Global Positioning Systems (GPS) Market: Growth Trends, Opportunities, and Forecast 2023-2030
The global positioning systems market size is expected to reach USD 311.82 billion by 2030, registering a CAGR of 16.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Burgeoning popularity of location-based services such as online food delivery and e-hailing services are projected to create significant demand for GPS-enabled devices over the forecast period. Furthermore, increasing use of GPS devices for navigation purposes in military aircraft and navy ships is poised to propel the market. Global positioning systems are satellite-based navigation systems that provide real-time location of objects. GPS is widely used in a variety of civil applications, including road transportation, shipping, rail transportation, heavy vehicle guidance, surveying and mapping, social activities, and financial services. GPS transmitters use data to provide exact location of the object. Moreover, a GPS can work in any weather condition that makes it...