Global Positioning Systems Market (By Deployment; By Application: Road, Aviation, Marine, Location-Based Services, Surveying & Mapping, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global positioning systems market size was estimated at around USD 109.38 billion in 2023 and it is projected to hit around USD 487.96 billion by 2033, growing at a CAGR of 16.13% from 2024 to 2033. During the forecast period, the market's growth is expected to be supported by the increasing prevalence of smartphones and the proliferation of GPS-enabled automobiles.

Key Pointers

• Asia Pacific region led the market with the highest market share of 37% in 2023.
• By Deployment, the consumer devices segment contributed the largest market share of 46% in 2023.
• By Application, the location-based services segment generated the maximum market share of 43% in 2023.
• By Application, the road application segment is expected to expand at the highest CAGR of 16.62% from 2024 to 2033.

Global Positioning Systems Market Overview

The global positioning systems (GPS) market has become a linchpin in modern navigation and spatial data applications. A technological marvel initially designed for military precision, GPS has evolved into an omnipresent force, influencing various sectors and daily life. This overview delves into the key aspects that define the GPS market, shedding light on its growth drivers, market segments, and the competitive landscape.

Global Positioning Systems Market Growth

The growth of the global positioning systems (GPS) market is propelled by a confluence of factors contributing to its expanding influence across diverse industries. One primary growth driver is the escalating demand for location-based services, with GPS technology becoming integral to smartphones, wearables, and the Internet of Things (IoT). The advent of autonomous vehicles is another pivotal factor, as GPS plays a critical role in ensuring precise navigation and coordination for these innovative modes of transportation. Additionally, the agricultural sector has witnessed a surge in the adoption of GPS for precision farming practices, facilitating accurate mapping and targeted resource management. This widespread integration of GPS into various applications underscores its versatility and underscores its role as a linchpin technology in the modern era. As industries continue to harness the potential of GPS, the market is poised for sustained growth, with innovations in technology further amplifying its impact across global landscapes.

Report Scope of the Global Positioning Systems Market

Global Positioning Systems Market Dynamics

Drivers

• Rising Demand for Location-Based Services (LBS): The escalating reliance on location-based services in everyday life, ranging from navigation applications to location-aware marketing, is a primary driver for the growth of the global positioning systems (GPS) market. The integration of GPS technology into smartphones, wearables, and various IoT devices has become ubiquitous, fueling the demand for accurate and real-time location information.
• Emergence of Autonomous Vehicles: The development and deployment of autonomous vehicles heavily depend on GPS for precise navigation and coordination. As the automotive industry shifts towards autonomous driving, GPS plays a pivotal role in ensuring the accuracy and reliability of location data, contributing significantly to the growth of the GPS market.

Restraints

• Satellite Signal Interference: Despite the robustness of GPS technology, satellite signal interference remains a notable restraint. In urban environments or areas with significant signal obstructions, such as tall buildings or dense vegetation, the accuracy of GPS signals can be compromised. This limitation poses challenges for applications that require high precision, and efforts to overcome signal interference are imperative for the continued advancement of GPS technology.
• Dependency on External Infrastructure: The effective functioning of GPS is contingent on a network of satellites and ground-based infrastructure. Any disruption or failure in this infrastructure, whether due to natural disasters, technical issues, or deliberate interference, can impede the reliability of GPS services. Dependence on external factors underscores the need for continuous infrastructure development and redundancy measures to mitigate potential disruptions.

Opportunities

• Integration with 5G Technology: The ongoing rollout of 5G technology presents a significant opportunity for the global positioning systems (GPS) market. The integration of GPS with 5G networks can enhance location-based services by providing faster and more reliable communication between devices and satellites. This synergy opens up new possibilities for applications requiring real-time, high-precision location data, such as augmented reality navigation and smart city solutions.
• Rise of Indoor Positioning Systems: The growing demand for indoor positioning systems represents a substantial opportunity for the GPS market. As industries increasingly recognize the importance of precise location data within buildings, GPS technology can evolve to offer innovative indoor positioning solutions. This includes applications in retail, healthcare, and manufacturing, where accurate indoor navigation can streamline operations and improve user experiences.

Deployment Insights

The consumer devices segment accounted for the highest revenue share of 46% in 2023, owing to the proliferation of smartphones, tablets, and PCs worldwide. GPS technology is increasingly deployed in consumer devices such as smartphones and tablets. It is also used in other devices, such as automotive telematics, portable navigation, and standalone trackers.

Moreover, GPS technology is used to transmit fleet positioning information through onboard units (OBUs) to assist transport operators in monitoring logistics performance activities. An increasing number of connected vehicles and growing driving safety concerns are estimated to lead to significant growth in the automotive telematics systems segment during the forecast period.

Automotive telematics systems segment is anticipated to witness significant growth during the forecast period. It is attributed to increasing usage and dependence on GPS systems for real-time and accurate navigation. The growing usage of GPS among industries to track vehicles and manage fleets is also fueling the growth of this segment.

Application Insights

GPS technology can be used in various applications, including road, aviation, marine, location-based services, surveying and mapping. The location-based services segment held the largest revenue share of 43% in 2023. The growth can be attributed to a shift in consumer trends towards e-commerce and e-hailing services.

Mobile manufacturers and application developers are showing an increased interest in using location-based information as an enabler for several enterprises, customers, and public safety services. For instance, several enterprises also leverage location-based data for analytics and advertising applications that help enterprises understand consumer behavior and reach the target customers, thus aiding them in expanding their business. Location-based information can be useful for secure authentication of users and fraud management services while enabling mobile services.

Location technology plays a vital role in road applications, owing to which the road applications segment is anticipated to command a sizeable share of the overall value in 2023. In addition, with rising demand for inbuilt GPS modules in automobiles and surging demand for autonomous vehicles, key vehicle manufacturers are focusing on undertaking partnerships and agreements with component manufacturers.

The road application segment is witnessing growth in the global positioning market at the highest CAGR of 16.62% during the forecast period. The growth is attributed to increasing demand for accurate navigation, real-time traffic updates, and efficient routing services. Integration of GPS technology in road applications has improved transportation efficiency, enhanced safety, and enabled features like fleet management and smart city initiatives. The rise of connected vehicles, mobile mapping apps, and government support for road infrastructure further contribute to this growth.

Regional Insights

North America, Europe, Asia Pacific, South America, and MEA (Middle East and Africa) are the key regions reviewed in the report. North America is one of the regions witnessing significant growth in the market. The growth is due to high military expenditure by governments (approximately 4.0% of the country’s GDP each year) and the high penetration of smartphones in the region. The penetration of smartphones in the region has been increasing, resulting in increased demand for location-based services. Thus, the regional market is expected to register a healthy growth rate during the forecast period.

Asia Pacific region dominated the market with the largest market share of 37% in 2023. The growth is attributed to rising smartphone users, growing broadband adoption, and high network infrastructure investments. Moreover, the widening base of social media users and an increasing number of GPS-enabled applications to share their real-time locations are likely to stimulate the growth of the regional market during the forecast period.

Global Positioning Systems Market Key Companies

• Hexagon AB
• Qualcomm Technologies, Inc.
• Broadcom
• Trimble Inc.
• MiTAC Holdings Corp
• TomTom International BV
• Collins Aerospace
• Texas Instruments Incorporated
• Garmin Ltd.

Positioning Systems Market Report Segmentations:

By Deployment

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

By Application

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

By Region

• North America
• Europe 
• Asia Pacific
• Latin America
• Middle East and Africa