Global Positioning System (GPS) provides unequaled accuracy and flexibility of positioning for navigation, surveying and geographic information system (GIS) data capture. Its growing use in automotive and consumer applications is propelling the market for mobile location technologies. Although standalone products are quite popular, the most common applications are built around Portable Navigation Devices (PNDs), mobile phones, or car navigation systems. Moreover, the technology is fast gaining acceptance worldwide, as it is penetrating into previously untapped areas.
GPS companies, both local and international, are competing to grab a piece of this market, especially in logistics for tracking cargo and trucks across India. Lately, the GPS market has started picking up in the country and competition between GPS device providers such as Garmin and inbuilt GPS provider in phone like Nokia has begun. Along with this, we already have maps and static navigation systems available for free or at cheap rates.
Globally, the GPS market is expected to exceed $30 billion in this financial year, as the market is being flooded by a number of affordable GPS components and receivers. As far as the Indian market is concerned, a relatively large number of players have entered the navigation market, which in turn depicts that the potential for development in the market is significant and that the industry will surge in years to come.