The Latest Gps Industry Statistics Explained
By 2027 the Global GPS Market is projected to reach USD 146.4 billion.
The statistic stating that “By 2027 the Global GPS Market is projected to reach USD 146.4 billion” indicates the anticipated total value of the Global Positioning System (GPS) market by the year 2027. This forecasted figure implies significant growth in the demand and adoption of GPS technologies across various sectors such as automotive, transportation, aerospace, and consumer electronics. The projected increase in market value signifies a growing reliance on GPS services for navigation, tracking, mapping, and other location-based applications worldwide, driven by advancements in technology, increased connectivity, and expanding digitalization trends. This statistic serves as a key indicator for stakeholders, policymakers, and industry players, highlighting the opportunities and economic impact associated with the evolving GPS market landscape.
In 2020, the global GPS market value was approximately USD 40.7 billion.
The statistic “In 2020, the global GPS market value was approximately USD 40.7 billion” indicates the total worth of the global GPS industry in terms of monetary value for the year 2020. This value represents the revenue generated from the sale of GPS devices, software, and services worldwide. The figure of USD 40.7 billion highlights the significance of GPS technology in various sectors such as navigation, logistics, transportation, and outdoor recreation. This statistic underscores the widespread adoption of GPS technology and its growing importance in our modern world, as businesses and individuals continue to rely on GPS for location-based services and solutions.
The GPS industry accounted for nearly 3.3 million jobs in the U.S. in 2017.
The statistic that the GPS industry accounted for nearly 3.3 million jobs in the U.S. in 2017 indicates the substantial economic impact and employment opportunities generated by the GPS sector within the country during that year. This figure reflects the diverse range of job roles and functions related to GPS technology, including manufacturing, research and development, sales and marketing, as well as the broader industry ecosystem. The significant number of jobs attributed to the GPS industry underscores its importance in driving economic growth and technological innovation within the U.S. labor market in 2017.
The average yearly growth of the GPS Market from 2020-2027 is projected to be 9.5%.
The statistic indicates that the GPS market is expected to experience an average annual growth rate of 9.5% from 2020 to 2027. This growth rate suggests that the overall market size of GPS products and services is anticipated to increase by 9.5% each year during this period. Such steady growth is a positive indicator of the increasing demand for GPS technology and applications in various sectors such as automotive, transportation, navigation, and logistics. The projection suggests that the GPS market is poised for expansion and offers opportunities for businesses operating within the industry to capitalize on this growth trend.
The railway applications sector of GPS holds roughly 21% of the worldwide GPS market.
This statistic indicates that the railway applications sector within the GPS industry commands a sizeable portion of the global GPS market share, with an estimated share of around 21%. This suggests that railway-related GPS technologies and services are significant players in the overall GPS market, catering to the needs of the railway industry for navigation, tracking, and other location-based applications. The fact that this sector accounts for approximately one-fifth of the market underscores its importance and relevance within the broader GPS industry landscape, highlighting the specific demand and adoption of GPS technologies within the railway sector worldwide.
Commercial GPS users contributed an estimated $1.4 trillion to economic activity in the U.S. between 1984-2017.
This statistic highlights the significant economic impact of commercial GPS (Global Positioning System) users in the United States over a span of 33 years from 1984 to 2017, estimating a total contribution of $1.4 trillion to economic activity. GPS technology has revolutionized industries such as transportation, logistics, agriculture, and telecommunications by providing accurate location and time information. Businesses rely on GPS for fleet management, route optimization, geolocation services, and more, leading to increased efficiency, productivity, and cost savings. The substantial economic contribution of commercial GPS users underscores the critical role that this technology plays in driving innovation, fostering growth, and supporting various sectors of the economy in the United States.
From 1996 to 2017, GPS added an estimated $395.2 billion in value to the U.S. GDP.
The statistic indicates that between the years 1996 and 2017, Global Positioning System (GPS) technology contributed an estimated $395.2 billion to the United States Gross Domestic Product (GDP). This value represents the economic impact of GPS technology on various sectors such as transportation, logistics, agriculture, and communication. GPS has enabled more efficient navigation systems, improved fleet management, precision agriculture practices, and increased productivity in various industries. The significant value added to the U.S. GDP highlights the importance of GPS technology in driving economic growth and innovation over the specified period.
Almost 3.37 billion GPS-enabled devices were used worldwide as of 2019.
The statistic that almost 3.37 billion GPS-enabled devices were used worldwide as of 2019 indicates the widespread adoption and integration of global positioning system technology into a variety of electronic devices. These devices include smartphones, tablets, navigation systems, fitness trackers, and other technological gadgets that rely on GPS for location tracking and services. The large number reflects the increasing reliance on GPS technology for various applications such as navigation, mapping, location-based services, and real-time tracking. The global reach of GPS-enabled devices signifies the significant impact and influence of this technology on modern society, shaping how people navigate and interact with the world around them.
In 2018, the GPS market in North America was worth over $35 billion.
The statistic “In 2018, the GPS market in North America was worth over $35 billion” refers to the total value of the market for Global Positioning System (GPS) products and services in North America during the year 2018. This value represents the combined revenue generated from the sale of GPS devices, software, services, and related technologies in the region. The substantial figure of over $35 billion highlights the significant size and economic importance of the GPS market in North America, indicating a high level of demand for GPS products and services among consumers, businesses, and government entities in the region during that year.
Asia Pacific GPS market is set to register over 15% CAGR between 2021 to 2027.
The statistic ‘Asia Pacific GPS market is set to register over 15% CAGR between 2021 to 2027’ indicates that the GPS market in the Asia Pacific region is projected to experience a compound annual growth rate (CAGR) of over 15% from the year 2021 to 2027. This suggests a strong and sustained growth trend in the adoption and utilization of GPS technology across various industries in the Asia Pacific region over the specified period. The high CAGR value indicates a significant increase in the market size and demand for GPS products and services, reflecting a positive outlook for companies operating in this sector and potential opportunities for investment and expansion.
The road segment holds the largest GPS market share with around 30.5% in 2019.
The statistic indicates that in 2019, the road segment had the highest market share among GPS providers, comprising approximately 30.5% of the overall market. This means that almost a third of GPS-related services and products were utilized for navigating on roads. The dominance of the road segment suggests that there is a significant demand for GPS systems geared towards motorists, transportation services, and individuals looking for navigation assistance while driving. This finding can be useful for businesses in the GPS industry to tailor their products and services to meet the specific needs of this segment and potentially capture a larger market share.
Over 2 billion people use GPS services worldwide.
The statistic ‘Over 2 billion people use GPS services worldwide’ indicates that a significant portion of the global population utilizes GPS technology for various purposes. GPS (Global Positioning System) is a satellite-based navigation system that provides location and time information to users anywhere on or near the Earth. The widespread adoption of GPS services reflects the increasing reliance on technology for navigation, location tracking, mapping, and other related applications in daily life. This statistic highlights the pervasive integration of GPS services into modern technology and emphasizes its impact on the way people navigate and interact with their surroundings on a global scale.
Militaries worldwide are the largest users of GPS systems.
The statement that militaries worldwide are the largest users of GPS systems can be explained by the widespread adoption of GPS technology in military operations for a variety of purposes. GPS technology provides accurate positioning, navigation, and timing information, which are critical for military activities such as troop movements, targeting, logistics, and intelligence gathering. The precision and reliability of GPS systems are especially valuable in modern warfare scenarios to enhance situational awareness and optimize tactical decision-making. As a result, militaries around the world heavily rely on GPS systems to enhance their operational capabilities, making them the largest users of this technology.
GPS systems contribute over 90% of smartphone location data.
The statistic stating that GPS systems contribute over 90% of smartphone location data indicates that the Global Positioning System (GPS) technology embedded within smartphones is the primary source of location information for these devices. This means that the GPS hardware and software components play a significant role in tracking and providing accurate location data for various applications and services on smartphones. Other sources of location data on smartphones, such as Wi-Fi or cellular network information, are likely contributing to a much lower percentage, highlighting the dominance of GPS systems in providing location services on mobile devices. This statistic underscores the reliance on GPS technology for location-based services and demonstrates the widespread adoption and integration of GPS capabilities within smartphones today.
The agriculture segment in the GPS market is projected to grow at a CAGR of above 10% during 2021-2027.
This statistic indicates that the agriculture segment within the GPS market is expected to experience significant growth over the period from 2021 to 2027, with a Compound Annual Growth Rate (CAGR) exceeding 10%. This suggests a strong and consistent increase in demand and adoption of GPS technology specifically within the agriculture industry. Factors contributing to this growth may include the increasing use of precision agriculture techniques, advancements in GPS technology tailored for farming practices, and the potential benefits such as improved crop yield, resource efficiency, and overall operational effectiveness for farmers and agricultural professionals. Overall, the projection of a CAGR above 10% signifies a promising outlook for the agriculture segment within the GPS market in the coming years.
The automobile industry makes up the largest segment of the GPS end-user market.
The statistic that the automobile industry makes up the largest segment of the GPS end-user market indicates that a significant portion of GPS devices are used in vehicles, such as cars, trucks, and other types of automobiles. This implies that the demand for GPS technology in the automotive sector is substantial, potentially driven by the growing need for navigation, tracking, and location-based services in vehicles. With advancements in automotive technology and the integration of GPS systems into modern vehicles for various purposes like real-time traffic updates, route optimization, and safety features, it is not surprising that the automobile industry emerges as the leading market segment for GPS technology adoption and usage.
GPS receiver sales are expected to surpass 1.5 billion by the end of 2021.
The statistic that GPS receiver sales are expected to surpass 1.5 billion by the end of 2021 indicates a significant growth and widespread adoption of GPS technology. This forecast suggests a strong demand for GPS receivers, likely driven by an increase in consumer use for navigation purposes, as well as the incorporation of GPS technology in various industries such as automotive, agriculture, and logistics. The predicted surge in sales reflects the essential role that GPS technology plays in modern society, enabling accurate positioning, tracking, and location-based services. The statistic also points towards the continuous advancement and integration of GPS technology in various applications, highlighting its ubiquitous presence in our daily lives.
Portable GPS devices for navigation have an installed base of 1.26 billion worldwide in 2018.
The statistic indicates that there were approximately 1.26 billion portable GPS devices being used globally for navigation purposes as of the year 2018. This suggests a widespread adoption of GPS technology across various regions and industries, such as automotive, aviation, marine, and outdoor recreation. The high installed base of GPS devices highlights their importance in providing accurate location information, route guidance, and other navigation services to users. This statistic underscores the significant role that portable GPS devices play in modern life, aiding in efficient transportation, logistics, and spatial awareness on a global scale.
The Location Based Services market, heavily reliant on GPS, is to reach USD 183.81 billion by 2027
The statistic that the Location Based Services market, which heavily relies on Global Positioning System (GPS) technology, is projected to reach USD 183.81 billion by the year 2027 indicates a substantial anticipated growth in the industry. Location Based Services use GPS and other similar technologies to provide personalized services based on an individual’s location, such as navigation, geotagging, and location-based advertising. The estimated market value reflects the increasing demand for location-based applications and services across various sectors such as transportation, healthcare, retail, and advertising. The growth forecast suggests a thriving market for businesses that offer location-based solutions, driven by advancements in technology and the expanding use of smartphones and other connected devices globally.
The surveying sector held almost 8.5% GPS market share in 2019.
The statistic “The surveying sector held almost 8.5% GPS market share in 2019” indicates that out of the total market for Global Positioning System (GPS) technologies in 2019, the surveying sector accounted for approximately 8.5%. This suggests that surveying companies and professionals were significant players in the GPS market during that year. It implies that a notable portion of GPS technology sales, usage, or advancements were driven by or utilized within the surveying industry. This statistic highlights the importance and influence of surveying activities on the GPS market landscape in 2019.
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