Published Date: 23-Mar-2021
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According to a new report Global Mid-and High-Level Precision GPS Receiver Market, published by KBV research, The Global Mid-and High-Level Precision GPS Receiver Market size is expected to reach $3.7 billion by 2026, rising at a market growth of 11.1% CAGR during the forecast period.
Large-scale construction projects like civil construction sites & megaprojects for tool tracking are using GPS technology. GPS systems are also witnessing demand in construction projects for different usage that includes tracking systems for on-time delivery of construction material & vehicle tracking software with an aim to monitor the mileage, speed, and engine hours and personnel to make sure that employees are at their places. Moreover, the integration of GPS technology with cloud technology assists in storing & analyzing substantial location-based data on the bulky equipment of the company.
The Survey Grade market dominated the Global Mid-and High-Level Precision GPS Receiver Market by Type 2019, and would continue to be a dominant market till 2026. The Differential Grade market is expected to witness a CAGR of 13.2% during (2020 - 2026).
There are many nations like Japan and China, which are presently facing high demand for the GPS receiver market. The increasing population in Asia-Pacific nations is also raising air and rail traffic that are propelling the demand for GPS receivers. The mid-and high-level precision GPS is mostly utilized for accurate farming applications in Australia. In addition, Australia is among the major countries that finds rising usage of precision farming techniques followed by the US & Canada.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Trimble, Inc., Hexagon AB, Topcon Corporation (Topcon Positioning Group), Raytheon Technologies Corporation, Javad GNSS, Inc., Septentrio N.V., South Surveying & Mapping Technology Co., Ltd., Raven Industries, Inc., Geneq, Inc., and ComNav Technology Ltd.
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