What is the global market size of Automotive GPS Modules Market?

GPS Market size was valued at USD 1.53 billion in 2019 and is poised to grow from USD 2.02 billion in 2023 to USD 4.62 billion by 2031, growing at a CAGR of 11.56% in the forecast period (2024-2031).

Who are the key vendors in the Global Automotive GPS Modules Market?

The global automotive GPS modules market is highly competitive and fragmented, with the presence of several major players. To improve their market position and broaden their product offering, players are concentrating on a number of initiatives, including mergers and acquisitions, partnerships, collaborations, and the development of new products. In order to address the evolving needs of the automobile sector, they are also investing in research and development operations to create improved GPS modules and technologies. The competitive landscape of the global automotive GPS modules market is expected to remain highly competitive and dynamic in the coming years, with players focusing on innovation, partnerships, and collaborations to gain a competitive edge. 'Bosch (Germany)', 'Continental (Germany)', 'Denso Corporation (Japan)', 'Delphi Technologies (UK)', 'Garmin (US)', 'Harman International (US)', 'Laird Connectivity (US)', 'Mitsubishi Electric (Japan)', 'NXP Semiconductors (Netherlands)', 'Trimble (US)', 'NovAtel (Canada)', 'STMicroelectronics (Switzerland)', 'Teldat (Spain)', 'u-blox (Switzerland)', 'TomTom International (Netherlands)', 'Quectel Wireless Solutions (China)', 'Fastrax Ltd. (Finland)', 'MediaTek Inc. (Taiwan)', 'Sierra Wireless (Canada)', 'Swift Navigation (US)'

What is the key driver of Global Automotive GPS Modules Market?

The demand for real-time location-based information is increasing in the automotive industry, as it helps in improving the efficiency of transportation and logistics operations. GPS modules provide accurate and real-time location-based information, which is driving the adoption of GPS modules in the automotive industry.

What is the key market trend for Global Automotive GPS Modules Market?

Automotive GPS Modules Integration of GPS Modules with Other Technologies: The integration of GPS modules with other technologies such as infotainment and driver assistance systems is a key trend in the market. The integration of GPS modules with these systems provides a more comprehensive and personalized user experience, and enables the development of new services and applications. Additionally, this integration is transforming the automotive industry by enabling advanced features like real-time traffic updates, enhanced navigation, and autonomous driving capabilities. This trend not only improves the accuracy and reliability of navigation systems but also lays the foundation for the development of smarter and safer autonomous vehicles in the future, ultimately enhancing the driving experience and road safety for consumers.

Which region accounted for the largest share in Global Automotive GPS Modules Market?

North America dominated the global automotive GPS modules market . accounting for the largest share of the market. This is attributed to the high adoption rate of connected cars and the presence of major automotive OEMs in the region. The increasing demand for GPS-enabled vehicles and the growing use of GPS modules in various applications such as navigation and tracking are expected to drive the market growth in this region.

GPS Market Size

SkyQuest Technology's Gps market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global GPS Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.

GPS Market Insights

GPS Market size was valued at USD 2.02 Billion in 2023 and is poised to grow from USD 2.25 Billion in 2024 to USD 5.15 Billion by 2032, growing at a CAGR of 11.56% during the forecast period (2025-2032).

An unobstructed line of sight to four or more GPS satellites on or near the Earth is required for a Global Positioning System (GPS) to provide position and timing information in all weather circumstances. Globally, GPS offers vital capabilities to users in the military, civil service, and business sectors. Anyone with a GPS receiver can access it, which is run by the American government. Since more businesses are adopting cutting-edge technology, the market for GPS (Global Positioning System) tracking devices is growing. In addition, it is anticipated that the demand for GPS-enabled smartphones would rise as e-hailing services become more widely used. Over the forecasted period, the market is also anticipated to be driven by an increase in smart mobility applications, including navigation, fleet management, satellite road traffic monitoring, and others. Furthermore, because of its smaller size, longer lifespan, and high return on investment, the market for GPS (Global Positioning System) tracking devices is anticipated to grow.

US GPS Market is poised to grow at a sustainable CAGR for the next forecast year.

GPS Market Report Snapshots

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GPS companies are predicted to make friends with smartphone makers to benefit from significant potential in the cellular phone sector. Vendors might mostly concentrate on research and development in order to enhance client value and increase accuracy. For instance, Amazfit introduced its first smartwatch from the Zepp series in India in July 2021. The Zepp Z is a high-end product. It has an Alexa speech assistant and a built-in GPS. 'Garmin (United States) ', 'TomTom (Netherlands) ', 'Qualcomm (United States) ', 'Broadcom (United States) ', 'MediaTek (Taiwan) ', 'u-blox (Switzerland) ', 'Telit (United Kingdom) ', 'Quectel (China) ', 'Fibocom (China) ', 'Sierra Wireless (Canada) ', 'Navico (Norway) ', 'Trimble (United States) ', 'HERE Technologies (Germany) ', 'Esri (United States) ', 'Google (United States) ', 'Apple (United States) ', 'Thales (France) ', 'Raytheon Technologies (United States) ', 'Lockheed Martin (United States) ', 'Boeing (United States)'

The key factor fueling the market's expansion is an increase in the use of global positioning systems (GPS) for navigation. Additionally, it is estimated that the market expansion would be supported over the forecast period by the rising smart transportation applications such as navigation, fleet management, satellite road traffic monitoring, and others.

The market will soon have plenty of attractive prospects due to the rising need for IoT, big data, 4G and 5G networks, and cloud computing, which will accelerate the growth rate of the (GPS) global positioning systems market. Additionally, the rising demand for such cutting-edge technology products will present a wealth of expansion potential. Businesses in the market might take advantage of the need for GPS in a wide range of industrial applications, which is anticipated to grow at a rapid rate.

In 2021, North America dominated the global GPS market. It is predicted that North America would keep dominating the global GPS market during the forecast period. The region has already established its control over the market in recent years, largely as a result of rising demand for high-end navigation and increased use of advanced technologies. For the foreseeable future, the regional market is expected to benefit from about the same growth sources. Due to a rise in the use of GPS technology in the transportation, logistics, and healthcare sectors, North America now dominates the industry. Additionally, high military spending penetration by regional governments and regulatory agencies as well as rising mobile device penetration are factors contributing to the rise in demand for the GPS market. To compete in the area, several important firms in the region are also making significant investments in the creation of technology-based products and collaborating with others.

GPS Market Size

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FAQs

What is the global market size of GPS Market?

Who are the key vendors in the GPS Market?

What is the key driver of GPS Market?

What is the key market trend for GPS Market?

Which region accounted for the largest share in GPS Market?

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