The global Positioning System (GPS) market was valued at around US $86.95 BN in 2022 and is expected to reach US $306.45 BN by 2030 with a CAGR of 16.10% during the forecast period.
The Global Positioning System (GPS) refers to a space-based global navigation satellite system which provides accurate information regarding timing and location in all-weather situations, anywhere on or near the Earth where more GPS satellites are visible. The system consists of a network of satellites orbiting the Earth, ground stations, and receivers. The GPS system provides accurate positioning information in three dimensions: latitude, longitude, and altitude. It has become an essential tool for navigation, mapping, surveying, and various other applications. In addition to civil use such as shipping, road transportation, rail transportation, surveying and mapping, heavy vehicle guidance, social activities, financial services, and others, GPS is crucial for military operations, scientific research, and emergency services.

The Positioning System (GPS) industry has attracted significant investment and funding from both traditional companies and new entrants, including technology companies and startups. This financial support indicates a high level of interest and commitment to further developing this technology. For instance, in 2022, a United Kingdom based startup, FocalPoint, which is involved in the development of software to improve operations, accuracy and security of GPS raised an amount worth £15 million ($17 million), part of a Series C round. The major aim of this funding is to continue rolling out the first commercial deployments of its system with early clients and continuing to expand its technology, which is currently compatible with 4G and will eventually operate with 5G and Wi-Fi.

The technology can be used to improve GPS security generally, assist businesses with their fleet management or transportation navigation services, and provide more precise location for smartphone apps that track location (e.g., for running and other sports). Also, in 2021, Iridium Communications Inc. announced a strategic investment in DDK Positioning (DDK), a supplier of improved Global Navigation Satellite System (GNSS) accuracy solutions. By augmenting GNSS constellations, such as GPS and Galileo, with global precision location services, DDK makes use of the Iridium® network to dramatically improve their accuracy for crucial industrial applications. Similar services are also being developed by DDK for other GNSS constellations, including GLONASS and Beidou. The investment's terms were not made public by the company.

Drivers

Increasing demand for IoT, big data, 4G and 5G and cloud technology 

The GPS tracker systems are now being developed with modern technology such as IoT and cloud-based technology. These technologies allow it to serve a range of applications. GPS trackers have electronics and internet connectivity built right into them, which turns the data into things and gadgets with cloud connectivity. Using cloud and Internet of Things based technology, these systems may be remotely controlled and communicated with one another. As a result, the market is expanding due to the rising demand for cloud and IoT technologies. Also, market players active in the industry across the globe are developing and launching a range of products and services integrated with GPS, catering to the requirements of the customers. For instance, in 2023, KINEXON, a top player of real-time player tracking solutions, unveiled a GPS-based player tracking system, KINEXON PERFORM GPS Pro, for coaches in football, soccer, and other outdoor team sports. In contrast to similar well-known GPS tracking devices, KINEXON PERFORM GPS Pro has the ability to stream real-time data straight to the Amazon Cloud.

This makes it possible for several people to access the data simultaneously, even from a distance. Also, in 2023, Jimi IoT announced the launch of the VL101G INS-Aided IP66-Rated Vehicle Tracker. With dual-frequency GPS and GNSS positioning technology, this 4G car tracker is made to deliver precise positioning and real-time location for a variety of applications. With its LTE communication and GSM (2G) fallback, the VL101G guarantees a strong connection even in places with spotty signal strength. The inertial navigation system (INS) is a great tool for fleet management since it gives precise movement data about the vehicle. In addition, the VL101G's remote engine cut-off, ignition detection, and driving behaviour analysis capabilities make it an invaluable asset to any fleet management plan. Moreover, in 2022, Bharti Airtel unveiled its "Always On" IoT connection solution, which facilitates GPS-based vehicle tracking. Ambulances and other emergency vehicles can maintain constant tracking and safety by connecting via many mobile network operators with the use of the Internet of Things solution. The function, which connects an Internet of Things device to a network using an electronic SIM (eSIM), complies with the road ministry's necessary standards for device connectivity and GPS tracking capabilities.

Challenges

Stringent Licensing Regulations

The increasing need for cutting-edge technologies across multiple industries has prompted major businesses to allocate funds into GPS technology. But the rising demand for the technology has made user licencing challenging, which is impeding industry expansion. The International Civil Aviation Organisation (ICAO), the International Telecommunication Union (ITU), the European Aviation Safety Agency (EASA), the Federal Communications Commission (FCC), the National Marine Electronics Association (NMEA), and the European Telecommunications Standards Institute (ETSI) standards are a some of the major regulatory bodies. The licensing regulations for GPS are primarily associated with the operation of GPS devices and the use of GPS technology in various applications. This is likely to hamper he market growth during the forecast period.

Trends

Increasing Demand for GPS-Enabled Wearable Devices

The development of GPS enabled wearable devices such as smart watches, fitness trackers, clothes, shoes and others are gaining popularity across the globe owing to surge in the disposable income, increasing preference of consumers for convenience, and rising awareness regarding health and fitness. Wearable technologies are revolutionising the fitness industry with the introduction of fitness tracking bands. Fitness trackers are more popular because they make it easier for users to stay motivated, set daily objectives, get the most out of their workouts, and keep track of their fitness. It is anticipated that smart watches will see a significant increase in popularity in the next years. The medical and healthcare sectors are using GPS-enabled tracking devices. In a similar way, body weight, body temperature, and heart rates are monitored by wearable health monitors.

In 2023, COROS Wearables Inc. developers of GPS enabled sports wearables as well as training software for multi-sport athletes, unveiled PACE 3, which is its latest performance-focused sport wearable. Even in the most difficult situations, such as densely populated areas or high altitudes, a revised All Systems satellite chipset with an optional Dual Frequency is capable to maintain the accuracy of the GPS data. PACE 3 optimises wrist time and reduces charging time with a longer battery life of 38 hours of continuous GPS monitoring or 24 days of continuous daily use. Also, in 2022, ProteGear.com, which is a German IT/GPS tracking specialist company, and GTX Corp, a player in location-based wearable GPS human and asset tracking systems, announced their collaboration to launch the most recent iteration of the GPS SmartSole product, which is based upon LTE Cat M1 technology. The most well-known and award-winning product from GTX is the SmartSole, a seamless wearable with GPS functionality that is intended for individuals with cognitive problems like dementia, Alzheimer's, traumatic brain injury, and autism. Embedded into the wearer's shoes, they have a cutting-edge Nordic GPS module that communicates with the GTX central monitoring website and app via cellular networks.

COVID -19 Impact on Positioning System (GPS) Market

The COVID-19 pandemic has had a significant impact on the use and development of GPS technology across different sectors. Lockdowns, travel restrictions, and remote work arrangements during the pandemic led to significant changes in transportation patterns. This affected the use of GPS for navigation and location-based services. While demand for navigation in personal vehicles remained, the use of GPS for public transportation and ride-sharing services experienced a decline. With limitations on indoor activities and gyms, there was an increased interest in outdoor activities such as running, cycling, and hiking. GPS-enabled wearables and fitness devices saw a surge in popularity as people turned to these activities for exercise and recreation during lockdowns.

The increase in online shopping and reliance on e-commerce during lockdowns heightened the importance of GPS in last-mile delivery services. GPS played a critical role in optimizing delivery routes and providing real-time tracking for packages. Moreover, governments across the globe developed smartphone applications to monitor citizens' movements within their own nations. For instance, the AarogyaSetu app, developed by the Indian government, makes use of both Bluetooth and GPS technology. Similarly, in order to help track impacted individuals and stop the spread of virus, the Irish government set up a tracker and contact tracing software. As a result, during the pandemic, GPS technology witnessed an immense growth. After COVID-19, the market is predicted to expand at the same rate. Hence, COVID-19 pandemic had a positive impact on the global Positioning System (GPS) industry.

Positioning System (GPS) Market Segmentation

By Deployment

Based on deployment, the global Positioning System (GPS) market is bifurcated into Standalone tracker, Portable Navigation Devices, Automotive Telematics Systems, Consumer Devices, Others. Consumer Devices segment is expected to dominate the market in the forecast period owing to the proliferation of tablets, smartphones, and PCs across the globe. It accounted for the market share of about 41.25% in 2022. The use of GPS technology in consumer electronics like tablets and smartphones is growing. It's also found in other gadgets like standalone trackers, handheld navigation, and car telematics. Additionally, fleet positioning data is transmitted via GPS technology using onboard units (OBUs) to help transport operators track logistics performance activities. Hence, such factors are expected to supplement the market growth of the segment during the forecast period.

By Application

Based on application, the global Positioning System (GPS) market is bifurcated into Road, Aviation, Marine, Location Based Services, Surveying & Mapping, Others. The Location Based Services accounted for the largest share of the market in 2022, accounting for about 40.21% of the share, and is expected to dominate the market during the forecast period. The increasing adoption of location-based services such as e-hailing and e-commerce services are expected to contribute towards the growth of the segment during the forecast period. Also, the need for location-based services is predicted to increase as companies increasingly use smart technologies like beacons, GPS, and RFID to collect location-based data. Additionally, the information is utilised to target clients through the use of customised emails and SMS ads. GPS-enabled cell phones gather location data from users, including the location of stores they frequently visit to shop. This information aids companies in analysing consumer trends and behaviour, which in turn helps them create more effective marketing campaigns and enhance customer satisfaction.

By Region

North America, Europe, Asia Pacific, the Middle East & Africa, and South America are the five regions that make up the worldwide Positioning System (GPS) market. North America region captures the largest market share of about 34.82% and witness the CAGR of about 13.34% in the forecast period. The dominance of North American region is due to the high adoption of GPS in the aerospace and military industries, as well as the large presence of system integrators and component manufacturers such as Qualcomm Inc., Broadcom Inc., and Hexagon AB. In addition, a high smartphone penetration rate, smart technologies, and the availability of sophisticated network infrastructure are anticipated to support the growth of the GPS industry in North America during the forecast period.

During the forecast period, Asia Pacific is expected to experience the highest CAGR of about 16.75% owing to factors such as growing number of online food delivery, e-commerce, and cab services across the region. In addition, the market is anticipated to have a significant expansion due to the growing use of social media platforms and in-store analytics, particularly in developing countries such as China, Malaysia, Australia, and India. During the forecast period, it is anticipated that the expanding use of smartphone applications, rising investments in the construction of network infrastructures, and expanding availability of reasonably priced internet services would propel market expansion in the Asia Pacific region.

Positioning System (GPS) Competitive Landscape

The competitive landscape of the Positioning System (GPS) market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players in the market are undertaking a range of strategies such as collaboration, mergers & acquisitions, and strategic partnerships, in order to increase the product portfolio, expand the geographical presence, and enhance the product features. The companies are also making huge investments in the research and development activities. This is expected to aid market players in developing and launching new products, which is expected to have a positive impact on the market growth.

The Positioning System (GPS) market is highly competitive, with numerous companies vying for market share. Prominent companies in the Positioning System (GPS) Market include:

Major Players:

• ATrack Technology Inc.
• Broadcom
• Calamp
• Collins Aerospace
• Garmin Ltd.
• Geotab Inc.
• Hexagon AB
• Laird
• Meitrack Group
• Orbocomm
• Qualcomm Technologies, Inc.
• Queclink Wireless Solutions Co., Ltd.
• Shenzhen Concox Information Technology Co. Ltd.
• Sierra Wireless
• Teltonika
• Texas Instruments Incorporated
• Tomtom International BV
• Trackimo
• Trimble Inc.
• Verizon
• Others

Recent Developments in the Positioning System (GPS) Market

• April 2022: 53 Starlink satellites were sent into low-Earth orbit by SpaceX from Florida's Space Launch Complex 40 (SLC-40). Launch vehicles for GPS III Space Vehicles 04 and 05, Inspiration 4, Ax-1, and one Starlink mission have already been carried out using the mission's first stage rocket.
• October 2022: The next generation construction smart antenna, the Leica iCON GPS 160, was greatly improved and released by Leica Geosystems, a branch of Hexagon. It has excellent capabilities that can increase productivity in all stakeout and measurement applications on the job site.
• January 2021: The complete acquisition of GEOS Worldwide Limited and its subsidiaries was announced by Garmin Ltd. divisions Garmin® International and Garmin Services. The central command centre for SOS rescue operations initiated by Garmin's inReach® personal satellite communicators is the International Emergency Response Coordination Centre (IERCC). Emergency monitoring and incident response services are provided by privately held GEOS Worldwide, a leader in the field.
• January 2020: BAE Systems announced its plans to acquire the Airborne Tactical Radios business from Raytheon and the Military Global Positioning System business from Collins Aerospace.

Positioning System (GPS) Market Scope

Table of Contents

1. Executive summary
2. MARKET INTRODUCTION
   • MARKET SCOPE
   • MARKET Definitions
3. research methodology
4. market outlook
   • Key Trends
   • GUIDELINES / REGULATIONS
   • COVID- 19 IMPACT ON GLOBAL POSITIONING SYSTEM (GPS) MARKET
   • MARKET DYNAMICS
     • Drivers
       • Surging Requirement Across the End Users
       • Growing popularity of GPS technology for various applications
       • Surging use of social media across developing countries
       • Increasing demand for IoT, big data, 4G and 5G and cloud technology
     • Restraints
       • Network and Technological Issues
       • Stringent Licensing Regulations
     • Opportunities
       • Supportive government regulations
       • Increasing focus towards safety and security
     • Challenges
       • Poor network infrastructure availability in the rural areas
       • Clock inaccuracy and the orbital shift of satellites
     • PORTER’S FIVE FORCE MODEL
       • Threat of new entrants
       • Threat of substitute
       • Bargaining power of suppliers
       • Bargaining power of buyers
       • Intensity of competitive rivalry

5. GLOBAL POSITIONING SYSTEM (GPS) MARKET, By deployment, MARKET ESTIMATION AND FORECAST, 2023-2030), value (USD million)
   • INTRODUCTION
   • MARKET SHARE ANALYSIS
   • Standalone tracker
   • Portable Navigation Devices
   • Automotive Telematics Systems
   • Consumer Devices
   • Others
6. GLOBAL POSITIONING SYSTEM (GPS) MARKET, BY application, MARKET ESTIMATION AND FORECAST, 2023-2030, value (USD million)
   • INTRODUCTION
   • MARKET SHARE ANALYSIS
   • Road
   • Aviation
   • Marine
   • Location Based Services
   • Surveying & Mapping
   • Others
7. GLOBAL POSITIONING SYSTEM (GPS) MARKET, REGIONAL ANALYSIS MARKET ESTIMATION AND FORECAST, 2023-2030, value (USD million)
   • INTRODUCTION
   • NORTH AMERICA POSITIONING SYSTEM (GPS) MARKET
     • North America Positioning System (GPS) Market, By Country
       • US
       • Canada
       • Mexico
     • North America Positioning System (GPS) Market, By Deployment
     • North America Positioning System (GPS) Market, By Application
   • EUROPE POSITIONING SYSTEM (GPS) MARKET
     • Europe Positioning System (GPS) Market, By Country
       • Germany
       • UK
       • France
       • Italy
       • Spain
       • Nordic
       • Rest of Europe
     • Europe Positioning System (GPS) Market, By Deployment
     • Europe Positioning System (GPS) Market, By Application
   • ASIA PACIFIC POSITIONING SYSTEM (GPS) MARKET
     • Asia Pacific Positioning System (GPS) Market, By Country
       • China
       • Japan
       • India
       • Australia
       • ASEAN
       • South Korea
       • Rest of Asia Pacific
     • Asia Pacific Positioning System (GPS) Market, By Deployment
     • Asia Pacific Positioning System (GPS) Market, By Application
   • MIDDLE EAST & AFRICA POSITIONING SYSTEM (GPS) MARKET
     • Middle East & Africa Positioning System (GPS) Market, By Country
       • UAE
       • Saudi Arabia
       • South Africa
       • Rest of Middle East & Africa
     • Middle East & Africa Positioning System (GPS) Market, By Deployment
     • Middle East & Africa Positioning System (GPS) Market, By Application
   • SOUTH AMERICA POSITIONING SYSTEM (GPS) MARKET
     • South America Positioning System (GPS) Market, By Country
       • Brazil
       • Argentina
       • Rest of South America
     • South America Positioning System (GPS) Market, By Deployment
     • South America Positioning System (GPS) Market, By Application

8. GLOBAL POSITIONING SYSTEM (GPS) MARKET, COMPETITIVE Intelligence
   • COMPETITIVE POSITIONING
   • competitor benchmarking
   • COMPETIVE QUADRANT
   • market share analysis, 2022 (%)
9. GLOBAL POSITIONING SYSTEM (GPS) MARKET, COMPANY ANALYSIS
   • ATrack Technology Inc.
     • Company Overview
       • Business outlook
       • Headquarter
       • Established/Incorporated
       • Headcounts/ Employee strength
     • Financial Overview
       • Sales/revenue
       • R&D expenditure
       • Business segment sales share
       • Regional sales share
     • Product Offerings
     • SWOT Analysis
     • Key Developments (Expansion/New Product Development/Agreement/Mergers & Acquisitions, Partnership/Investment/Etc.)
   • Broadcom
   • Calamp
   • Collins Aerospace
   • Garmin Ltd.
   • Geotab Inc.
   • Hexagon AB
   • Laird
   • Meitrack Group
   • Orbocomm
   • Qualcomm Technologies, Inc.
   • Queclink Wireless Solutions Co., Ltd.
   • Shenzhen Concox Information Technology Co. Ltd.
   • Sierra Wireless
   • Teltonika
   • Texas Instruments Incorporated
   • TomTom International BV
   • Trackimo
   • Trimble Inc.
   • Verizon
   • OTHERS

*Financials and Details May Not be Included in Case of Privately Held Company

Global Positioning System (GPS) Market Segmentation   

Positioning System (GPS) by Deployment: Market Size & Forecast 2023-2030

• Standalone Tracker
• Portable Navigation Devices
• Automotive Telematics Systems
• Consumer Devices
• Others

Positioning System (GPS) by Application: Market Size & Forecast 2023-2030

• Road
• Aviation
• Marine
• Location Based Services
• Surveying & Mapping
• Others

Positioning System (GPS) by Geography: Market Size & Forecast 2023-2030

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Spain, Nordic, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia Pacific)
• South America (Brazil, Argentina, Rest of South America)
• Middle East and Africa (UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa)

Major Players:

• ATrack Technology Inc.
• Broadcom
• Calamp
• Collins Aerospace
• Garmin Ltd.
• Geotab Inc.
• Hexagon AB
• Laird
• Meitrack Group
• Orbocomm
• Qualcomm Technologies, Inc.
• Queclink Wireless Solutions Co., Ltd.
• Shenzhen Concox Information Technology Co. Ltd.
• Sierra Wireless
• Teltonika
• Texas Instruments Incorporated
• Tomtom International BV
• Trackimo
• Trimble Inc.
• Verizon
• Others