The usage of Global Positioning System (GPS) in the Automobile industry has witnessed a rapid growth in the last few years. The demand for navigation systems, emergence of low cost in-dash navigation devices coupled with aggressive price reduction by the market players are the factors driving the growth of GPS in the Automobile industry.
Integration of Location Based Services (LBS) with navigation and the under penetration rate of in-dash navigation systems offers a huge growth opportunity for the GPS market in this industry. Further, the completion of GPS modernization programme undertaken by the US and full operationalization of the various Global Navigation Satellite Systems (GNSS) is forecast to greatly enhance the precision level of the GPS technology. This could pave a way for the widespread use of GPS in various industries, including the Automobile industry.
Technological innovation has led to the improvement of the GPS technology, thus leading to improvements in the accuracy and reliability of the GPS systems. Positioning systems are moving towards hybrid location technologies to offer greater accuracy levels. These hybrid solutions combine assisted-GPS with other location positioning technologies, to offer more accurate positioning information. As navigation requires accurate positioning information, the improvement in GPS technology is driving the growth of GPS in the Automobile industry.
The report by TechNavio Insights forecasts the size of the global positioning system (GPS) market in automobile industry over the period 2008-2012. It segments the market into three geographic regions: Americas, APAC and EMEA, representing the market size and forecast for each of these regions. Further, it discusses the key market trends, drivers and challenges of the global positioning system (GPS) market in automobile industry and profiles some of the key vendors of this industry.