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 modelling.
Sizing and Forecast
The mid-and high-level precision gps receiver market size has grown rapidly in recent years. It will grow from $3.19 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to environmental monitoring, space exploration advances, military applications, civilian navigation, surveying and mapping, precision agriculture.
The mid-and high-level precision gps receiver market size is expected to see rapid growth in the next few years. It will grow to $5.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to smart cities and infrastructure, telecommunications integration, internet of things adoption, rising autonomous vehicles. Major trends in the forecast period include technological advancements, real-time kinematics technology advancements, machine learning integration, integration of ai.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the mid-and high-level precision GPS receiver market in 2023. 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.
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Major Driver Impacting Market Growth
The rise in the construction industry is expected to propel the growth of the mid-and high-level precision GPS receiver market going forward. The construction industry is an area of science and trade that deals with building, repairing, remodeling, and maintaining structures. It includes constructing buildings, engineering projects, roadways, utility systems, and other specialized facilities. The use of GPS technology for equipment tracking in large-scale construction projects, such as civil construction sites and mega-projects, has raised the demand for GPS devices in the construction sector. For instance, in June 2023, according to a study provided by the United States Census Bureau, a US-based federal statistical system organization, overall construction spending in April 2023 is expected to be $1,908.4 billion, up 7.2% or $1,780.9 billion in April 2022. Furthermore, 1,406,000 new dwelling units were built in January 2023, representing a 12.8% increase over January 2022. Therefore, the rise in the construction industry is driving the growth of the mid-and high-level precision GPS receiver market.
Key Industry Players
Major companies operating in the mid-and high-level precision gps receiver market report are Stonex Group Inc., CNH Industrial N.V., Raytheon Technologies Corporation, Hexagon AB, Garmin Ltd., Valmont Industries Inc., Trimble Inc., MiTAC Holdings Corp., Topcon Positioning Systems Inc., u-blox AG, Hi-Target Surveying Instrument Co. Ltd., Raven Industries Inc., CHC Navigation Technology Ltd., AG Leader Technology Inc., Carlson Systems Holdings Inc., Septentrio N.V., Hemisphere GNSS Inc., NVS Technologies Inc., Javad GNSS Inc., Unicore Communications Inc., Swift Navigation Inc., Thales Group, Syntony SAS, SkyTraq Technology Inc., Geneq Inc., South Surveying & Mapping Technology Co. Ltd., Tersus GNSS Inc., Eos Positioning Systems Inc., NavtechGPS Inc., Satlab Geosolutions AB, Tallysman Wireless Inc.
The mid-and high-level precision gps receiver market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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