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GPS Receiver Market for Mid/High Level RTK Precision - Key Revenue Pockets
The recent economic slowdown drastically affected the mid and high level precision GPS receiver market. However, the market is growing rapidly, with new markets, products, and geographies offering huge growth potential. The emergence of Real Time Kinematics (RTK) has brought new efficiencies and opportunities for the high precision GPS receiver market players. Flexible GPS receivers, which are compatible with many constellations such as GLONASS, BeiDou, and the likes, are needed to support the increasing penetration of augmentation technologies such as RTK. The mid and high level GPS receiver are used in many sectors such as precision farming, mining, construction, oil & gas, and others. Out of these sectors, the construction sector has captured the majority of the mid and high level precision GPS receiver market followed by the precision farming sector.
GPS receivers are increasingly being used by the construction sector in various regions; this is a rapidly growing sector which is witnessing intense competition. Trimble Navigation Ltd. (U.S.), Altus Positioning Systems (U.S.), Javad GNSS, Inc. (U.S.), and Beijing UniStrong Science & Technology Co., Ltd. (China) are some of the key players in this sector. The use of GPS for construction purposes is increasing in the APAC and ROW regions. Construction is one of the major sectors which contribute significantly to the GDP of a country. Most companies in this sector aim to use the latest GPS technologies to improve their services. GPS products are in demand in construction companies in various applications including tracking system for timely delivery of the construction material, vehicle tracking software to track the mileage, speed, engine hours, and others.
Over the past two decades, larger and faster farming machines have been developed, which have the capability to manage large agricultural fields. Farmers have been treating large fields as uniform elements for decades; however, this attitude has been changing in the past five to ten years and a new method of farming called ‘precision farming’ has emerged. Based on site-specific methods, precision farming entails studying and managing the variations within the farms that can affect the yield production. The major applications in the precision farming market include automatic steering systems, GPS guidance systems, yield monitoring, variable rate applications, and precision seeding systems. All these applications of precision farming need high level precision GPS solutions, thus precision farming is one of the leading sectors in this market.
GPS Receiver Market for Mid/High Level RTK Precision by Type (Differential Grade and Survey Grade), Application (Precision Farming, Mining, Construction, Oil & Gas) and Geography - Global Forecast to 2020
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