Mobile Positioning System Market: Industry Analysis and Detailed Profiles of top Industry Players
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.
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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.
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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.
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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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