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Global Handheld GPS Market Status (2024 - 2031) And Forecast By Region, Product & End - Use

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Handheld GPS Introduction

The Global Market Overview of "Handheld GPS Market" offers a unique insight into key market trends shaping the industry world-wide and in the largest markets. Written by some of our most experienced analysts, the Global Industrial Reports are designed to provide key industry performance trends, demand drivers, trade, leading companies and future trends. The Handheld GPS market is expected to grow annually by 11% (CAGR 2024 - 2031).

Handheld GPS refers to a portable electronic device that uses satellite technology to determine precise location and provide navigational information. The purpose of handheld GPS is to assist users in getting accurate directions, tracking their movements, and finding points of interest while on the go.

The advantages of handheld GPS include its compact size, ease of use, and ability to work in remote locations without the need for cell service. It can be used for hiking, camping, fishing, boating, and other outdoor activities where traditional maps may not be readily available. Additionally, handheld GPS devices often come with features such as geocaching, waypoint marking, and tracking capabilities.

The growing popularity of outdoor activities and the increasing demand for navigation tools have a positive impact on the handheld GPS market, leading to the development of more advanced features and improved technology within these devices.

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Market Trends in the Handheld GPS Market

1. Integration of Augmented Reality (AR) technology: Handheld GPS devices are incorporating AR features, enhancing the user experience by overlaying digital information on real-world environments.

2. Improved mapping and navigation accuracy: Advancements in satellite technology and software algorithms are enabling more precise location tracking and route planning.

3. Enhanced connectivity options: Handheld GPS devices are offering increased connectivity options, such as Bluetooth and Wi-Fi, allowing for seamless data transfer and sharing.

4. Growing demand for outdoor recreation: The rising popularity of outdoor activities like hiking, camping, and geocaching is driving the demand for handheld GPS devices with specialized features.

5. Industry disruptions from smartphone apps: While smartphones with GPS capabilities pose a threat to the handheld GPS market, manufacturers are innovating by offering unique features and durability to maintain market growth.

Market Segmentation

The Handheld GPS Market Analysis by types is segmented into:

  • General Handheld GPS
  • Wireless Intercom Handheld GPS
  • Digital Map Handheld GPS
  • Others

The types of handheld GPS devices that are currently available in the market include general handheld GPS, wireless intercom handheld GPS, digital map handheld GPS, and others. These devices help in boosting the demand of the handheld GPS market by offering various features such as accurate navigation, real-time tracking, communication functionalities, and access to detailed maps. Customers are drawn to these devices for their portability, ease of use, and advanced technology, making them popular for outdoor activities, navigation, and emergency situations.

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The Handheld GPS Market Industry Research by Application is segmented into:

  • Outdoor Sports
  • Outdoor Recreation
  • Marine Navigation
  • Others

Handheld GPS devices are widely used in outdoor sports, outdoor recreation, marine navigation, and several other applications. In outdoor sports, GPS devices help track routes and monitor performance. In outdoor recreation, they provide navigation support and safety features. For marine navigation, GPS devices help in chart plotting and tracking the vessel's position. The fastest growing application segment in terms of revenue is outdoor sports, as more athletes and adventure enthusiasts are embracing technology to enhance their performance and safety during activities. Overall, handheld GPS devices have become indispensable tools for outdoor enthusiasts in various activities.

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Geographical Spread and Market Dynamics of the Handheld GPS Market

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The handheld GPS market is experiencing rapid growth worldwide, with North America leading the way in terms of market share. In the United States and Canada, the demand for handheld GPS devices is driven by outdoor enthusiasts, hikers, fishermen, and hunters. In Europe, countries like Germany, France, and the . are also seeing a rise in the adoption of GPS technology for navigation and outdoor activities. In Asia-Pacific, countries such as China, Japan, and India are investing heavily in GPS technology for various applications, including transportation and logistics. In Latin America, Mexico and Brazil are emerging as key markets for handheld GPS devices. The Middle East & Africa region is also witnessing growth in the handheld GPS market, particularly in countries like Turkey and Saudi Arabia. Key players in the market include Garmin, Magellan, Lowrance, Bushnell, Golf Buddy, and DeLorme, who are expanding their product offerings and services to capitalize on the growing demand for GPS technology.

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Handheld GPS Market Growth Prospects and Market Forecast

The Handheld GPS Market is expected to witness a CAGR of approximately 8% during the forecasted period. The growth is being driven by the increasing demand for location-based services, rising adoption of GPS technology in outdoor recreational activities, and the growing popularity of geocaching and geotagging applications.

Innovative growth drivers for the Handheld GPS Market include the integration of augmented reality technology, which enhances the user experience by overlaying digital information on the physical environment. Additionally, the development of high-precision GPS devices for professional applications such as surveying and mapping is expected to fuel market growth.

To increase growth prospects, companies in the Handheld GPS Market are focusing on deploying innovative strategies such as partnering with smartphone manufacturers to integrate GPS capabilities into mobile devices, launching advanced GPS devices with enhanced features like satellite communication and SOS functionality, and expanding their product portfolio to cater to diverse consumer segments.

Moreover, emerging trends such as the incorporation of artificial intelligence for route optimization and advanced tracking features, the development of wearable GPS devices, and the increasing adoption of GPS technology in autonomous vehicles are expected to further drive the growth of the Handheld GPS Market in the coming years.

Handheld GPS Market: Competitive Intelligence

  • Garmin
  • Magellan
  • Lowrance
  • Bushnell
  • Golf BUddy
  • DeLorme

Garmin is a leading player in the handheld GPS market with a strong track record of innovative products and successful market strategies. The company has consistently delivered strong financial performance, with total revenue reaching $ billion in 2020.

Magellan is another key player in the market, known for its durable and reliable GPS devices. The company has a history of providing innovative solutions for outdoor enthusiasts and professionals. Magellan's sales revenue was reported at $150 million in 2020.

Bushnell is a well-known brand in the outdoor industry, offering a range of GPS devices for hunting, golf, and outdoor activities. The company has a strong focus on innovation and product development, which has helped drive its revenue to $500 million in 2020.

Golf Buddy is a niche player in the handheld GPS market, specializing in golf rangefinders and GPS watches for golfers. The company has seen steady growth in recent years, with sales revenue reaching $50 million in 2020.

Overall, the handheld GPS market is expected to continue growing as outdoor activities and sports enthusiasts increasingly rely on GPS technology for navigation and performance tracking. Companies like Garmin, Magellan, Bushnell, and Golf Buddy are well-positioned to capitalize on this trend, with a strong focus on innovation and customer satisfaction.

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