Mid and High-Level Precision GPS Receiver Market Size, Share & Trends

Updated on : Oct 22, 2024

Mid and High-Level Precision GPS Receiver Market Size & Share

The global mid and high-level precision GPS receiver market size was valued at USD  3.4 billion in 2024 and is estimated to reach USD 5.2 billion by 2029, growing at a CAGR of 8.8% during the forecast period from 2024 to 2029.

The rising automation in industries and increasing demand for precision GPS in construction industries have driven the demand for mid and high-level precision GPS receivers. Also, the expanding adoption of GPS receivers in autonomous driving is fueling the market's growth.

Mid and High-Level Precision GPS Receiver Market Forecast to 2029

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Mid and High-Level Precision GPS Receiver Market Trends

Driver: Rising demand for geographic information systems

The growing need for GIS applications is driving the mid and high-level precision GPS receiver industry, with applications spanning multiple industries. The integration of mid and high-precision GPS with GIS is notably expanding in sectors such as logistics and transportation.

Fleet management systems utilize GIS to streamline routes, track vehicle locations, and enhance overall transportation efficiency. The incorporation of high-precision GPS guarantees accurate positioning, substantially boosting the reliability of these systems in delivering timely and cost-effective logistics solutions. This integration underscores the pivotal role of high-precision GPS in augmenting GIS applications' functionality and efficiency across various industrial domains.

Restraint: Security concerns in critical applications

Security considerations concerning mid and high-level GPS receivers revolve around ensuring the precision and dependability of GPS signals, particularly in applications where accuracy is crucial. As GPS technology is more extensively incorporated into vital systems like autonomous vehicles, defense applications, and critical infrastructure, guarding against potential threats and vulnerabilities becomes of utmost importance. A notable security challenge lies in the risk of spoofing, wherein malicious entities create deceptive GPS signals to trick a receiver into furnishing inaccurate location information.

Opportunity: Expanding adoption of GPS receivers in autonomous driving

GPS technology is fundamental for autonomous vehicles to precisely ascertain their location, route, and speed, enabling them to function without human intervention. Essential for the advancement and deployment of autonomous driving systems, GPS receivers empower vehicles to navigate intricate routes, evade obstacles, and uphold a safe distance from other objects. These receivers collaborate with other sensors, including cameras, LiDAR, and radar, forming a comprehensive understanding of the vehicle's surroundings. This integrated sensor fusion allows autonomous vehicles to make real-time decisions, leveraging accurate positioning information.

Challenge: Interference and signal degradation in urban areas

In urban settings or areas marked by dense vegetation, towering buildings, or electromagnetic interference, signals transmitted by GPS satellites may face obstructions or reflections, resulting in a decline in signal quality. This occurrence can lead to inaccuracies in the positioning information provided by GPS receivers. Urban environments, characterized by intricate architectural structures and high population density, frequently present challenges for GPS signals to travel directly from satellites to receivers without encountering obstacles. Tall buildings, in particular, can cause signals to bounce off surfaces, creating multiple signal paths that reach the receiver. This multipath interference has the potential to introduce errors in the calculation of the receiver's position, impacting the overall accuracy of the GPS system.

Mid And High-Level Precision Gps Receiver Market Ecosystem

The mid and high-level precision GPS receiver market is consolidated, with major companies such as Trimble Inc. (US), Topcon (Japan), Hexagon AB (Sweden), Hemisphere GNSS Inc. (US), Javad GNSS (US), Geneq (Canada), South Surveying & Mapping Technology Co. Ltd. (China), Septentrio (Belgium), CNH Industrial N.V. (UK), Comnav Technology Ltd. (China) and numerous small- and medium-sized enterprises. Almost all players offer various products in mid and high-level precision GPS receivers. These products are used for construction, agriculture, transportation, mining and oil & gas industries.

Mid And High-Level Precision Gps Receiver Market Segment Analysis

Based on type, the differential grade segment is expected to grow fastest during the forecast period.

Differential-grade GPS receivers offer higher accuracy compared to standard-grade receivers. This level of precision is crucial for applications where precise location information is essential, such as in automotive navigation systems and mining operations. Differential-grade GPS receivers are becoming more prevalent in infrastructure development projects.

The construction industry, for example, relies on precise positioning for tasks like grading and surveying, driving the demand for high-precision receivers.

Based on the end-user industry, the agriculture segment is projected to grow fastest during the forecast period

The agriculture sector is rapidly adopting automation technologies to enhance efficiency and productivity. High-precision GPS receivers are integral components in automated agricultural machinery, enabling precise navigation, planting, harvesting, and other tasks.

Precision GPS receivers enable farmers to apply inputs precisely where they are needed, reducing over-application and minimizing the environmental impact of agricultural activities. This environmentally sustainable approach is gaining importance in modern agriculture. Moreover, Many governments recognize the importance of adopting advanced technologies in agriculture for food security and sustainability. Incentives and support programs for adopting precision farming technologies, including GPS receivers, contribute to the sector's growth.

Mid And High-Level Precision Gps Receiver Market Regional Analysis

Based on region, China in the Asia Pacific region is expected to dominate in the forecasted period

China emerged as the dominant player in the mid and high-level precision GPS receiver market, a trend expected to continue with the highest growth rate in the foreseeable future. This dominance is attributed to several factors. Notably, China has made substantial investments in both the development and implementation of the BeiDou system, aiming to provide global coverage encompassing positioning, navigation, and timing services. The country's active international collaboration in satellite technology further extends the global utilization of advanced technology, leading to an increased demand for GPS receivers across various industries. Furthermore, the ongoing urban development in China is contributing to the escalating demand for such technology.

Mid and High-Level Precision GPS Receiver Market by Region

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Top Mid And High-Level Precision Gps Receiver Companies - Key Market Players

The mid and high-level precision GPS receiver companies is dominated by a few globally established players such as

• Trimble Inc. (US),
• Topcon (Japan),
• Hexagon AB (Sweden),
• Hemisphere GNSS Inc. (US),
• Javad GNSS (US),
• Geneq (Canada),
• South Surveying & Mapping Technology Co. Ltd. (China),
• Septentrio (Belgium),
• CNH Industrial N.V. (UK),
• Comnav Technology Ltd. (China).

Mid And High-Level Precision Gps Receiver Report Scope

Mid and High-Level Precision GPS Receiver Market Highlights

This research report categorizes the mid and high-level precision GPS receiver market based on functional deployment, type, end-user industry, and region

Recent Developments in Mid And High-Level Precision Gps Receiver Industry

• In November 2023, Hexagon's Autonomy & Positioning division, in collaboration with Munhwa Broadcasting Corporation (MBC), announced their partnership to introduce accurate positioning to South Korea via the TerraStar-X Enterprise Correction Service.
• In October 2022, Septentrio announced the introduction of the AsteRx SB3 ProBase, a new version within its well-received ruggedized receiver lineup. The AsteRx SB3 ProBase is a GNSS base station receiver housed in an IP68 enclosure, incorporating the latest quad-constellation GNSS technology to ensure optimal quality measurements.
• In May 2022, Septentrio unveiled the introduction of two novel GNSS products designed for marine applications: AsteRx-U3 Marine and AsteRx-m3 Fg. These products provide precise positioning both near and offshore, offering centimeter-level RTK or utilizing the integrated Fugro PPP sub-decimeter subscription service. The delivery options include NTRIP internet or L-band satellite communication.
• In March 2022, Hemisphere GNSS launched the Vector VS-i8 Inertial Navigation System (INS). This inertial navigation system, the Hemisphere Vector VS-i8, is compact, lightweight, self-contained, and operates at all altitudes. It proves to be highly versatile and suitable for a diverse range of industrial applications where constant navigation information is essential.
• In January 2022, Hexagon's Autonomy & Positioning division announced the declaration of its collaboration with the Chinese positioning company Dayou. This partnership aims to introduce TerraStar X technology to the Chinese market, delivering rapid and precise point positioning (PPP) corrections for applications like autonomous vehicles and widespread use, including smartphones.
• In January 2022, Hemisphere GNSS (Hemisphere) unveiled a new Vega heading and positioning OEM board that incorporates the Lyra II and Aquila chipsets. The Vega 60 GNSS board is designed to seamlessly integrate into industry-standard 46 by 71mm form factors, featuring a 60-pin connector.

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