The global mid- and high-level precision GPS market is expected to be worth USD 3.09 billion by 2022

(IT-NEWSWIRE.COM, April 13, 2017 ) The global mid- and high-level precision GPS market is expected to be worth USD 3.09 billion by 2022, growing at a CAGR of 16.36% between 2015 and 2020. The growth of this market is driven by ongoing developments to improve the overall GPS infrastructure, availability of more cost-effective GPS solutions, and technological advancements in GPS augmentation.

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GPS augmentation, micro-technology for positioning, navigation, and timing (micro-PNT), and adaptable navigation systems (ANS) are the latest developments in mid- and high-level precision GPS market and expected to be more demanding in the near future.

The mid- and high-level precision GPS market for survey grade is expected to grow at the highest rate during forecasted period. The major factors driving this market for survey grade include high accuracy and reliability. Companies can leverage this market opportunity by investing in R&D, offering cost-effective solution as the current market of survey grade is low because of expensive solutions.

The mid- and high-level precision GPS market for the mining application is expected to grow at the highest rate during the forecast period. Most of the developing countries, such as South Africa, Chile, Peru, Brazil, Colombia, and few others from Central Asia and Eastern Europe, have started adopting the GPS technology for mining applications. Mining is regarded as a risky, highly unsafe, and accident-prone industry.

At the same time, search and rescue teams started using GPS position information to create maps of the disaster areas for rescue and aid operations as well as to help assess damage. Companies have a huge opportunity for growth in the future because of the increasing demand for such applications in optical survey instruments for mining-related activities.

One of the objectives of the report was to analyze the market trends for all the segments of the mid and high level precision GPS receiver market along with, forecasting their respective growth rates. Apart from market segmentation, the report also provides an in-depth analysis such as the Porters’ Five Forces analysis, in addition to illustrating the supply chain with a detailed process flow diagram, and market dynamics Market dynamics includes drivers, restraints, and opportunities for the medium and high level precision GPS receiver market; analyzing and listing the several factors that positively and negatively affect each section of the market considered in this research study. The impact of the major factors on the global market for mid and high level precision GPS has also been provided under drivers, restraints, and opportunities.

Some of the key players in this market include Hemisphere GNSS, Inc. (U.S.), eRide, Inc. (U.S.), NavCom Technology, Inc. (U.S.), NovAtel Inc. (Canada), Trimble Navigation Ltd. (U.S.), CHC Technology Co., Ltd. (China), Altus Positioning Systems (U.S.), Javad GNSS, Inc. (U.S.), Beijing UniStrong Science & Technology Co., Ltd. (China), Topcon Positioning Systems Inc. (U.S.), Leica Geosystems, Inc. (U.S.), and Septentrio Satellite Navigation NV (Belgium).

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The mid- and high-level precision GPS market in the RoW region is expected to grow at highest CAGR during 2015–2020. There has been a rise in the flow of money entering into the countries from this region in the form of FDIs and other foreign investments.

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The global mid- and high-level precision GPS market is expected to be worth USD 3.09 billion by 2022