According to the research report titled ‘Global Mid-and High-Level Precision GPS Receiver Market Size study, By Frequency Type (Single Frequency, Dual Frequency), By Type (Differential Grade, Survey Grade), By Industry (Agriculture, Mining, Construction, Oil & Gas, Others), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global mid-and high-level precision GPS receiver market is slated to register a healthy y-o-y growth rate during 2022-2028.

Expert opinion cites that the primary factors influencing global mid-and high-level precision GPS receiver market growth are increasing use of GPS receivers in the construction sector, rising availability of GPS solutions that are cost-effective, and growing technological advancement to enhance the entire GPS infrastructure.

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For the unversed, a GPS receiver is an L-band radio processor that is primarily used to process the various signal waves that GPS satellites broadcast in order to solve navigation equations for calculating operator position, precise time, and velocity. Industries like mining, agriculture, oil & gas, construction, and many more are embracing the mid- and high-level accuracy GPS receiver.

Furthermore, increasing investments in construction vertical, and commercial use of unmanned aerial vehicles (UAVs) are expected to augment industry outlook in the coming years.

However, high dependency on satellite availability and the coupling of GPS and light-squared signals may hamper market trends during the stipulated timeframe.

In terms of frequency type, worldwide mid-and high-level precision GPS receiver market industry is split into dual frequency and single frequency. Based on type terrain, the market is bifurcated into survey grade and differential grade. On the basis of end-use industry, the marketplace is divided into oil & gas, construction, mining, agriculture, and others.

Regionally, North America holds a major revenue share at present, owing to the availability of cutting-edge infrastructure and the high acceptance rate of innovative technologies in the region. Whereas Asia Pacific industry size is slated to surge with a healthy CAGR over the forecast period, on the back of flourishing agricultural sector and the expansion of emerging economies like India and China.

Quectel Wireless Solutions Co. Ltd., CNH Industrial America LLC, Raven Industries Inc., GENEQ Inc., Septentrio N.V., Hemisphere GNSS Inc., Javad GNSS Inc., Hexagon AB, Topcon Positioning Systems Inc., and Trimble Inc. are the leading players in global mid-and high-level precision GPS receiver market.