market is currently at a turning point, indicating towards the mainstream adoption in the coming two to five years. People are becoming increasingly familiar with small, satellite-based GPS navigation devices in vehicles. Besides, demand for these services is increasing outside vehicles, especially on mobile handsets. The number of GPS-enabled LBS subscribers is anticipated to grow at a CAGR of over 56% during 2010-2013.
Our study shows that the Global Positioning System (GPS) technology contribution to the world economy has shown a steady growth in the last decade. The GPS market worldwide has radically developed on account of high usage of the technology in areas of aerospace applications/avionics, public safety, transport navigational systems, fleet management and others. The uptake of GPS in new applications is expected to continue at a brisk rate.
Due to various growth drivers like technology convergence and others, the market is expected to run on the track of robust growth. The shipment of GPS devices is anticipated to get doubled by 2013 in comparison to 2009 due to numerous factors like GPS-enabled phones and others. It is expected that the GPS-enabled mobile phones will form the largest share in the shipment of GPS devices by 2013.
We have found that North America is one of the world’s most lucrative regions for the growth of GPS technology. However, Asia-Pacific will witness strong growth in the GPS market in coming years. A number of opportunities remain to be tapped for different vertical segments of the GPS market have been unveiled in the report.
Our report “World GPS Market Forecast to 2013” has assessed the current trends of the global and regional GPS markets with future potential of the industry. Overall, the technology has a bright future and will play a vital role in getting accurate location information on a number of devices and will provide a fillip to the development of accurate location-based services in near future.
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