Report: GPS Market To Hit $22B By 2008
Emerging applications using the Global Positioning System (GPS) and renewed growth in existing markets will help to expand the global GPS market beyond $22 billion by 2008, predicted ABI, a technology market research firm.
According to PBI Media, ABI reports that new applications on the rise include people-tracking, automatic vehicle location, asset tracking and recreational use. The industry has been given a boost by the Federal Communications Commission’s E911 emergency response requirements, mandating that wireless carriers provide the location of 911 callers. Equipment for the automotive and asset tracking segments will account for nearly 50 percent of the global GPS market this year and will continue to gain share through 2008, the company said.
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