Projected Growth in Global Mid-and High-Level Precision GPS Receiver Market Based on Market Size, CAGR, Key Driving Factors, and Emerging Trends

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The GPS receiver market at the middle and high precision level has shown immense growth potential, fostered by factors like environmental monitoring, space exploration, military applications, and others.

What Is The Projected Market Size Of The Global Mid-and High-Level Precision GPS Receiver Market And Its Growth Rate?
The mid-and high-level precision GPS receiver market experienced a rapid pace of growth in recent times:
•The market size was $3.51 billion in 2024, and expected to grow to $3.89 billion in 2025 at a compound annual growth rate (CAGR) of 11.0%.
•The projected market size in 2029 is $6.21 billion with a CAGR of 12.4%. This growth is anticipated to be driven by initiatives such as smart cities and infrastructure, integration of telecommunications, adoption of the internet of things, and a rise in autonomous vehicles.

What Is Driving The Growth In The Mid-and High-Level Precision GPS Receiver Market?
The growth in the mid- and high-level precision GPS receiver market is primarily fueled by the rise in the construction industry. GPS technology is extensively used for equipment tracking in large-scale construction projects, increasing demand for these devices. For instance, the United States' construction spending was projected to be $1,908.4 billion in April 2023, a 7.2% increase over the same period the previous year. Further, new dwelling units built in January 2023 showed a 12.8% increase over January 2022. Hence, the burgeoning construction industry drives the demand for mid- and high-level precision GPS receivers.

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Who Are the Key Players Driving Mid-and High-Level Precision GPS Receiver Market Growth?
Key players in the mid-and high-level precision GPS receiver market include:
•Stonex Group Inc.
•CNH Industrial N.V.
•Raytheon Technologies Corporation
•Hexagon AB
•Garmin Ltd
•Trimble Inc.
•MiTAC Holdings Corp.

What Are The Key Trends In The Mid-and High-Level Precision GPS Receiver Market?
Key trends in the forecast period include:
•Technological advancements
•Real-time kinematics technology advancements
•Integration of machine learning
•Integration of AI

What Are The Segments Of The Global Mid-and High-Level Precision GPS Receiver Market?
The mid-and high-level precision GPS receiver market is segmented by:
1) Type: Differential Grade, Survey Grade
2) Frequency Type: Single Frequency, Dual Frequency
3) Industry: Agriculture, Mining, Construction, Oil And Gas, Other Industries

Which Region Leads The Mid-and High-Level Precision GPS Receiver Market?
Asia-Pacific was the largest region in the mid-and high-level precision GPS receiver market in 2024 and is expected to continue its lead in the forecast period.

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What Is Covered In The Mid-and High-Level Precision GPS Receiver Market Global Market Report?
- Market Size Analysis: Analyze the Mid-and High-Level Precision GPS Receiver Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Mid-and High-Level Precision GPS Receiver Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Mid-and High-Level Precision GPS Receiver Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Mid-and High-Level Precision GPS Receiver Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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