World News: Global market for mobile location technologies worth $48.8bn by 2012

World News:  Global market for mobile location technologies worth $48.8bn by 2012

According to a new report from BCC Research, the global market for mobile location technologies will be worth $23.2 billion in 2007, and more than $48.8 billion by 2012, a compound annual growth rate of 16.1%.

The market is split into applications of vehicle navigation, surveying & mapping, machine control, and others. Of these, vehicle navigation has the largest share of the market. Valued at nearly $15.5 billion in 2007, this segment is expected to be worth $38.2 billion by 2012, a CAGR of 19.8%.

The vehicle navigation share of the total market should grow from 67.9% in 2006 to 78.2% in 2012, mainly due to expanded use of PNDs. Most other segments, with the exception of recreation and fitness, are expected to lose market share from 2006 to 2012, while continuing to grow in absolute terms.

The second largest segment, surveying & mapping, was worth an estimated $2 billion in 2007 and is expected to reach $3.2 billion by 2012.

Machine control, currently a $1.1 billion segment, will be worth $2.1 billion in 2012, a CAGR of 13.4%.

While GPS launched the mobile location market, almost 75% of all applications today use either augmented GPS technologies such as the Wide Area Augmentation System (WAAS) or hybrid systems like wireless assisted-GPS (WA-GPS). By 2012, augmented and hybrid satellite location technologies is projected to hold an 84.1% share of the market.

The US is expected to retain its position as the world’s biggest market for mobile location technologies through 2012. Otherwise, Western Europe should replace Japan as the second-largest geographical market.

As a group, markets outside the US, Western Europe and Japan are projected to increase their global market shares to 20% by 2012.

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