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Global Positioning Services Market Size Forecast 2024 - 2033

17 Dec, 2024

What Is The Scope Of The Global Positioning Services Market?

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 provides data on the global positioning services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Positioning Services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.

What Are The Forecasted Market Size And Growth Rates For Global Positioning Services?

The positioning services market size has experienced significant growth recently, increasing from $27.25 billion in 2023 to $30.83 billion in 2024, reflecting a compound annual growth rate (CAGR) of 13.2%. This growth is largely attributed to factors such as rapid urbanization, a robust automotive industry, the utilization of digital marketing and online channels, and an increased reliance on location-based data, with a focus shifting towards the customers' perspective in product positioning. Looking ahead, the positioning services market is projected to continue its expansion, reaching $51.03 billion by 2028 at a CAGR of 13.4%. This anticipated growth is driven by an emphasis on smart and connected technologies, the expansion of precision agriculture applications, growing demand for geospatial imagery analytics, mapping, and GIS applications, the integration of 5G networks, and the rise of e-commerce. Key trends expected to shape the market include the adoption of GPS technology, advancements in automotive navigation, positioning technology, satellite technology, and other technological advancements.

What Factors Are Driving Growth In 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 use advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention. This growth is driven by advancements in AI and sensor technology, as well as substantial investments and support from private companies and governments aimed at enhancing transportation safety and efficiency. Highly accurate and reliable positioning services are crucial for the development and operation of autonomous vehicles, as they improve functionality and safety. For example, in December 2022, the National Association of Insurance Commissioners, a US-based non-profit organization, projected that there would be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles is expected to drive the positioning services market, which is projected to reach $M billion in 2023, $N billion in 2024, and $O billion in 2028.

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What Are The Main Segments Of The Global Positioning Services Market?

The positioning services market covered in this report is segmented –
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, Defence And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users

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What Emerging Trends Are Influencing The Growth Of The Positioning Services Market?

Leading companies in the positioning services market are advancing GNSS Precise Point Positioning (PPP) services to enhance accuracy, reliability, and efficiency in location-based applications. In July 2021, Fugro launched the SpaceStar GNSS PPP service, providing high-accuracy positioning for Low Earth Orbit (LEO) satellites. This service delivers sub-decimetre absolute positioning and nanosecond-level timing, supporting space situational awareness, precise thruster optimization, and enhanced Earth observation applications.

What Is The Largest Region In The Positioning Services 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.