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Analysts predict GPS revenue bump

by GPS4US 2013-09-17 13:59

You know all that chatter about how smartphones will eventually kill of GPS units?

Not so fast.

A new report from ABI Research predicts the GPS device market will grow to total revenues of $7.4 billion in 2018. So, it appears, GPS makers like Garmin are responding well to their smartphone competition.

ABI forecasts the GPS market to take a slight dip from 2013-2015, but bounce back on the strength of cycling computers, sport watches and fitness products. So even as sales of personal navigation devices decline, active-lifestyle products will replace those sales. Plus, head-up displays are due for an uptick in popularity.

"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," said ABI’s Dominique Bonte. “Looking longer term, ABI Research has forecast very strong growth for HUD/eyewear devices, particularly in the fitness, golf, and cycling categories."

 

 

Perhaps it’s not surprising that Garmin spent the summer unveiling new products that fit this vision. Over the last three months, the GPS giant has announced its Head-Up Display, VIRB action camera, Garmin Forerunner 620 and 220, the Edge Touring and Touring Plus cycling computers, and the DC 50 dog collar.

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