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Growing Consumer Interest in GPS Product: Market Research

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In our busy life schedule, it becomes important to keep everything in time in order to ourselves with the pace of the time.

Growing Consumer Interest in GPS Product: Market Research

     

In our busy life schedule, it becomes important to keep everything in time in order to ourselves with the pace of the time. But that again deals with retain of timely information and this is where the Global Positioning System comes into effect. People of various developed and also in developing countries are more or less relying on GPS devices for various purposes.

GPS devices are now used in various purposes that we have discussed in some of our previous articles. In today’s world market GPS and GPS product occupy a considerable place with its growing number of uses.

Apart from just a technology in mobile phones it becomes a daily assistance for people in their everyday life. There are many companies that are now providing GPS services and that to for ‘n’ number of purposes thereby creating consumer awareness and market value.

Reports of Consumer Electronics Association (CEA) showed that overall use of GPS and number of consumers is increasing day by day. The published report indicates that there is 80 per cent consumer certification that again signifies the quality of services.

Steve Koenig, CEA's senior manager of industry analysis said in a statement that the consumer awareness is increasing and the use of services like real-time traffic information will further enhance this in the coming years.

According to the report though a very less number of people use the technology and that is only 18 percent of online consumers Despite the popularity and satisfaction rate, GPS ownership is actually relatively small at 18 percent of online consumers. The research also indicated that the use of GPS navigation has nearly tripled the revenues in the shipment sector in the year 2005-2006.

Current internet status refers that almost one-quarter of online consumers indicated that they plan to purchase GPS devices within the next year, spending an average of $410, which could result in sales reaching $4.1 billion in 2007.

Again 33% of those online buyers are interested in buying cell phone with GPS device. So this reveals that consumers are now on their way to use GPS navigation technology in different uses other than in vehicle navigation.

Nearly 18 percent of users are by means of Hiking, 16 percent use it for walking, 14 percent for boating and another 7 percent for biking, and rest is used for running.

CEA conducts the research by the help of internet users all across the world and the above mentioned data is based on the consumer research conducted by CEA in last December. CEA regularly conducts consumer research and keeps an eye on the consumer electronic industry.

The outcome of the research is that there is ample opportunity of GPS manufactures to provide various GPS enabled products. The common one is cell phone and manufactures are now trying to provide the navigation services through this as mobile phone is now one of the common devices that everyone use.

     

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Posted on: February 26, 2008

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