Global Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market – Industry Trends and Forecast to 2029

Market Analysis and Size

An increase in the adoption of the survey grade in industries such as construction and agriculture, among others as it offers accurate positioning. The mid-and high-level precision GPS receiver are widely being utilized to survey markers, and buildings and position road construction. They are effective in achieving constant network accuracy in static mode or real time.

Global Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market was valued at USD 2.93 billion in 2021 and is expected to reach USD 10.08 billion by 2029, registering a CAGR of 16.70% during the forecast period of 2022 to 2029. Survey Grade accounts for the largest application segment in the respective market owing to the use by professional surveyors for acquiring accuracy measurements of fixed locations. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

A GPS receiver refers to an L-band radio processor that is capable of solving the navigation equations for determining user location, velocity, precise time (PVT), and speed, by processing the signal broadcasted by GPS satellites. Mid and high-level precision GPS receivers are widely deployed in numerous industry verticals including mining, construction, agriculture, and oil and gas, among others.

Report Scope and Market Segmentation

Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in Construction Industry

The rise in the use of mid-and high-level precision GPS receiver in the construction industry is one of the major factors driving the growth of mid-and high-level precision global positioning system (GPS) receiver market. The GPS technology is widely being adopted in large-scale construction projects such as megaprojects for equipment tracking and civil construction sites.

• Availability of Low-Cost Sensors

The availability of various sensors such as load, temperature, and vibration accelerate the market growth. The on-going technological advancements in the semiconductor industry and intense competition among various manufacturers also drive the market growth.

• Use of Modern Technologies in Agricultural Products

The use of modern technologies such as variable rate technology (VRT), data management software, mapping software, yield mapping software, and GPS in agricultural products further influence the market. These technologies improve land fertility and profitability, maximize productivity, reduce the cost of farming and facilitate sustainable agriculture.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the mid-and high-level precision global positioning system (GPS) receiver market.

Opportunities

Furthermore, commercial use of unmanned aerial vehicles (UAVs), and technological advancements and GPS augmentation systems extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, continuous developments to improve overall GPS infrastructure will further expand the market.

Restraints/Challenges

On the other hand, low acceptance for new technologies and heavy reliance on availability of satellites are expected to obstruct market growth. Also, issues with interfacing of GPS signals with light squared signals and low demand for GPS receivers due to COVID-19 are projected to challenge the mid-and high-level precision global positioning system (GPS) receiver market in the forecast period of 2022-2029.

This mid-and high-level precision global positioning system (GPS) receiver market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on mid-and high-level precision global positioning system (GPS) receiver market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market

The COVID-19 had a negative impact on mid-and high-level precision global positioning system (GPS) receiver market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for industrial services market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the mid-and high-level precision global positioning system (GPS) receiver market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

• Hexagon AB | NovAtel launched MarinePak 7, a new marine-certified GNSS receiver in December’2020. It is specifically designed for nearshore application. The receiver is known to support SPAN GNSS+INS technology and Oceanix correction service.
• Trimble, Inc. unveiled the Trimble R12i GNSS receiver, a new addition to the GNSS portfolio in September’2020. The technology consists of an inertial measurement unit (IMU)-based tilt compensation that makes the use of Trimble TIP technology. It allows points to be measured or staked out while the survey rod is tilted.

Global Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market Scope and Market Size

The mid-and high-level precision global positioning system (GPS) receiver market is segmented on the basis of frequency type, type and industry. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Frequency Type

• Single Frequency
• Dual Frequency

Type

• Differential Grade
• Survey Grade

Industry

• Agriculture
• Mining
• Construction
• Oil and Gas
• Others

Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market Regional Analysis/Insights

The mid-and high-level precision global positioning system (GPS) receiver market is analyzed and market size insights and trends are provided by country, frequency type, type and industry.

The countries covered in the mid-and high-level precision global positioning system (GPS) receiver market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the mid-and high-level precision global positioning system (GPS) receiver market due to the gradual deployment of smart agriculture services within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the adoption of variable rate technology and smart irrigation controllers, and AI-based farm analytics services in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Mid-and High-Level Precision Global Positioning System (GPS) Receiver Market

The mid-and high-level precision global positioning system (GPS) receiver market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mid-and high-level precision global positioning system (GPS) receiver market.

Some of the major players operating in the mid-and high-level precision global positioning system (GPS) receiver market are

• AG Leader Technology Inc. (US)
• AGCO Corporation (US)
• AgJunction Inc. (Canada)
• AgEagle Aerial Systems, Inc. (US)
• Valmont Industries Inc. (US)
• Agsmart Pty Ltd (Australia)
• BouMatic (US)
• CROPMETRICS (US)
• Trimble Inc. (US)
• CropX Inc. (Israel)
• Deere & Company (US)
• Farmers Edge Inc. (Canada)
• GEA Group Aktiengesellschaft (Germany)
• Monsanto Company (US)
• Taranis (US)
• Precision Planting LLC (US)
• Raven Industries Inc. (US)
• Topcon (Japan)
• Tetra Laval International S.A. (Switzerland)
• Trimble Inc. (US)

SKU-68447