Mobile Positioning System Market To Witness Exponential Growth Over The Coming Years
This technology leverages the basic principles of ground positioning system in order to track and determine the object’s position. In 2011, the market for mobile positioning systems were valued at US$25 bn and is poised to gain speed in the current decade. It has been projected that the market will touch a valuation of US$49 bn by the end of the forecast period growing at a 7% CAGR.
The report is an investigation in the growth of the global mobile positioning system market over the last couple of years and in the coming years. The market research publication further reasons out the causes of the changes in the market across the globe.
It does this so by presenting an evaluation of the dynamics and the trends prevalent from the last few years and the ones that are likely to retain an impact during the forecast period. The Porter’s five forces analysis is being taken into consideration for the analysts to provide a clear view of the vendor landscape to the readers.
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Mergers, agreements, acquisitions, and other partnerships have also been highlighted in the report. The study further delves into the working of the various leading companies along with the information on the products, strategies, and shares of the companies in question.
Global Mobile Positioning System: Trends and Opportunities
The global market for mobile positioning system is expected to witness exponential growth over the coming years owing to the growing demand for high security across the globe pertaining to an alarming rise in terrorist and other criminal activities.
The rapidly growing need for efficient transportation is also another primary factor that is expected to drive the market for mobile positioning system over the upcoming years. The development and growing acceptance of new technology is also expected to magnify the adoption of mobile positioning system. However, the growth of the market is expected to be challenged by the high cost of deployment of mobile positioning systems.
The applications of mobile positioning system includes mapping and surviving, live tracking of objects, security, and vehicles among others. The large scale deployment of mobile positioning system in vehicles is anticipated to bode well for the growth of the market. Vehicle navigation technology has been inseparably linked to the current transportation systems, thus making it the leading application segment.
Global Mobile Positioning System: Regional Analysis
On the regional front, the U.S. emerged as an established leader in the market for mobile positioning system and is expected to maintain supremacy during the forecast period.
The growing transportation in Asia Pacific is expected to form conducive situations in the region for the desirable progress of the market. The promising demand being generated from countries such as India and China are likely to aid the region in achieving a strong position in the global market.
Global Mobile Positioning System: Competitive Landscape
Companies such as Topcon Positioning Systems, Inc., Zebra Technologies Corp, Raytheon Co, Navcom Technology, Inc, Panasonic Corp., Fei-Zyfer, Inc., and Freeflight Systems, Inc. are likely to compete against each other in order to attain a competitive edge over the others.
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