Global Positioning System is creating one of the biggest market ,it is expected to touch $69,658m by 2012
By ajay at November 15, 2009 | 9:38 pm | Print
According to market research firm RNCOS,Global Positioning System is creating one of the biggest market and its growing use in automotive and consumer applications is increasing the mobile location technologies market, which is assumed to grow at a compounded annual growth rate of more than 20 percent to cross $75 billion by 2013.
The RNCOS research also confirm that 2009 has been crucial for the overall development of GPS industry in regions such as North America and Europe owing to the current economic market turmoil. Few other contries are also emerging like India and China will continue to see rapid growth in the adoption of GPS technology with the launch of low cost GPS-enabled mobile handsets in these countries.
According to TechNavio, the global GPS market will continue to grow and it is expected to touch $69,658m by 2012 from 27,470m in 2008; growing at a CAGR of 26 percent. BCC Research Analysis projects global market for mobile location technologies worth $48.8 billion by 2012.