Mobile Positioning System Market Size, Share, Trends, Growth and Forecast 2032

Mobile Positioning System Market Insights

Zion Market Research has published a report on the global Mobile Positioning System Market, estimating its value at USD 63.23 Billion in 2023, with projections indicating that it will reach USD 136.88 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 8.96% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Mobile Positioning System Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Mobile Positioning System Market: Overview

The global marketplace for mobile positioning systems is predicted to witness exponential growth over the approaching years due to the growing demand for top security across the world concerning an alarming rise in terrorist and other criminal activities. The rapidly growing need for efficient transportation is additionally another primary factor that's expected to drive the marketplace for mobile positioning systems over the upcoming years. The event and growing acceptance of the latest technology is additionally expected to magnify the adoption of the mobile positioning system. However, the expansion of the market is predicted to be challenged by the high cost of deployment of mobile positioning systems.

Over the coming years, players are expected to take up partnerships and mergers and acquisitions as their key strategy for business development. Citing an instance, in February 2018, reports stated that the government of India will make the Global Positioning System mandatory in mobile devices.  Sources cite that the decision is aimed at enabling the state authorities to equip the mobile devices with panic buttons for helping women in distress. The strategic move is likely to boost the expansion of the mobile positioning system market size in India and across the world.

COVID-19 Impact Analysis

Currently, the demand for mobile positioning systems is on the increase during the COVID-19 pandemic. However, this requirement is probably going to be hindered thanks to reductions within the budgets of electronics companies due to partial lockdowns imposed worldwide. The lockdowns have caused severe losses to the worldwide industry players and placed restrictions on public gatherings at international events, theaters, concerts, and music festivals, which is hindering the market growth. Furthermore, the market is indicating a big recovery rate, mainly attributed to the remote working policies adopted by many industry players to stop the spread of COVID-19 at workplaces. The industry is, however, expected to face challenges within the future due to the consequences of COVID-19.

Mobile Positioning System Market: Growth Factors

Massive security requirements across the world alongside the acceptance of recent vehicle transport systems in developed economies are anticipated to drive mobile positioning system market value within the years ahead. Aside from this, government initiative for public safety with an increase in incidences of terrorist & criminal activities is predicted to propel the demand for the mobile positioning system market within the years ahead.

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Mobile Positioning System Market: Report Scope

Mobile Positioning System Market: Segment Analysis

The applications of mobile positioning systems include mapping and surviving, live tracking of objects, security, and vehicles among others. The massive scale deployment of the mobile positioning system in vehicles is anticipated to bode well for the expansion of the market. Vehicle navigation technology has been inseparably linked to the present transportation systems, thus making it the leading application segment.

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Mobile Positioning System Market: Regional Segment Analysis Preview

Regionally, North America has been leading the worldwide mobile positioning system market and is anticipated to continue on the dominant position within the years to return. The massive penetration of smart mobile equipment like smartphones and smart wearable devices alongside the acceptance of the latest technologies by market players across the region is that the main factor behind the dominance of the North American mobile positioning system market. The high number of market players being headquartered in North America is another significant factor that's supporting the expansion of this regional mobile positioning system market.

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Mobile Positioning System Market: Competitive Landscape

The key companies operating in the Mobile Positioning System market include-

• Zebra Technologies Corp
• Topcon Positioning Systems
• Raytheon Co
• Ericson
• Panasonic Corporation
• Fei-Zyfer Incorporation
• Freeflight Systems Incorporation

The global Mobile Positioning System Market is segmented as follows:

By Application

• Mapping and surviving
• Live tracking of objects
• Vehicles 
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa