Mid- and high-precision GPS market worth US$3B by 2020

By on 7 April, 2015

Precision GPS

According to a new market research report entitled ‘Mid and High Level Precision GPS Market by Type (Differential Grade and Survey Grade), Application (Precision Farming, Mining, Construction, Oil & Gas) and Geography – Global Forecast to 2020,’ published by MarketsandMarkets, the mid- and high-level precision GPS market is expected to reach $3.09 Billion by 2020, growing at a CAGR of 16.36% between 2015 and 2020.

Centimetre-level high precision GPS positioning systems, based on networked Real Time Kinematics GPS (RTK-GPS) are being commercially operated across the world. A recently devised method at sub metre or decimetre accuracy, which is more convenient and uses a low cost and compact code-ranging GPS receiver, is being used to achieve better precision and accuracy in GPS products.

Both of these methods significantly reduce the time and cost to produce precise satellite imagery based on Ground Control Points (GCP), as well as to update maps in a geo-centric coordinate, wherein it is necessary to use satellite imagery with GPS. This report particularly focuses on the mid- and high-level precision GPS market. The report categorises the global mid- and high-level precision GPS market on the basis of type, application sectors, and geography, as well as forecasts the market size and analyses the trends in the said market.

One of the objectives of the report was to analyse the market trends for all the segments of the market along with forecasting their respective growth rates. Apart from market segmentation, the report also provides in-depth analysis.

The report also estimates the market-size of its four assigned regions. North America is estimated to account for the major share of the Market, followed by Europe and APAC. Moreover, the RoW Market is expected to grow at a high rate.

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).

You can access the report at http://www.marketsandmarkets.com/Market-Reports/mid-high-level-precision-gps-market-166948901.html

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