Dublin, March 16, 2021 (GLOBE NEWSWIRE) -- The "Mid-and High-Level Precision GPS Receiver Market with COVID-19 Impact, by Type (Differential Grade, Survey Grade), Industry (Agriculture, Mining, Construction, Oil & Gas) and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global mid-and high-level precision GPS receiver market size is expected to grow from USD 2.7 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 8.6%.
The growth of this market is mainly driven by ongoing developments to improve overall GPS infrastructure, increasing adoption of GPS receivers in construction industry, rising technological advancements and GPS augmentation systems, and growing availability of more cost-effective GPS solutions. However, factors such as slow market acceptance for new technologies, heavy reliance on availability of satellites, and decreasing demand of GPS receiver due to novel COVID-19 are restraining the market growth.
Survey grade to grow at highest CAGR during the forecast period
The increasing usage of survey-grade GPS receivers by professional surveyors to get high accuracy measurements of fixed locations leads to the significant segment growth in the coming years. Survey-grade GPS receivers are designed to achieve constant network accuracy in real time or static mode. These receivers are capable of generating network accuracies of more than 0.1 m with post-processing and more than 1 m with real-time differential correction. There is an increasing adoption of survey grade in industries such as agriculture and construction as it provides accurate positioning. Rising construction activities across the world is estimated to fuel the demand for the survey-grade segment during the forecast period.
Construction industry dominated the mid-and high-level precision GPS receiver market in 2020.
The rise in population in emerging countries leads to the increasing infrastructure development, which is driving the growth of the construction industry. This is responsible for high adoption of high-precision receiver in construction industry. GPS technology is adopted in large-scale construction projects such as civil construction sites and megaprojects for equipment tracking. Besides, mining industry is estimated to hold the largest CAGR over the forecast period. GPS receivers are broadly adopted by various applications of the mining industry, which include surveying and mapping land and discovering suitable locations for agriculture, construction, mining, and other location-based services.
Market in APAC to grow at highest CAGR during the forecast period
The expansion of the urban population and rising industrialization are responsible for infrastructure development which leads to an increase in the adoption of GPS receivers, especially in emerging economies. In addition, the increasing focus on the rising agriculture production in various countries of APAC is also responsible for the growth of the mid-and high-level precision GPS receiver market in the region. However, the rapid spread of the novel COVID-19 has resulted in disruptions in supply chain activities, revenue losses, and slowdown in production activities which have highly impacted the growth of the market in the region, eventually impacting the economy.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities For Mid- And High-Level Precision GPS Market
4.2 Mid- And High-Level Precision GPS Receiver Market, By Type
4.3 Mid- And High-Level Precision GPS Receiver Market, By Industry
4.4 Mid- And High-Level Precision GPS Receiver Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Ongoing Developments To Improve Overall GPS Infrastructure
5.2.1.2 Increasing Adoption Of GPS Receivers In Construction Industry
5.2.1.3 Rising Technological Advancements And GPS Augmentation Systems
5.2.1.4 Growing Availability Of More Cost-Effective GPS Solutions
5.2.2 Restraints
5.2.2.1 Slow Market Acceptance For New Technologies
5.2.2.2 Heavy Reliance On Availability Of Satellites
5.2.2.3 Low Demand For GPS Receivers Due To Covid-19
5.2.3 Opportunities
5.2.3.1 Commercial Use Of Unmanned Aerial Vehicles (UAVs)
5.2.4 Challenges
5.2.4.1 Interfacing Of GPS Signals With Light Squared Signals
5.3 Value Chain
5.4 Ecosystem
5.5 YC-YCC Shift For GPS Receiver Market
5.6 Porter'S Five Force Analysis
5.7 Case Study
5.7.1 Use Case 1: Trimble, Inc.
5.7.2 Use Case 2: Hemisphere Gnss, Inc.
5.8 Technology Trends
5.8.1 Precision Point Positioning (PPP)
5.8.2 Inertial Navigation System
5.9 Pricing Analysis
5.10 Trade Analysis
5.11 Patent Analysis
5.12 Standards & Regulatory Landscape
5.12.1 China'S Surveying And Mapping Law
5.12.2 ISO 17123-8:2015
5.12.3 ITU-Recommendation
5.12.4 Performance Standards For Global Positioning Satellite System (GPSS) Equipment
6 Africa GPS Receiver Market
6.1 Introduction
6.2 Government Initiatives
6.2.1 Development Of Satellite-Based Augmentation System (SBAS)
6.2.2 Use Of GPS-Enabled Devices To Map African Farms
6.3 Strategic Initiatives By Industry Participants
6.3.1 Asecna Signed Agreement With Thales Alenia Space
6.3.2 Nigcomsat Deploys Africa's First SBAS
6.3.3 Topcon Positioning Systems, Inc. To Build Trail Bridge In Rwanda
6.4 Increasing Use Of GNSS Receivers In Mining Industry In Africa
7 Satellite Navigation System
7.1 Global Gnss Constellations
7.1.1 Global Positioning System (GPS)
7.1.2 Global Navigation Satellite System (Glonass)
7.1.3 Galileo
7.1.4 Beidou
7.2 Regional GNSS Constellations
7.2.1 Quasi-Zenith Satellite System (QZSS)
7.2.2 Indian Regional Navigation Satellite System (IRNSS)
7.2.3 Satellite-Based Augmentation System (SBAS)
8 Mid- And High-Level Precision GPS Receiver Market, By Frequency Type
8.1 Introduction
8.2 Single Frequency
8.2.1 Demand For L1 Band To Eliminate Multipath Errors
8.3 Dual Frequency
8.3.1 Dual Frequency To Hold Largest Market Share
9 Mid- And High-Level Precision GPS Receiver Market, By Type
9.1 Introduction
9.2 Differential Grade
9.2.1 Differential Grade Widely Used To Correct Inaccuracies In GPS
9.3 Survey Grade
9.3.1 Survey Grade To Hold Largest Size In GPS Receiver Market
10 Mid- And High-Level Precision GPS Receiver Market, By Industry
10.1 Introduction
10.2 Agriculture (Precision Farming)
10.2.1 Agriculture (Precision Farming) To Hold Largest Share Of Global GPS Receiver Market
10.2.2 Impact Of Covid-19 On Agriculture Industry
10.3 Oil & Gas
10.3.1 GPS Being Beneficial In Streamlining Operations To Propel Demand For GPS Receivers
10.3.2 Impact Of Covid-19 On Oil & Gas Industry
10.4 Construction
10.4.1 Increasing Usage Of Handheld GPS Products To Drive Market Growth
10.4.2 Impact Of Covid-19 On Construction Industry
10.5 Mining
10.5.1 Rising Use Of GPS Receivers For Various Mining Operations To Drive Market Growth
10.5.2 Impact Of Covid-19 On Mining Industry
10.6 Others
10.6.1 Impact Of Covid-19 On Others
11 Mid- And High-Level Precision GPS Receiver Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 ROW
12 Competitive Landscape
12.1 Introduction
12.1.1 Revenue Analysis Of Top 5 Companies
12.2 Market Share Analysis Of Top 5 Players, 2020
12.3 Competitive Evaluation Quadrant, 2020
12.3.1 Stars
12.3.2 Emerging Leaders
12.3.3 Pervasive
12.3.4 Participants
12.4 Small And Medium-Sized Enterprises (Sme) Evaluation Quadrant, 2020
12.4.1 Progressive Companies
12.4.2 Responsive Companies
12.4.3 Dynamic Companies
12.4.4 Starting Blocks
12.4.5 Mid- And High-Level Precision GPS Receiver Market: Product Footprint
12.5 Competitive Situations And Trends
12.5.1 Product Launches
12.5.2 Deals
13 Company Profiles
13.1 Key Players
13.1.1 Trimble, Inc.
13.1.2 Topcon Positioning Systems, Inc.
13.1.3 Hexagon AB
13.1.5 Javad GNSS, Inc.
13.1.6 Septentrio N.V.
13.1.7 South Surveying & Mapping Technology Co., Ltd.
13.1.8 CNH Industrial America Llc
13.1.9 Geneq Inc.
13.1.10 Raven Industries, Inc.
13.2 Other Players
13.2.1 Fieldbee
13.2.2 AG Leader Technology
13.2.3 ARAG Srl
13.2.4 Magellan Systems Japan, Inc.
13.2.5 AVMAP Satellite Navigation Inc.
13.2.6 Hi-Target
13.2.7 Satlab Geosolutions AB
13.2.8 Quectel Wireless Solutions Co., Ltd.
13.2.9 Spectra Geospatial
13.2.10 Shanghai Huace Navigation Technology Ltd.
13.2.11 Collins Aerospace
13.2.12 Raytheon Intelligence & Space
13.2.13 Comnav Technology Ltd.
13.2.14 Muller-Elektronik GmbH
13.2.15 New Holland Agriculture
14 Adjacent & Related Markets
15 Appendix
15.1 Insights Of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store
15.4 Available Customizations
15.5 Related Reports
15.6 Author Details
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