The Mid-and High-Level Precision GPS Receiver Market is expected to expand significantly, rising from USD 2.7 billion in 2021 to USD 4.0 billion by 2026.

The compound annual growth rate (CAGR) for this growth trajectory is an impressive 8.6%. The MarketsandMarketsTM study explores critical market elements, including grade kinds like differential grade and survey grade and important industries like agricultural, mining, construction and oil & gas. The growing use of precise GPS receivers in a variety of industries is a key element fueling this increase. These receivers are becoming more widely used globally as a result of their critical role in enhancing accuracy, efficiency, and productivity across industries.

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Several important reasons are driving the growth of the Mid-and High-Level Precision GPS Receiver Market. A significant driving force is the growing use of GPS receivers in the construction sector for improved efficiency and accuracy in site planning and operations. Additionally, the industry is expanding rapidly as a result of technological developments and GPS augmentation systems that deliver more accurate and trustworthy location-based data. This increase is also supported by ongoing efforts to improve the GPS infrastructure as a whole, making GPS systems more reliable and effective. The market also gains from the expanding availability of affordable GPS solutions, which open it up to a wider range of sectors and applications and support its ongoing expansion.

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Mining industry is estimated to hold the largest growth rate of the mid-and high-level precision GPS receiver market during the forecast period.

During the anticipated period, the Mid- and High-Level Precision GPS Receiver Market is anticipated to grow at the fastest rate in the mining sector. A phenomenal compound annual growth rate (CAGR) is predicted for this industry, highlighting its significance in the market's growth. In the mining industry, GPS technology has a wide range of uses that include vital processes like land surveying and mapping, blasthole drilling, vehicle tracking, and GNSS surveying. To assure the precision and accuracy required for the best mining operations, key equipment including shovels, dozers, loaders, graders, and haul truck fleets are outfitted with GPS systems using Real-time Kinematics (RTK) or differential GPS.

Mid-and high-level precision GPS receiver for survey grade type to grow at highest CAGR from 2021 to 2026

The survey-grade class of mid- and high-level precision GPS receiver is anticipated to grow at the fastest rate (CAGR) between 2021 and 2026. When it comes to precisely situating necessary components in a variety of industries, such as road construction, survey markers, and buildings, survey-grade GPS receivers are vital. In order to guarantee dependable network accuracy, these receivers are specifically designed to constantly obtain correct location in real-time or static mode. Because of its unmatched location accuracy, survey-grade GPS receivers are becoming increasingly popular in industries including construction and agriculture. The demand for the survey-grade segment is anticipated to significantly increase as building activities increase internationally, particularly in emerging nations.

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The mid-and high-level precision GPS receiver market in APAC is expected to grow at the highest CAGR from 2021 to 2026

From 2021 to 2026, the mid- and high-level precision GPS receiver market is expected to grow at the greatest Compound Annual Growth Rate (CAGR) in the Asia-Pacific (APAC) region. During the projected period, APAC is expected to register the highest growth rate in the global market. The booming agriculture industry, particularly the adoption of precision farming techniques, and the quickening development of infrastructure in the area are to blame for the increase in demand for GPS receivers. Using GPS receivers helps maximise accuracy and efficiency in both farming and construction activities.

Due to factors including expanding populations and the ensuing rise in air and rail traffic within the Asia-Pacific (APAC) region, GPS receiver demand is surging in nations like China and Japan. In Australia, where they are primarily used for precision farming applications, there is a particularly noticeable increase in the demand for GPS receivers. Following in the shoes of the US and Canada, Australia is one of the leading nations to adopt precision agricultural methods. In order to help farmers successfully address the various circumstances of their land, the nation has been at the forefront of introducing Precision Agriculture (PA), often known as satellite farming. This development highlights the expanding significance of GPS technology across a number of APAC nations and highlights its essential role in optimising agricultural practises.

Major companies operating in this mid-and high-level precision GPS receiver market include Trimble Navigation Ltd. (US), Hexagon AB (Sweden), Topcon Positioning Systems Inc. (US), Hemisphere GNSS, Inc. (US), and Javad GNSS, Inc. (US).

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