Mid-and High-Level Precision GPS Receiver Market: Analysis and Insights

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MarketsandMarkets Presents
The Global Mid-and High-Level Precision GPS
Receiver Market Size is expected to grow from USD
2.7 billion in 2021 to USD 4.0 billion by 2026,
at a CAGR of 8.6. The growth of this market is
driven mainly by growing adoption of GPS
receivers in construction industry, rising
technological advancements and GPS augmentation
system, rising ongoing development to improve
overall GPS infrastructure, and growing
availability of more cost-effective GPS solutions.
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MarketsandMarkets Presents
Mining Industry is estimated to hold the largest
growth rate of the Mid-and High-Level Precision
GPS Receiver Market during the forecast
period. The mining industry is expected to held
the largest CAGR of the Mid-and High-Level
Precision GPS Receiver Market during the forecast
period. GPS finds various applications in the
mining industry, including surveying and mapping
land, blasthole drilling shovels, dozers,
loaders, and graders haul truck fleet, vehicle
tracking dispatch, and GNSS surveying. These
systems in mining are implemented using Real-time
Kinematics (RTK) or differential GPS in order to
increase the accuracy required for mining
activities. Download PDF Sample _at_
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MarketsandMarkets Presents
Mid-and High-Level Precision GPS Receiver for
survey grade type to grow at highest CAGR from
2021 to 2026 Survey-grade GPS receivers are used
to position road construction, survey markers,
and buildings. These receivers are designed to
achieve constant network accuracy in real time or
static mode There is an increasing adoption of
survey grade in industries such as agriculture
and construction as it provides accurate
positioning. Rising construction activities
across the world is estimated to fuel the demand
for the survey-grade segment in the coming years.
These receivers are more expensive and more
accurate positioning devices as compared to
differential-grade GPS receivers.
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MarketsandMarkets Presents
The Mid-and High-Level Precision GPS Receiver
Market in APAC is expected to grow at the highest
CAGR from 2021 to 2026 APAC is expected to hold
the largest growth rate of the Global Mid-and
High-Level Precision GPS Receiver Market during
the forecast period. The growth of GPS receivers
in the region is attributed to the growing
agriculture (precision farming) industry as well
as rising infrastructure development. GPS
receivers are highly used in both construction
and farming activities. However, the pandemic has
resulted in disruptions in supply chain
activities, revenue losses, and slowdown in
production activities which have highly impacted
the growth of the market, eventually impacting
the economy.
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MarketsandMarkets Presents
Countries such as China and Japan are witnessing
increasing demand for the GPS Receiver Market.
Rising population in APAC countries is also
increasing air and rail traffic, which is driving
the demand for GPS receivers. In Australia, the
mid- and high- level precision GPS is basically
used for precision farming applications.
Australia is one of the leading countries in the
adoption of precision farming techniques after
the US and Canada. Australia has helped lead the
way in the application of Precision Agriculture
(PA) or satellite farming, which allows farmers
to cater to the variability of their lands.
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MarketsandMarkets Presents
Market in APAC estimated to have largest share
during forecast period APAC has emerged as a
global focal point for large investments and
business expansion opportunities. The region
represents the fastest-growing market worldwide
for thermoelectric modules. The increased demand
for waste heat recovery, consumer goods,
industrial automation, and healthcare monitoring
devices is expected to drive this market in the
region. APAC has a large consumer electronics
industry consisting of countries such as China,
Japan, and South Korea, which is the largest
manufacturer and end user of consumer devices.
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MarketsandMarkets Presents
Market in APAC estimated to have largest share
during forecast period APAC has emerged as a
global focal point for large investments and
business expansion opportunities. The region
represents the fastest-growing market worldwide
for thermoelectric modules. The increased demand
for waste heat recovery, consumer goods,
industrial automation, and healthcare monitoring
devices is expected to drive this market in the
region. APAC has a large consumer electronics
industry consisting of countries such as China,
Japan, and South Korea, which is the largest
manufacturer and end user of consumer devices.
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MarketsandMarkets Presents
Key Players Major companies operating in this
Mid-and High-Level Precision GPS Receiver Market
include Trimble Navigation Ltd. (US), Hexagon AB
(Sweden), Topcon Positioning Systems Inc. (US),
Hemisphere GNSS, Inc. (US), and Javad GNSS, Inc.
(US). Browse For More Details -
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MarketsandMarkets Presents
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