$ 83.08 Million Growth in Global GPS Market | Europe will occupy 30% of global market share | Technavio |

0


NEW YORK, December 21, 2021 / PRNewswire / – The global GPS market will experience maximum growth in Europe during the forecast period. Growing demand for commercial, electric and hybrid vehicles is encouraging automakers to Europe invest in the creation of new manufacturing plants. For example, in November 2021, Volkswagen announced its intention to build a new state-of-the-art automotive plant near its global headquarters in Wolfsburg, Germany. With the new plant, the company is expected to increase its production capacity by around 250,000 cars per year. Many such expansion plans, coupled with the increased adoption of the latest automotive technologies, are generating significant revenues in the GPS market by Europe.

Discover growth opportunities in various geographies by purchasing our full report.

Start by downloading a free sample

One of the main growth drivers of this market is the increasing investment in the deployment of satellites. Furthermore, factors such as increasing demand for personal and corporate navigation services and increasing investments in LTE networks will have an accelerating effect on market growth during the forecast period. However, connectivity issues with GPS, fleet management system security issues, and poor navigation data accuracy and reliability will challenge the growth of the market.

Technavio expects the global GPS market size to grow by $ 83.08 million between 2021 and 2026. However, the growth momentum is expected to slow to a CAGR of 17.98% during the forecast period.

GPS Market: Segment Highlights

  • By application, the report segments the global GPS market by logistics and transportation, construction and mining, etc.
  • The adoption of GPS solutions is maximum in the logistics and transport sector.
  • Market growth in logistics and transportation segment will be significant during the forecast period.

Regional analysis

  • 30% of the growth will come from the European region.
  • The region will generate maximum income and growth opportunities for market vendors during the forest season.
  • Market growth in Europe is driven by the increase in vehicle production and the introduction of strict regulatory standards.
  • Germany and France are the key markets for GPS in Europe.
  • Market growth in this region will be slower than market growth in other regions.

Get highlights on major revenue generating segments, regions and key countries of the Global GPS Market.

Download a Free Sample Report Now!

Remarks:

  • The size of the GPS market is expected to decelerate to a CAGR of 17.98% during the forecast period.
  • The GPS market is segmented by application (logistics and transportation, construction and mining, and others) and geography (Europe, North America, APAC, MEA and South America).
  • The market is fragmented due to the presence of many established suppliers holding a significant market share.
  • The research report provides information on several market vendors including Avidyne Corp., Broadcom Inc., Garmin Ltd., Hexagon AB, MiTAC Digital Technology Corp., Qualcomm Inc., Raytheon Technologies Corp., Texas Instruments Inc., TomTom International BV, and Trimble Inc.

Subscribe to our “Lite Package” billed annually at 3000 USD which allows you to download 3 reports / year and view 3 reports / month

Associated reports:

GPS Trackers Market by End User and Geography – Forecast and Analysis 2021-2025

Digital Map Market by Application, Use, and Geography – Forecast and Analysis 2021-2025

Scope of the GPS market

Cover of the report

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth dynamics and CAGR

Deceleration to 17.98% CAGR

Market growth 2022-2026

$ 83.08 million

Market structure

Fragmented

Annual growth (%)

19.29

Regional analysis

Europe, North America, APAC, MEA and South America

Efficient contribution to the market

Europe at 30%

Main consumer countries

United States, Germany, France, China and Japan

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Avidyne Corp., Broadcom Inc., Garmin Ltd., Hexagon AB, MiTAC Digital Technology Corp., Qualcomm Inc., Raytheon Technologies Corp., Texas Instruments Inc., TomTom International BV and Trimble Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Us

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio research

Jesse maida

Communication and Marketing Officer

United States: +1 844 364 1100

United Kingdom: +44 203 893 3200

E-mail: [email protected]

Website: www.technavio.com/

View original content to download multimedia: https://www.prnewswire.com/news-releases/usd-83-08-mn-growth-in-global-gps-market–europe-to-occupy-30- global- market share-technavio-301448244.html

SOURCE Technavio


Share.

About Author

Comments are closed.