LONDON /BUSINESS WIRE/ -- Despite the continued decline of portable navigation devices (PNDs), and the threat of smartphones, smart watches, and smart eyewear, the portable GPS-enabled device market is forecast to continue to hold its own thanks to dedicated HUD/eyewear, cycling, and health/tracking devices.
The quarterly GNSS database of ABI Research forecasts the new and emerging markets for GPS-enabled devices, and where the opportunities lie in terms of device formats and vertical markets. The report also considers the impact of competitive formats such as smartphone applications, wearable sensors, smart watches, and smart eyewear, providing a complete picture of drivers and inhibitors in this market.
Senior analyst Patrick Connolly comments, "The overall market is forecast to grow from 33.3 million units in 2012 to 36.79 million in 2018, following a brief dip in 2013 as PND declines outweigh growth in other areas. Total revenues will undergo a brief period of fluctuation from 2013 to 2015, before rising to $7.14 billion in 2018."
Dominique Bonte adds, "The markets for cycling computers, health/elderly, and fitness are starting to get interesting. As ASPs decline and smart watches become a more established part of our lives, the addressable market will be eaten up, limiting the growth potential for dedicated fitness devices. Looking longer term, ABI Research has forecast very strong growth for HUD/eyewear devices, particularly in the fitness, golf, and cycling categories. It would not be surprising to see an acquisition in this space over the next 12 months."
These findings are part of ABI Research's Location Devices Research Service, which includes Research Analyses, Market Data, Insights, and Competitive Assessments focused on the GPS/GNSS IC and devices markets.
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ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe, and Asia, ABI Research's worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information, call 516-624-2500.