TechNavio today launched its report Global GPS IC Market 2011-2015 based on an in-depth analysis covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Hardware team said: ”The fast growth in the development of global positioning system (GPS) integrated circuits (IC) technology is a major trend in the Global GPS IC market. Vendors in the GPS IC market design the GPS ICs by focusing on all the requirements of the end-users. Technological advancements in GPS IC are in terms of improving the navigation capabilities along with adding extra features. With technological advancements, GPS devices are designed with communications and other technologies such as voice-guided in-car navigation, voice-guided navigation applications, people tracking, tracking and tracing (commercial applications), location-enabled search, and advertising.”
According to the report, the increasing demand for GPS ICs in smartphones is one of the major growth drivers for the Global GPS IC market. Currently, almost nine out of ten smartphones are GPS enabled and these devices are expected to contribute significantly to the overall revenue of the Global GPS IC market. With embedded GPS receivers and mapping services in smartphones, users are able to obtain real-time position tracking, text and voice-guided directions, and data on points of interest. Furthermore, the Global Smartphone market unit shipment is forecast to grow significantly over the period 2011-2015, which in turn will facilitate the growth in the Global GPS IC market.
Further, the report discusses that one of the major challenges affecting the growth of the Global GPS IC market is the lack of GPS accuracy.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://goo.gl/lEWbs
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Hardware market research, please visit https://www.technavio.com/hardware
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TechNavio Announces the Publication of its Research Report – Global GPS IC Market 2011-2015
