GPS Market Size, Share, Growth Analysis, By Type(Automotive Telematics Systems, Consumer Devices, Advanced Tracker, Portable Navigation Devices), By Industry(Construction, Metals & Mining, Oil & Gas, Transportation & Logistics), By Region - Industry Forecast 2024-2031

In 2021, North America dominated the global GPS market. It is predicted that North America would keep dominating the global GPS market during the forecast period. The region has already established its control over the market in recent years, largely as a result of rising demand for high-end navigation and increased use of advanced technologies. For the foreseeable future, the regional market is expected to benefit from about the same growth sources. Due to a rise in the use of GPS technology in the transportation, logistics, and healthcare sectors, North America now dominates the industry. Additionally, high military spending penetration by regional governments and regulatory agencies as well as rising mobile device penetration are factors contributing to the rise in demand for the GPS market. To compete in the area, several important firms in the region are also making significant investments in the creation of technology-based products and collaborating with others.

Because of the rapidly increasing use of smartphones in South Korea and China, it is predicted that the Asia Pacific will grow at a faster rate than the North American region. Due to the increasing demand for anti-poaching patrols monitoring the region, Asia-Pacific is anticipated to have a substantial increase during the forecast period. The availability of high-end military applications is expected to significantly increase the demand for GPS in Europe.