Global Positioning System or GPS is a system of satellites orbiting around the earth and broadcast time through radio signals that are based on the internal atomic clock. GPS devices receive the signals from satellites. Then by measuring the time the signal took to reach the device, it can calculate the existing position of the entity in question.
Currently, in US around 1.8 million wireless/GPS devices are employed to monitor trailers, mobile workers, fleet vehicles and construction equipment. The mobile applications that are based on GPS currently has a share of approx $ 1 billion in yearly revenue for MRM applications and equipment's suppliers and operators of wireless network. This share is anticipated to increase sharply.
The majority market of fleet management is under wireless/GPS devices. Long haul and local fleet AVL (Automatic Vehicle Location) markets use devices that are wireless/GPS installed. Though the total number of US fleet vehicles that are AVL systems equipped has increased significantly, the overall market penetration is still below 10%.
A huge investment is need to be made in the sectors of automotive and asset tracking equipment in global market for GPS. This share would continue to increase till the decade end. The markets for people tracking, handset and GPS integrated circuits (Ics) would also rise sharply. Though the unit growth would be very sturdy in GPS market, the continued pressure of pricing for Ics would disturb the revenue growth.
The next-gen GPS system that is under-design will launch new and advanced capabilities to meet the higher demands of civilian and military users. The system will make its debut in market by the start of second decade of 21st century.
