With a strong Compound Annual Growth Rate (CAGR) of 8.8%, the Mid- and High-level Precision GPS Receiver Market is expected to rise significantly, rising from USD 3.4 billion in 2024 to USD 5.2 billion by 2029. This prediction, which is supported by a thorough analysis by MarketsandMarketsTM, takes into account the expanding use and demand for mid- and high-level precision GPS receivers across a range of industries. The market analysis, which spans 2024 to 2029, offers insights into the variables influencing this growth, technical developments, and the market's projected trajectory.

Growing urban developments in emerging nations, a rising focus on precision agriculture, and the integration of automation across many industries are driving significant growth in the Mid and High-level Precision GPS Receiver Market. The growing requirement for precise location-based information has led to an increase in the need for dependable and accurate GPS receivers. The market's growth trajectory is, however, limited by issues relating to security concerns in key applications and the sluggish adoption of new technology. Notwithstanding these obstacles, the market is anticipated to flourish because GPS technology is still being developed and has a wide range of uses in many industries.

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Mid and High-Level Precision GPS Receiver Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 3.4 billion

Estimated Value by 2029

$ 5.2 billion

Growth Rate

Poised to grow at a CAGR of 8.8%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Functional Deployment, Frequency Type, End-user Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Interference and signal degradation in urban areas

Key Market Opportunities

Expanding adoption of GPS receivers in autonomous driving

Key Market Drivers

Rising demand for geographic information systems

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The surveying and mapping segment is expected to dominate in the forecasted period.

In the near future, the surveying and mapping sector of the Mid and High-level Precision GPS Receiver Market is expected to experience steady expansion. One major factor driving the rising need for accurate surveying and mapping tools is the increased emphasis on substantial infrastructure development across the globe, including urban planning, transportation, and environmental monitoring. great-scale infrastructure projects are made easier to design and carry out thanks in great part to GPS receivers' precision in gathering geospatial data. As long as countries prioritise effective urban and environmental management, this tendency should continue.

The construction segment is anticipated to dominate during the forecast period.

Throughout the forecast period, the construction industry is expected to dominate the Mid and High-level Precision GPS Receiver Market due to a number of important aspects. Important factors include the increasing uptake of self-driving technologies, rising urbanisation rates, and large investments in infrastructure development in many different countries. Accurate geospatial data is more important than ever for construction projects since urbanisation is speeding up and there are more infrastructure projects being built worldwide. As essential equipment for critical operations such as surveying, grading, and site planning, high-precision GPS receivers confirm the segment's leading position in the market.

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North America to dominate the mid and high-level precision GPS receiver industry during the forecast period.

Many of the top businesses in the mid- and high-level precision GPS receiver market, including Trimble, Inc., Hemisphere GNSS, Inc., Javad GNSS Inc., and Geneq, Inc., have their headquarters in North America. Mid- and high-precision GPS receivers are widely used in the oil and gas and construction industries, among other various economic sectors, in the region. The growing need for GPS receivers in precision farming applications—such as yield monitoring, field mapping, and autosteering—is propelling the market's expansion in North America. Furthermore, the region's market is continuing to grow as a result of the widespread deployment of autonomous systems in sectors including mining, agriculture, and construction.

Key players

The mid and high-level precision GPS receiver companies includes significant Tier I and II players like 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) are some of the key players in the mid and high-level precision GPS receiver market.

News Covered:

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