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Gps market penetration

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GPS Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2023

Gps market penetration
Gps market penetration
Gps market penetration
Gps market penetration
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Global Positioning Systems Market | GPS Industry Report,

It is anticipated to progress at a CAGR of Increasing penetration of smartphones along with rising GPS-enabled vehicles is projected to bolster the growth of the market during the forecast period. Moreover, surging use of social media across developing countries and a high number of mergers and acquisitions between component manufacturers and integrators are poised to stoke the growth of the global positioning systems market. Nowadays, global positioning system has become a common tool used for navigation. The past couple of years have witnessed a rise in use of GPS-enabled smartphones. Growing adoption of e-hailing services across the globe is further likely escalate the demand for GPS-enabled smartphones.
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GPS Market Size Worth $146.4 Billion By 2025 | CAGR: 18.4%

Car GPS Navigation System Market receive signals from navigation satellites, which assist in vehicle tracking and positioning. These signals are received from multiple satellites thereby helping in precise positioning of the vehicle. The car GPS navigation system includes range of functionalities such as record, save music, and operate climate control functions if equipped in car. The GPS navigation systems are largely used by the transportation and logistics industry.
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The factors that are driving the growth of market include the increasing sales of commercial vehicles, small farm factor, affordable price, and high ROI. The advance GPS trackers are being used by various fleet management services providers to offer superior services beyond vehicle tracking and tracing. Fleet owners are interested in increasing operation efficiency to achieve higher ROI. However, the availability of advanced data analytics tools further favors their demand. The growth of these devices is driven by the growth of commercial fleet management and declining prices of GPS trackers.
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