Mid and High-Level Precision GPS Receiver Market Size [2031]
Mid and High-Level Precision GPS Receiver Market Size [2031]
Segments - Mid- and High-Level Precision GPS Receiver Market by Type (Differential Grade and Survey Grade), Industry (Mining, Construction, Agriculture, Oil & Gas, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :ICT-SE-5929
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Report Description
Mid- and High-Level Precision GPS Receiver Market Outlook 2031
The global mid- and high-level precision GPS receiver market size was USD 2.97 Billion in 2022 and is likely to reach USD 5.4 Billion by 2031, expanding at a CAGR of 8.7% during 2023–2031. The market is driven by the increasing use of GPS in a wide range of applications.
Growing use of the global positioning system (GPS) in autonomous vehicles and infrastructure development is anticipated to boost the market during the projection period. GPS receivers are crucial for surveying and construction applications, as it aids in precise site preparation and measurement. The demand for high-precision GPS receivers is set to increase in the coming years, due to the advancements in satellite technology.
- In October 2020, Septentrio and CORE signed an agreement to develop a receiver that uses Japan-based Quasi-Zenith Satellite System (QZSS). The QZSS is a satellite system that is designed to provide highly accurate positioning information in Japan and the surrounding regions. The new receiver that is being developed by Septentrio and CORE take advantage of this system to provide increasingly accurate positioning information to users.
Surging smart city initiatives and the Internet of Things (IoT) rely on accurate geolocation data. Therefore, precision GPS receivers are an integral part of these technologies. In addition, autonomous vehicles, including self-driving cars and drones, heavily rely on high-precision GPS technology for navigation. The growing inclination of consumers toward self-driving vehicles and increasing investments in autonomous transportation are likely to create lucrative prospects for the market in the coming years.
The COVID-19 pandemic hindered the market, due to the imposition of lockdowns globally that completely disrupted the supply chain. This led to a slowdown in production activities, eventually causing massive revenue loss for majority of industries that incorporate precision GPS in their products. Hence, this restrained the market during the pandemic.
Impact of Artificial Intelligence (AI) in Mid- and High-Level Precision GPS Receiver Market
The use of artificial intelligence is likely to provide substantial propulsion to the mid- and high-level precision GPS receiver market. AI in GPS receivers enhances the accuracy by mitigating signal interference and improving error correction. This results in highly precise and reliable location data. Moreover, it enables real-time adaptive algorithms that adjust to changing environmental conditions, ensuring consistent high-level performance.
Mid- and High-Level Precision GPS Receiver Market Dynamics
Major Drivers
Expansion of the construction industry is expected to drive the market during the projection period. There is a surge in the demand for accurate surveying and site mapping, which is essential for construction planning and execution. The precision global positioning system (GPS) tracking device helps in collecting accurate geospatial data, thereby significantly improving project efficiency and reducing the margin for errors. This is particularly valuable in large-scale construction projects and is anticipated to boost the market in the coming years.
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As per a survey report published in September 2023, construction put in place in the US in 2022 is estimated to be USD 1.8 trillion. The total spending on construction activities has grown significantly over the last few years.
Existing Restraints
Major reliance on satellites is likely to hamper the market during the forecast period. Several factors responsible for this include potential vulnerabilities such as signal interference, jamming, and limited coverage in certain areas. Additionally, the high cost of deployment and maintenance of satellites is further increasing the expenses for GPS receiver manufacturers. This is projected to restrain the market in the coming years.
Emerging Opportunities
Increasing commercial usage of unmanned aerial vehicles is anticipated to provide substantial growth opportunities for the market during the forecast period. These devices are crucial for ensuring accurate and reliable positioning and navigation for drones. The usage of these receivers enables precise geospatial data collection. This makes it an essential component in agriculture surveys and infrastructure inspection.
The market is anticipated to have major propulsion in the coming years, due to the increasing demand for unmanned aerial vehicles (UAVs) in several industries for delivery and other purposes .
Scope of the Mid- and High-Level Precision GPS Receiver Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Mid- and High-Level Precision GPS Receiver Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Differential Grade and Survey Grade), Industry (Mining, Construction, Agriculture, Oil & Gas, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Trimble Inc.; Topcon; South Surveying & Mapping Technology CO., LTD; Septentrio N.V.; RTX; Raven Industries, Inc.; JAVAD GNSS; Hexagon AB; Geneq; and ComNav Technology Ltd. |
Mid- and High-Level Precision GPS Receiver Market Segment Insights
Type Segment Analysis
Based on type, the mid- and high-level precision GPS receiver market is divided into differential grade and survey grade. The survey grade segment is projected to hold the major share of the market during the projection period, as these receivers are designed to achieve continuous network accuracy in real-time or static mode.
They are mainly used by professional surveyors to obtain improved measurement accuracy of specific locations. This segment is likely to have major growth in the coming years, owing to the increasing industrial expansion and rise in construction activity.
- In June 2020, Raytheon Technologies delivered the GPS-based Joint Precision Approach and Landing System to the US Navy ahead of schedule. The joint precision approach and landing system is a highly advanced system that is designed to assist military personnel in landing aircraft onto a carrier or an amphibious assault vessel. Raytheon Technologies was able to provide the US Navy with a cutting-edge tool that helps to enhance the safety and effectiveness of military operations by delivering the system ahead of schedule.
Industry Segment Analysis
On the basis of industry, the global market is segregated into mining, construction, agriculture, oil & gas, and others. The mining segment is projected to register a high CAGR during the forecast period, as GPS technology has various applications in the mining industry that include surveying & mapping land, haul truck fleets, shovels, loaders, dozers, blast hole drilling, GNSS surveying, graders, and vehicle tracking & dispatch.
These systems in mining use Real-time Kinematics (RTK) or differential GPS to increase the precision required in mining activities. The construction segment is anticipated to expand at a significant pace in the market. Construction companies utilize GPS for several purposes, including heavy equipment, tracking vehicles & tools, and monitoring worker safety & performance.
GPS helps in tracking the vehicles and other assets that are related to a specific job in real time. Additionally, it also be known when the crew enters or leaves a particular area by setting up geofencing. This information is useful for keeping track of the number of working hours of crew members in a specific area.
Regional Outlook
In terms of region, the global mid- and high-level precision GPS receiver market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to the presence of an excellent agricultural infrastructure and the rapid expansion of the construction industry in this region.
Factors such as rising population and increase in per capita income are leading to a high demand for food and residential space in countries such as India and China. This is resulting in a major propulsion of the construction and agriculture sectors in this region. The market in North America is likely to expand at a considerable pace in the coming years, due to its excellent technological infrastructure and extensive use of precision GPS in defense, agriculture, construction, and mining.
These GPS receivers are even used in the self-driving tractors that are majorly used in the North America-based farmlands. With the growing applications of GPS technology, the market is anticipated to have a substantial surge in the coming period.
Segments
The mid- and high-level precision GPS receiver market has been segmented on the basis of
Type
- Differential Grade
- Survey Grade
Industry
- Mining
- Construction
- Agriculture
- Oil & Gas
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Trimble Inc.
- Topcon
- South Surveying & Mapping Technology CO., LTD
- Septentrio N.V.
- RTX
- Raven Industries, Inc.
- JAVAD GNSS
- Hexagon AB
- Geneq
- ComNav Technology Ltd
Competitive Landscape
Key players competing in the global mid- and high-level precision GPS receiver market are Trimble Inc.; Topcon; South Surveying & Mapping Technology CO., LTD; Septentrio N.V.; RTX; Raven Industries, Inc.; JAVAD GNSS; Hexagon AB; Geneq; and ComNav Technology Ltd.
These companies incorporate several development strategies such as acquisitions, mergers, partnerships, product launches, collaboration, and production expansion to get an edge over the competitors. For instance,
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In January 2021, Raytheon Intelligence & Space, one of the key players of the market, announced that it had agreed to deliver its 3,000th Miniaturized Airborne GPS Receiver (MAGR) system to the US Air Force. The MAGR 2000-S24 system is a highly advanced GPS receiver that is designed to be both safe and resilient. It protects against jamming and interference, which makes it an essential tool for military operations.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Mid- and High-Level Precision GPS Receiver Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Mid- and High-Level Precision GPS Receiver Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Mid- and High-Level Precision GPS Receiver Market - Supply Chain
4.5. Global Mid- and High-Level Precision GPS Receiver Market Forecast
4.5.1. Mid- and High-Level Precision GPS Receiver Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Mid- and High-Level Precision GPS Receiver Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Mid- and High-Level Precision GPS Receiver Market Absolute $ Opportunity
5. Global Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Types
5.3.1. Differential Grade
5.3.2. Survey Grade
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Mid- and High-Level Precision GPS Receiver Demand Share Forecast, 2019-2026
7. North America Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Types
7.4.1. Differential Grade
7.4.2. Survey Grade
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Mid- and High-Level Precision GPS Receiver Demand Share Forecast, 2019-2026
8. Latin America Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Types
8.4.1. Differential Grade
8.4.2. Survey Grade
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Mid- and High-Level Precision GPS Receiver Demand Share Forecast, 2019-2026
9. Europe Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Types
9.4.1. Differential Grade
9.4.2. Survey Grade
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Mid- and High-Level Precision GPS Receiver Demand Share Forecast, 2019-2026
10. Asia Pacific Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Types
10.4.1. Differential Grade
10.4.2. Survey Grade
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Mid- and High-Level Precision GPS Receiver Demand Share Forecast, 2019-2026
11. Middle East & Africa Mid- and High-Level Precision GPS Receiver Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Mid- and High-Level Precision GPS Receiver Market Size and Volume Forecast by Types
11.4.1. Differential Grade
11.4.2. Survey Grade
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Mid- and High-Level Precision GPS Receiver Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Mid- and High-Level Precision GPS Receiver Market: Market Share Analysis
12.2. Mid- and High-Level Precision GPS Receiver Distributors and Customers
12.3. Mid- and High-Level Precision GPS Receiver Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Trimble Inc.
12.4.2. Topcon
12.4.3. South Surveying & Mapping Technology CO., LTD
12.4.4. Septentrio N.V.
12.4.5. RTX
12.4.6. Raven Industries, Inc.
12.4.7. JAVAD GNSS
12.4.8. Hexagon AB
12.4.9. Geneq
12.4.10. ComNav Technology Ltd
Methodology
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