Global Mid-and High-Level Precision GPS Receiver Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028.
A GPS Receiver is a L-band radio processor that is primarily adopted for solving the navigation equations for determining operator position, accurate time, and velocity by processing the variety of signal waves that are broadcasted by GPS satellites. The mid-and high-level precision GPS receiver is gaining huge traction among industries like agriculture, mining, construction, oil & gas, and many others. The growing penetration of GPS receivers in the construction industry, rising availability of cost-effective GPS solutions, coupled with increasing technological development to improve overall GPS infrastructure are the chief factors that are driving the global market growth.
For instance, according to GCP (Global Construction Perspectives) and oxford economics, the construction market is projected to grow around the world with more than USD 8 trillion by 2030, this growth is primarily driven by the US, India, and China. Accordingly, rising spending on construction activities is propelling the demand for mid-and high-level precision GPS receivers, thus, in turn, accelerating the market growth.
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However, heavy reliance on the availability of satellites and interfacing of GPS signals with light-squared signals impede the growth of the market over the forecast period of 2022-2028. Also, commercial use of unmanned aerial vehicles (UAVs) and the development of the emerging markets are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Mid-and High-Level Precision GPS Receiver Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the availability of advanced infrastructural facilities and the high acceptance rate of emerging technologies. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growth of the agricultural industry, as well as the growth of the emerging economies such as India and China, would create lucrative growth prospects for the Mid-and High-Level Precision GPS Receiver Market across the Asia-Pacific region.
Major market players included in this report are:
Trimble, Inc.
Topcon Positioning Systems, Inc.
Hexagon AB
Javad GNSS, Inc.
Hemisphere GNSS, Inc.
Septentrio N.V.
Geneq Inc.
Raven Industries, Inc.
Cnh Industrial America LLC
Quectel Wireless Solutions Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
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Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Frequency Type
Single Frequency
Dual Frequency
By Type
Differential Grade
Survey Grade
By Industry
Agriculture
Mining
Construction
Oil & Gas
Others
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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