Key Insights Revealed in Latest Research on Mid and High-Level Precision GPS Receiver Market

The Mid and High-Level Precision GPS Receiver Market Size is expected to reach USD 5.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.8% from its estimated USD 3.4 billion in 2024.

Pune, 28/05/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

The Mid and High-level Precision GPS Receiver Market Size is expected to be worth USD 3.4 billion in 2024, according to the analysis, and predictions indicate that it will rise significantly to USD 5.2 billion by 2029. This growth trajectory highlights the market's significant potential for expansion, with a strong Compound Annual Growth Rate (CAGR) of 8.8% from 2024 to 2029. A number of important variables, such as type (differential grade, survey grade), functional deployment (navigation, surveying, and mapping), frequency type (single, dual, triple), and end-user industry, are used to segment the mid- and high-level precision GPS receiver market. A thorough grasp of the market dynamics is provided by this kind of thorough segmentation, which empowers stakeholders to make defensible choices.

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The Mid and High-Level Precision GPS Receiver Market is expanding significantly due to a number of important considerations. One of the main forces behind this is the explosion of urban expansion in emerging nations, where effective infrastructure design and management depend heavily on accurate positioning and navigation systems. Furthermore, the agricultural industry is adopting GPS receivers at a faster rate due to the increased knowledge of precision agriculture techniques, which allow farmers to maximise crop yields and resource utilisation by using exact positional data. Moreover, automation is spreading in a number of industries, such as logistics, construction, and transportation, which is driving up need for precise and dependable GPS receivers.

The surveying and mapping segment is expected to dominate in the forecasted period.

Global activities targeted at infrastructure development and urban expansion will propel the surveying and mapping segment's growth in the near future. Accurate surveying and mapping techniques are in greater demand globally as initiatives like urban planning, transportation infrastructure, and environmental monitoring become more and more important. GPS receivers are essential to the surveying and mapping process because of their capacity to deliver accurate positional data. With the use of these receivers, surveyors and mapping experts may gather precise geospatial data, which makes it easier to plan, develop, and carry out major infrastructure projects. Stakeholders can guarantee the precision and effectiveness of surveying and mapping tasks by utilising GPS technology, which will enhance project outcomes and optimise resource utilisation.

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The construction segment is anticipated to dominate during the forecast period.

With a number of important aspects influencing the business landscape, the construction segment is expected to continue to dominate the market during the forecast period. The increasing use of autonomous technology, which has transformed construction methods and improved productivity for a variety of activities, is one important motivator. Construction businesses are increasingly utilising high-precision GPS receivers to optimise resource utilisation and expedite processes, thanks to improvements in automation and robots. In addition, increased urbanisation patterns across the globe have sparked an increase in infrastructure development initiatives, encompassing anything from residential complexes to transportation systems and commercial structures. Accurate geospatial data is becoming increasingly important for construction projects as nations work to modernise and accommodate their expanding urban populations. 

North America to dominate the mid and high-level precision GPS receiver market during the forecast period.

Leading firms in the mid- and high-precision GPS receiver industry, including Trimble, Inc., Hemisphere GNSS, Inc., Javad GNSS Inc., and Geneq, Inc., have their headquarters in North America. The dynamic geography of the region includes a wide range of sectors, from construction to oil and gas, all of which use mid- and high-precision GPS receivers for different purposes. The growing need for GPS receivers in precision farming applications is one significant factor propelling the market's expansion in North America. Farmers around the region are increasingly resorting to precision agriculture solutions to boost production and optimise resource utilisation as a result of the introduction of cutting-edge agricultural technologies including yield monitoring, auto-steering, and field mapping. Furthermore, a major factor propelling market expansion in the area is the broad use of autonomous systems in sectors like mining, agriculture, and construction. Mid- and high-precision GPS receivers are essential for enabling autonomous operations and improving operational efficiency in fields where accuracy and precision are crucial, such as mining operations and building site planning. The demand for sophisticated GPS receiver solutions is anticipated to increase in North America in the upcoming years due to this trend towards automation and autonomy.

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Mid and High-Level Precision GPS Receiver Companies:

• Trimble Inc. (US),
• Topcon (Japan),
• Hexagon AB (Sweden),
• Hemisphere GNSS Inc. (US),
• Javad GNSS (US),
• Geneq (Canada),
• South Surveying & Mapping Technology Co. Ltd. (China),
• Septentrio (Belgium),
• CNH Industrial N.V. (UK),
• Comnav Technology Ltd. (China),
• Fieldbee (Netherlands),
• Nordson Corporation (US),
• Magellan Systems Japan, Inc. (Japan),
• AvMap S.R.L (Italy),
• Hi-Target (China),
• Geosolution i Göteborg AB. (Sweden),
• Quectel Wireless Solutions Co., Ltd. (China),
• Spectra Geospatial (US),
• Shanghai Huace Navigation Technology Ltd (China),
• Collins Aerospace (US),
• RTX (US),
• Müller-Elektronik GmbH. (Germany),
• New Holland Agriculture. (Italy),
• Ag Leader Technology (US),
• Terasus GNSS Inc. (Australia).

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