Global Positioning Services Market Size, Share And Growth Analysis For 2024-2033

LONDON, GREATER LONDON, UK, July 24, 2024 /EINPresswire.com/ -- The positioning services market has experienced robust growth in recent years, expanding from $27.25 billion in 2023 to $30.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rapid urbanization, robust automotive industry, utilization of digital marketing and online channels, increasing reliance on location-based data, shifted focus towards the customers' perspective in product positioning.

Strong Future Growth Anticipated
The positioning services market is projected to continue its strong growth, reaching $51.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to growing emphasis on smart and connected technologies, expanding precision agriculture applications, increasing demand for geospatial imagery analytics, mapping, and GIS applications, integration of 5G networks, rise of e-commerce.

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Growth Driver Of The Positioning Services Market
The increasing number of autonomous vehicles is expected to propel the growth of the positioning services market going forward. Autonomous vehicles are self-driving vehicles that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing number of autonomous vehicles is due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Highly accurate and reliable positioning services are critical for developing and operating autonomous and self-driving vehicles, improving the functionality and safety of automotive vehicles.

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Major Players And Market Trends
Key players in the positioning services market include Stonex Group Inc., Qualcomm Inc., Honeywell International Inc., Broadcom Inc., Texas Instruments Inc., STMicroelectronics NV.

Major companies operating in the positioning services market are developing innovative solutions such as GNSS Precise Point Positioning (PPP) services to enhance location-based applications' accuracy, reliability, and efficiency across various industries. GNSS Precise Point Positioning (PPP) is an advanced global navigation satellite system (GNSS) data processing technique that provides highly accurate location information by correcting various error sources in the GNSS signals.

Segments:
1) By Type: Indoor Positioning, Outdoor Positioning
2) By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
3) By End-User: Transportation And Logistics, Defense And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users

Geographical Insights: North America Leading The Market
North America was the largest region in the positioning services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the positioning services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Positioning Services Market Definition
Positioning services refer to technologies and systems that determine the geographic location or position of a device, object, or person. These services typically calculate the precise location coordinates expressed in latitude and longitude. Positioning services provide location information with varying degrees of accuracy, depending on the technology and environment.

Positioning Services Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Positioning Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on positioning services market size, positioning services market drivers and trends, positioning services market major players, positioning services competitors' revenues, positioning services market positioning, and positioning services market growth across geographies. The positioning services market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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