Mobile Positioning System Market will grow at 7.8% CAGR to exceed $ 58.48Bn Globally by 2022

Press Release   •   Jan 15, 2018 07:10 EST

Mobile positioning systems play an important role to assist in locating locations of mobile devices over networks such as 2G, 3G, and 4G/LTE. In the digitally advanced world, the number of mobile devices is increasing very vastly, the demand for establishing mobile locations is increasing day by day from authorities and from consumers. Location coordinates is a very important information in consumer services like search engines, navigation, social media, and advertising. For authorities and officials, tracking mobile locations is critical for tracking the location of emergency calls, for machine-to-machine and road-traffic management purposes.

According to the report, the global mobile positioning system market was valued at around USD37.26 billion in 2016 and is expected to reach approximately USD 58.48 billion in 2022, growing at a CAGR of 7.8% between 2017 and 2022.

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Increasing demand for high security across the globe due to rise in terrorist and other criminal activities is driving the demand for the mobile positioning system. In coming years, the rapidly growing need for efficient transportation is another major factor which is anticipated to drive the market for the mobile positioning system. Further, the development and growing acceptance of new technologies are also expected to magnify the adoption of mobile positioning systems. For instance, increasing usage of the internet of things (IoT) devices for different application such as public safety and emergency response, positioning guide, social demand, market promotion demand, and large data applications will fuel the demand of mobile positioning system market. However, high cost for deployment of mobile positioning systems is restraining the growth of the market.

Mobile positioning system market is segmented on the basis of application and region. Application wise the market is segmented into mapping and surviving, live tracking of objects, vehicles, and others. Location-based services and emergency call positioning are driving the development of mobile positioning systems in wireless networks. Global navigation satellite system (GNSS, for example, GPS) – enabled terminals can determine outdoor positions accurate up to few meters. A plethora of applications and services take advantage of such accurate positioning. Deployment of the mobile positioning system in vehicles is expected to surge demand in this market. Vehicle navigation technology is playing a cog role in current transportation systems that make it the leading application segment for this market.

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North America held the largest revenue share in 2016 owing to high adoption rates of innovative new technologies in this region. Asia Pacific exhibits the signs of being the fastest growing regional segment for the mobile positioning market. Traction for mobile positioning systems is growing in this region with developing transportation industry and increasing awareness for safety in emerging nations such as China and India. Further, Latin America has next expected the potential market for a mobile positioning system, due to the increase in competition between telecom operators in this region. Market players in the positioning system market are mainly focusing on research and development to enhance accuracy and customer value addition. Manufacturers tend to collaborate with smartphone manufacturers to take advantage of the growing cellular phone industry.

Zebra Technologies Corp, Topcon Positioning Systems, Inc., Raytheon Co, Ericson, ByteLight, Senion AB, Navcom Technology, Inc, Panasonic Corp., Fei-Zyfer, Inc., and Freeflight Systems, Inc. among others are some of the major players in the global mobile positioning system market.

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