GPS Positioner Market Size, Share, Growth, and Industry Analysis, By Type (Independent Positioner and Advanced Positioner), By Application (Vehicle, Items, Person, Pet and Other), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

GPS Positioner Market REPORT OVERVIEW

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The global GPS positioner market size was USD 2039.4 million in 2021 and market is projected to touch USD 5946.3 million by 2031, at a compound annual growth rate (CAGR) of 11.2% during the forecast period.

It is quite obvious that nowadays, the positioning system has become a common tool used for navigation especially in developed countries. Since the past few years, there has been a rise in production as well as use of GPS-enabled smartphones. Also, there has been increasing adoption of e-hailing services in various regions across the globe which poses like pillar to support market growth.

It has a wide range of application which includes ease of traveling and accurate monitoring of operations and assets. With the aid of smart mobility applications, such as navigation, fleet management, satellite road traffic monitoring, and several others are expected to bolster market upliftment during the review period. As a result, the use of GPS has been proved to be very helpful and beneficial for the customers.

Consumer electronics like smartphones and tablets are progressively adopting and using GPS technology. Additionally, it is utilized in additional gadgets including standalone trackers, portable navigation devices, and auto telematics systems. These days, GPS technology has also extended its reach to battery cars, motorcycles, etc. initially, this technology was developed to be used for military purposes, but later on it was started being used for mundane purposes and requirements.

COVID-19 Impact: Disturbance in Supply Chains Results to Market Derailment 

It is quite evident that the rise of COVID-19 virus led to harsh socio-economic restrictions which turned out be a major setback for the whole world. Regions all over the world had to undergo terrible and severe complications. Several businesses and markets had been negatively impacted and had to experience harsh consequences. To save expenditure, workers were forcefully removed from their jobs and work positions. Moreover, lockdowns and public welfare protocols were imposed by the governing bodies. Amidst the chaos, GPS positioner market faced decline in product demand. As a result, the above mentioned government initiatives led in derailed market growth.

LATEST TRENDS

"Increase in Demand for Product Surge Market Growth"

The GPS positioner market owns a market share of about 2.0394 billion in 2021 and continues to grow at an impressive CAGR value of 11.2%. It is highly expected that with the help of lucrative marketing strategies and steady financial support, market will surely prosper. Moreover, as more and more regions are getting interconnected will each other, public awareness of the product increases significantly leading to higher product sales. Furthermore, with the incorporation of modern technological assets, the respected market is anticipated to produce advanced products which yields extraordinary results, leading to enhanced market development.

GPS Positioner Market SEGMENTATION

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• By Type

The market categorizes into Independent Positioner and Advanced Positioner.

In terms of product, Independent Positioner is the largest segment.

• By Application

The market categorizes into Vehicle, Items, Person, Pet and Others.

In terms of application, the largest application is Vehicle, followed by Person, Items, Pet, etc.

DRIVING FACTORS

"Increase in GPS-Enabled Vehicles and Penetration of Mobile Phones Market Growth"

One of the major factors that substantially contributes towards the development of the GPS positioner market is the sudden surge in demand of GPS-Enabled products or devices in both regional as well as global markets. Another supporting factor is the high demand as well as high production of GPS-enabled vehicles which supports market growth by increasing product sales.  

Increase in Use of Smart Phone and High Number of Mergers and Acquisitions to Drive Market Development

Due to the significant surge in use of social media by people falling under all types of age categories across developing countries with considerable amount of numerous mergers and acquisitions between component manufacturers and integrators rooted around various areas also poses as one of the root cause for the growth of the global positioning systems market.

RESTRAINING FACTORS

"Lack of Network Infrastructure and Some Facilities in Underdeveloped Areas Hampers Market Growth"

Some of the major restrainers leading to the derailed development of the respected market includes lack of optimum network infrastructure and technical facilities in underdeveloped and remote regions. In addition, accuracy of location also tends to serve as a hindering market growth. Moreover, clock inaccuracy and orbit shift of satellites are likely to pose as major technical challenges that are expected to decline GPS usage, which leads to obstructed market advancement. Also, licensing, strict rules, and regulations are some other minor factors affecting global GPS positioner market growth.

GPS Positioner Market REGIONAL INSIGHTS

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"Europe to Rule the Market Owing to High Production Rate"

Europe is anticipated to rule the GPS positioner market because of the presence of high number of manufacturing centers leading to enhanced production rates. Europe owns 35% of the total global GPS positioner market share. Not just the existence of high amount of manufacturing units leads Europe to be the largest market but also the fact that Europe houses a great working force which completely meets the required working strength for the optimum functioning of the market, resulting in enhanced market growth. As an added advantage, Europe has amazing relations and networks which facilitates transportation processes and aids in increasing product sales, bolstering.

KEY INDUSTRY PLAYERS

"Key Market Faces to Focus on Market Development"

The key market players are anticipated to take a firm approach towards the further development of market which includes market expansion as well as product enhancement. One of the major solution towards this problem is expected to be increasing advancement in technology. With the adoption and incorporation of these modern technological assets to the current working style will not only bolster working standards but also will help in improving product quality. As a result, market upliftment is experienced due to increased product sales all around the world. Some major key players includes Concox Information Technology Co.,Ltd., CalAmp, Queclink, and others.

List of Market Players Profiled

• Concox Information Technology Co.,Ltd. (China)
• CalAmp (U.S.)
• Tomtom (Netherlands)
• Queclink (China)
• Teltonika (Lithuania)
• Meitrack (China)
• Orbocomm (U.S.)
• Eelink (China)
• Sierra Wireless (Canada)
• Hefei Shangrui Information Technology Co.,Ltd. (China)
• ARKNAV International Inc. (Taiwan)
• Suntech (China)
• Ruptela (Lithuania)

REPORT COVERAGE

This report effectively briefs its readers about the crucial market characteristics of GPS positioner market during the forecast period of 2022-28. Features such as market drivers, restrainers, opportunities, risks, as current market trends, consumer behavior, industry relations, and industrial patterns are discussed quite thoroughly in this market report aiding its readers to gain a clearer and wider insight regarding the respected market. Segmentation analysis of the respective market on the basis of type, application and region have also been brilliantly highlighted. Furthermore, details pertaining to the major manufacturing companies of the GPS positioner market is also efficiently covered.