Mobile location technologies to generate $23.2 bln by 2007
Global market for mobile location technologies will be worth $23.2 bln in 2007, BCC Research says. This is expected to increase to over $48.8 bln by 2012, a compound annual growth rate (CAGR) of 16.1%. The market is broken down into applications of vehicle navigation, surveying and mapping, machine control and others. Of these, vehicle navigation has the largest share of the market. Valued at nearly $15.5 bln in 2007, this segment is expected to be worth $38.2 bln 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 greatly expanded use of portable car navigation devices. 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 and mapping, was worth an estimated $2 bln in 2007 and will reach $3.2 bln by 2012. Machine control is currently a $1.1 bln segment that will be worth $2.1 bln in 2012, a CAGR of 13.4%.