$ 83.08 Million Growth in Global GPS Market | Europe will occupy 30% of the world market share

One of the main growth drivers of this market is the increasing investment in the deployment of satellites. Furthermore, factors such as increasing demand for personal and corporate navigation services and increasing investments in LTE networks will have an accelerating effect on market growth during the forecast period. However, connectivity issues with GPS, fleet management system security issues, and poor navigation data accuracy and reliability will challenge the growth of the market.

Technavio expects the global GPS market size to grow by $ 83.08 million between 2021 and 2026. However, the growth momentum is expected to slow to a CAGR of 17.98% during the forecast period.

GPS Market: Segment Highlights

  • By application, the report segments the global GPS market by logistics and transportation, construction and mining, etc.
  • The adoption of GPS solutions is maximum in the logistics and transport sector.
  • Market growth in logistics and transportation segment will be significant during the forecast period.

Regional analysis

  • 30% of the growth will come from the European region.
  • The region will generate maximum income and growth opportunities for market vendors during the forest season.
  • Market growth in Europe is driven by the increase in vehicle production and the introduction of strict regulatory standards.
  • Germany and France are the key markets for GPS in Europe.
  • Market growth in this region will be slower than market growth in other regions.

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  • The size of the GPS market is expected to decelerate to a CAGR of 17.98% during the forecast period.
  • The GPS market is segmented by application (logistics and transportation, construction and mining, and others) and geography (Europe, North America, APAC, MEA and South America).
  • The market is fragmented due to the presence of many established suppliers holding a significant market share.
  • The research report provides information on several market vendors including Avidyne Corp., Broadcom Inc., Garmin Ltd., Hexagon AB, MiTAC Digital Technology Corp., Qualcomm Inc., Raytheon Technologies Corp., Texas Instruments Inc., TomTom International BV, and Trimble Inc.

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Associated reports:
GPS Trackers Market by End User and Geography – Forecast and Analysis 2021-2025

Digital Map Market by Application, Use, and Geography – Forecast and Analysis 2021-2025

Scope of the GPS market

Cover of the report


Page number


Year of reference


Forecast period


Growth dynamics and CAGR

Deceleration to 17.98% CAGR

Market growth 2022-2026

$ 83.08 million

Market structure


Annual growth (%)


Regional analysis

Europe, North America, APAC, MEA and South America

Efficient contribution to the market

Europe at 30%

Main consumer countries

United States, Germany, France, China and Japan

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Avidyne Corp., Broadcom Inc., Garmin Ltd., Hexagon AB, MiTAC Digital Technology Corp., Qualcomm Inc., Raytheon Technologies Corp., Texas Instruments Inc., TomTom International BV and Trimble Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.


If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

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SOURCE Technavio

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