Mid-and High-Level Precision GPS Receiver Market Trends, Top Companies, Share, Growth And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Mid-and High-Level Precision GPS Receiver Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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.

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

Stonex Group Inc., CNH Industrial N.V., Raytheon Technologies Corporation, Hexagon AB, Garmin Ltd., Valmont Industries Inc., Trimble Inc., MiTAC Holdings Corp., Topcon Positioning Systems Inc., u-blox AG, Hi-Target Surveying Instrument Co. Ltd., Raven Industries Inc., CHC Navigation Technology Ltd., AG Leader Technology Inc., Carlson Systems Holdings Inc., Septentrio N.V., Hemisphere GNSS Inc., NVS Technologies Inc., Javad GNSS Inc., Unicore Communications Inc., Swift Navigation Inc., Thales Group, Syntony SAS, SkyTraq Technology Inc., Geneq Inc., South Surveying & Mapping Technology Co. Ltd., Tersus GNSS Inc., Eos Positioning Systems Inc., NavtechGPS Inc., Satlab Geosolutions AB, Tallysman Wireless Inc.

Mid-and High-Level Precision GPS Receiver Market 2024 Key Insights:

• 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%.
• Construction Industry Surge Fuels Expansion Of Mid- And High-Level Precision Gps Receiver Market
• Product Innovation Revolutionizing Precision With Innovative Laser Integration
• Asia-Pacific was the largest region in the mid-and high-level precision GPS receiver market in 2023

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