Global Mid-and High-Level Precision GPS Receiver Market Report 2024: Growth Rate, Major Segments And Regions

The Mid-and High-Level Precision GPS Receiver Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Mid-and High-Level Precision GPS Receiver Global Market Report 2024, The mid-and high-level precision gps receiver market size has grown rapidly in recent years. It will grow from $3.19 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%.  The  growth in the historic period can be attributed to environmental monitoring, space exploration advances, military applications, civilian navigation,  surveying and mapping, precision agriculture.

The mid-and high-level precision gps receiver market size is expected to see rapid growth in the next few years. It will grow to $5.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.  The growth in the forecast period can be attributed to smart cities and infrastructure, telecommunications integration, internet of things adoption, rising autonomous vehicles. Major trends in the forecast period include technological advancements, real-time kinematics technology advancements, machine learning integration, integration of ai.

The rise in the construction industry is expected to propel the growth of the mid-and high-level precision GPS receiver market going forward. The construction industry is an area of science and trade that deals with building, repairing, remodeling, and maintaining structures. It includes constructing buildings, engineering projects, roadways, utility systems, and other specialized facilities. The use of GPS technology for equipment tracking in large-scale construction projects, such as civil construction sites and mega-projects, has raised the demand for GPS devices in the construction sector. For instance, in June 2023, according to a study provided by the United States Census Bureau, a US-based federal statistical system organization, overall construction spending in April 2023 is expected to be $1,908.4 billion, up 7.2% or $1,780.9 billion in April 2022. Furthermore, 1,406,000 new dwelling units were built in January 2023, representing a 12.8% increase over January 2022. Therefore, the rise in the construction industry is driving the growth of the mid-and high-level precision GPS receiver market.

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The mid-and high-level precision gps receiver market covered in this report is segmented –
1) By Type: Differential Grade, Survey Grade
2) By Frequency Type: Single Frequency, Dual Frequency
3) By Industry: Agriculture, Mining, Construction, Oil And Gas, Other Industries

Product innovations are a key trend gaining popularity in the mid-and high-level precision GPS receiver market. Major companies operating in the mid-and high-level precision GPS receiver market are developing new products to sustain their position in the market. For instance, in December 2022, ComNav Technology Ltd., a China-based manufacturer of GNSS (Global Navigation Satellite System) OEM boards and receivers for high-precision positioning, launched the Universe Serie GNSS Receiver. This revolutionary and creative laser GNSS receiver offers a rod-less survey. The device integrated a millimeter-level laser distance meter onto Venus, which may be used in laser mode to replace the range pole, extending the capabilities of GNSS surveying beyond the norm. Even with minor operational variations, such as moderate shaking, it can fulfil jobs with 10 cm measurement criteria. This non-contact survey has the potential to significantly expand the operating area, increase efficiency, and assure the safety of the typical GNSS receiver.

The mid-and high-level precision gps receiver market report table of contents includes:
1. Executive Summary

2. Mid And High Level Precision GPS Receiver Market Characteristics

3. Mid And High Level Precision GPS Receiver Market Trends And Strategies

4. Mid And High Level Precision GPS Receiver Market - Macro Economic Scenario

5. Global Mid And High Level Precision GPS Receiver Market Size and Growth
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32. Global Mid And High Level Precision GPS Receiver Market Competitive Benchmarking

33. Global Mid And High Level Precision GPS Receiver Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Mid And High Level Precision GPS Receiver Market

35. Mid And High Level Precision GPS Receiver Market Future Outlook and Potential Analysis

36. Appendix

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