According to a new market research "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 compound annual growth rate (CAGR) of 16.36 percent between 2015 and 2020.
Centimeter-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 meter or decimeter accuracy, which is more convenient and utilizes 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 Point (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 categorizes 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 analyzes the trends in the said market.
One of the objectives of the report was to analyze the market trends for all the segments of the mid and high level precision GPS market along with, forecasting their respective growth rates. Apart from market segmentation, the report also provides an in-depth analysis such as the Porters' Five Forces analysis, in addition to illustrating the supply chain with a detailed process flow diagram, and market dynamics includes drivers, restraints, and opportunities for the medium and high level precision GPS market; analyzing and listing the several factors that positively and negatively affect each section of the market considered in this research study. The impact of the major factors on the global market for mid and high level precision GPS has also been provided under drivers, restraints, and opportunities.
The mid and high level precision GPS market has been segmented based on geography into four regions, namely - North America, Europe, APAC, and Rest of the World (RoW). The report also estimates the market-size of the said regions. North America is estimated to account for the major share of the mid and high level precision GPS market, followed by Europe and APAC. Moreover, the RoW market for mid and high level precision GPS 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).