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April 24th, 2013
Global GNSS Market to Grow at a CAGR of 20.98 Percent

According to TechNavio analysts, ”One of the major trends being witnessed in the Global navigation satellite system (GNSS) market is the increase in the replacement of PNDs with smartphones. The demand for personal navigation devices (PNDs), which was high initially, is currently declining as a result of their being gradually phased out by the increased usage of smartphones. Smartphones, particularly iPhones and those driven by Android, now have integrated mapping and navigation features. These features are not chargeable, which makes them more attractive to end-users. PNDs are currently still popular in North America and some parts of the EMEA region; however, the market penetration of smartphones with navigation capabilities is increasing rapidly and it is expected to overtake the penetration of PNDs even in these regions in the near future.”

The main factor driving the demand for GNSS is the increasing popularity of LBS, which are information services used by advertising professionals to promote location-specific products and services. Location-based Services (LBS) are highly beneficial not only to advertising professionals, who can efficiently promote their products and services, but also to the end-users of the products, who can reap the benefits of regional offers.