GPS Market To Hit $22B By 2008, ABI Says

Emerging applications using the Global Positioning System (GPS) and renewed growth in existing markets will help to expand the global GPS market beyond $22 billion by 2008, predicted New York-based technology market research firm ABI. New applications on the rise, the firm said, include people tracking, automatic vehicle location, asset tracking and recreational use. The industry has been given a boost by the Federal Communications Commission‘s E911 emergency response requirements, mandating that wireless carriers provide the location of 911 callers. Equipment for the automotive and asset tracking segments will account for nearly 50 percent of the global GPS market this year and will continue to gain share through 2008, the company said.