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[November 09, 2012]
Research and Markets: Global GPS IC Market 2011-2015 Report Discusses One of the Major Challenges Affecting the Growth of the Global GPS IC Market Is the Lack of GPS Accuracy
(M2 PressWIRE Via Acquire Media NewsEdge) Dublin - Research and Markets (
) has announced the addition of the "Global GPS IC Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global GPS IC market to grow at a CAGR of 7.5 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increasing use of GPS ICs in smartphones. The Global GPS IC market has also been witnessing the development of multifunctional GPS ICs. However, the lack of accuracy in GPS information could pose a challenge to the growth of this market.
Key vendors dominating this market space include Broadcom Corp., CSR Plc., Qualcomm Inc., and Texas Instruments Inc.
Other vendors mentioned in the report: Analog Devices Inc., Maxim Integrated Products Inc., and RF Micro Devices.
Commenting on the report, an analyst from TechNavio's Hardware team said: "The fast growth in the development of global positioning system (GPS) integrated circuits (IC) technology is a major trend in the Global GPS IC market. Vendors in the GPS IC market design the GPS ICs by focusing on all the requirements of the end-users. Technological advancements in GPS IC are in terms of improving the navigation capabilities along with adding extra features. With technological advancements, GPS devices are designed with communications and other technologies such as voice-guided in-car navigation, voice-guided navigation applications, people tracking, tracking and tracing (commercial applications), location-enabled search, and advertising." According to the report, the increasing demand for GPS ICs in smartphones is one of the major growth drivers for the Global GPS IC market. Currently, almost nine out of ten smartphones are GPS enabled and these devices are expected to contribute significantly to the overall revenue of the Global GPS IC market. With embedded GPS receivers and mapping services in smartphones, users are able to obtain real-time position tracking, text and voice-guided directions, and data on points of interest. Furthermore, the Global Smartphone market unit shipment is forecast to grow significantly over the period 2011-2015, which in turn will facilitate the growth in the Global GPS IC market.
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