Frequency Matters: Understanding the Spectrum of Mid and High-Level Precision GPS Receiver Market
The expected growth in the global mid- and high-level precision GPS receiver market is highlighted in the report "Mid- and High-Level Precision GPS Receiver Market Size by Type (Differential Grade, Survey Grade), Functional Deployment (Navigation, Surveying and Mapping), Frequency Type (Single, Dual, Triple), End-user Industry and Region - Global Forecast to 2029". At a compound annual growth rate (CAGR) of 8.8%, the market is expected to grow from USD 3.4 billion in 2024 to USD 5.2 billion by 2029. The increasing need for high-precision mapping and navigation solutions across a range of industries, including defence, construction, and agriculture, is what is fueling this rise. GPS technology advancements like multi-frequency receivers are increasing precision and dependability, which is driving market growth even more. Furthermore, it is anticipated that the growing use of precision GPS in mapping and surveying applications would have a major impact on market expansion. The report emphasises how crucial it is to keep developing and investing in GPS technology in order to satisfy the changing demands of end-user industries.
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A number of important factors, such as the automation of numerous sectors, the growing urban developments in emerging economies, and the growing awareness of precision agriculture, are propelling the expansion of the Mid and High-Level Precision GPS Receiver Market. Accurate mapping and navigation solutions are in high demand as cities grow and infrastructure projects multiply. The practice of precision agriculture is also becoming more popular, as farmers want to utilise cutting-edge GPS technology to maximise yields and resource efficiency. In addition, the need for high-precision GPS receivers is increasing due to automation in industries including manufacturing, shipping, and construction. Notwithstanding, the market is confronted with obstacles like security apprehensions in crucial applications and the gradual adoption of novel technologies, which may impede its expansion.
The surveying and mapping segment is expected to dominate in the forecasted period.
The surveying and mapping segment is poised for continued growth in the coming years, driven by the global emphasis on infrastructure development. Urban planning, transportation projects, and environmental monitoring all require accurate surveying and mapping tools to ensure successful implementation. GPS receivers are essential in this process, providing precise geospatial data that aids in the planning and execution of large-scale infrastructure projects. This demand is fueled by the need for detailed and accurate information to support the construction of roads, bridges, buildings, and other critical infrastructure. As countries invest in upgrading and expanding their infrastructure, the role of GPS receivers in surveying and mapping becomes increasingly vital, solidifying their importance in the market.
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The construction segment is anticipated to dominate during the forecast period.
The construction segment is expected to dominate the market in the forecast period, fueled by the rising adoption of autonomous technology, increased urbanization, and substantial investments in infrastructure development by numerous countries. The rapid pace of urbanization and the surge in infrastructure projects globally have significantly amplified the demand for precise geospatial data in construction activities. High-precision GPS receivers have become indispensable tools for critical tasks such as site planning, grading, and surveying, ensuring accuracy and efficiency in construction processes. This increased reliance on high-precision GPS technology underscores the construction segment's prominence and its pivotal role in driving market growth.
North America to dominate the mid and high-level precision GPS receiver market during the forecast period.
North America is home to several prominent companies in the mid and high-precision GPS receiver industry, including Trimble, Inc., Hemisphere GNSS, Inc., Javad GNSS Inc., and Geneq, Inc. The region boasts diverse industries, such as oil and gas and construction, where mid and high-precision GPS receivers are extensively utilized. Moreover, the market in North America is witnessing growth driven by the increasing demand for GPS receivers in precision farming applications, such as auto-steering, yield monitoring, and field mapping. Additionally, the adoption of autonomous systems across various sectors like construction, mining, and agriculture is a significant factor contributing to the expansion of the market in North America. This combination of factors underscores the region's leading position in driving innovation and growth in the mid and high-precision GPS receiver market.
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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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