Emerging demand of devices to locate things, pet, family etc. is expected to boost the industry, says RNCOS in its latest research report.
Technology is infiltrating in day to day life from smart phones to fitness to new level of personal security and safety. With the application of global positioning system, GPS systems which were primarily used for military and civilian purposes are now used in other industries such as transportation, construction, farming and aerospace. Aimed at operating efficiency and reducing costs, GPS systems have helped improve safety and emergency response time. Owing to rise in use of wireless technology and growing popularity of location based smart phones across the globe, the GNSS industry is growing at a CAGR of 10% from 2016-2022.
The report “Global Navigation Satellite Systems Market Outlook 2022” highlights various trends such as Autonomous vehicles pushing GNSS industry, emergence of smart city concept etc. The next area of interest among companies is the rising demand for people and thing finders along with Indoor location based services. With the fast paced lives and growing population, customers have been looking for options to find people and things instantly, henceforth researchers have come up with various options of products and applications to attract people looking for locating needs.
With the gaining momentum in phenomenon of experimenting with the applications through various devices, players operating in the industry are working aggressively on innovation to cater to the need in the industry. The players are providing applications featuring paw tracker that uses GPS satellites to determine its location, online browser based application with light weight GPS tracking device to track people, pets etc.
GNSS tracking devices have been in demand and will continue to attract the market’s attention by providing various solutions for tracking purpose not limited to individual tracking, covert tracking, vehicle and fleet management, boat tracking but pets, personal belongings and even family members, thereby driving the overall industry and encouraging investments and competition in the market.
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