Global mid-and high-level precision gps receiver Market
Information Technology

What’s Driving Growth in the Mid-and High-Level Precision GPS Receiver Market? Insights into Key Trends and Opportunities

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What is the Anticipated CAGR of the Mid-and High-Level Precision GPS Receiver Market, and What Factors Will Drive It?

The mid-and high-level precision GPS receiver market has seen rapid growth in recent years. It is expected to expand from $3.51 billion in 2024 to $3.89 billion in 2025, with a CAGR of 11.0%. The historical growth of this market has been driven by environmental monitoring, advancements in space exploration, military applications, civilian navigation, surveying and mapping, and the increasing adoption of precision agriculture.

The mid-and high-level precision GPS receiver market is set for rapid expansion, reaching $6.21 billion by 2029, with a CAGR of 12.4%. This growth is attributed to smart city development, telecommunications advancements, widespread IoT adoption, and the rising prominence of autonomous vehicles. Leading trends include technological innovations, advancements in real-time kinematics (RTK) technology, machine learning integration, and AI applications in GPS solutions.

What External and Internal Drivers Are Contributing to the Growth of the mid-and high-level precision gps receiver Market’s Growth?

The expanding construction industry is expected to boost the mid- and high-level precision GPS receiver market. GPS technology plays a critical role in large-scale construction projects, such as roadways and mega-buildings, by tracking equipment. In June 2023, the United States Census Bureau reported a 7.2% increase in construction spending, with a projected $1,908.4 billion in total for April 2023. The growing construction sector is driving the demand for precision GPS receivers.

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Who Are the Top Companies Contributing to the Growth of the Mid-and High-Level Precision GPS Receiver Market?

Major companies operating in the mid-and high-level precision GPS receiver market include:

• Stonex Group Inc._x000D_

• CNH Industrial N.V._x000D_

• Raytheon Technologies Corporation_x000D_

• Hexagon AB_x000D_

• Garmin Ltd._x000D_

How Are Technological Trends Affecting the Growth and Development of the Mid-and High-Level Precision GPS Receiver Market?

Product innovations are a key trend in the mid- and high-level precision GPS receiver market. Companies are introducing new products to sustain their market position. For instance, in December 2022, ComNav Technology Ltd., a China-based GNSS manufacturer, launched the Universe Series GNSS Receiver. This innovative laser GNSS receiver enables rod-less surveying, integrating a millimeter-level laser distance meter into Venus, allowing it to replace the range pole. The device can handle jobs with 10 cm measurement accuracy, even with minor shaking, significantly expanding the operational area and improving efficiency and safety.

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Which Key Segments Define the Structure of the Mid-and High-Level Precision GPS Receiver Market and Their Growth Potential?

The mid-and high-level precision GPS receiver market covered in this report is segmented –

1) By Type: Differential Grade, Survey Grade

2) By Frequency Type: Single Frequency, Dual Frequency

3) By Industry: Agriculture, Mining, Construction, Oil And Gas, Other Industries

Subsegments:

1) By Differential Grade: Real-Time Kinematic (RTK) GPS, Post-Processed Kinematic (PPK) GPS

2) By Survey Grade: Static GPS, Networked GPS

What Are the Key Regions Powering Growth in the Mid-and High-Level Precision GPS Receiver Market?

Asia-Pacific was the largest region in the mid- and high-level precision GPS receiver market in 2024. The regions covered in the mid-and high-level precision GPS receiver market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Defining Features of the Mid-and High-Level Precision GPS Receiver Market?

A mid- and high-level precision GPS receiver, also known as a survey-grade GPS receiver, is an L-band radio processor capable of providing accurate position and timing information with a relatively high degree of precision. These receivers offer centimeter-level accuracy, making them suitable for applications that require precise measurements, such as differential GPS (DGPS) techniques, carrier phase processing, accurate orbit determination, and sophisticated error modeling.

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