A compound annual growth rate (CAGR) of 8.6% is predicted for the Mid-and High-Level Precision GPS Receiver Market, which will expand from USD 2.7 billion in 2021 to USD 4.0 billion by 2026.

This significant growth is related to the increased need for precise GPS technology in a variety of sectors, including surveying, construction, agriculture, and transportation. The demand for more accuracy, efficiency, and productivity is driving the market's increasing trajectory and the adoption of mid- and high-level precision GPS receivers in a variety of applications.

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Due to a number of important variables, the mid- and high-level precision GPS receiver market is expanding significantly. The market is growing as a result of ongoing efforts to improve the overall GPS infrastructure and the rising use of GPS receivers in the construction sector. The demand for mid- and high-level precision receivers is also being driven by the introduction of GPS augmentation systems and the ongoing developments in GPS technology. Further accelerating the market's growth trajectory is the availability of more affordable GPS solutions that serve a variety of sectors and applications.

Key players operating in the Mid-and High-Level Precision GPS Receiver Market include major players operating in different stages in the entire value chain of GPS receiver; these players are Trimble Navigation Ltd. (US), Topcon Positioning Systems, Inc. (US), Hexagon AB (Sweden), and Javad GNSS, Inc. (US). Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnerhsip and expansions, to increase their revenue.

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Top 3 Players in Mid-and High-Level Precision GPS Receiver Market:

Trimble Navigation Ltd.

Trimble Navigation Ltd. became the market leader for mid- and high-level precision GPS receivers in 2020. Trimble, Inc., a top supplier of technology solutions, engages in the building and infrastructure, geospatial, resources and utilities, and transportation business segments. The business provides goods for surveying, geospatial, and geographic information systems (GIS) under the Geospatial Segment. A new GNSS receiver for GIS and mapping, a high-performance field computer, and a 3D laser scanning system were all unveiled by Trimble in 2019. Trimble continues to be a key player in developing the work processes of field mobile workers and professionals with its broad range of solutions serving a variety of industries including agriculture, construction, transportation, utilities, and more.

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Hexagon AB

Geospatial Enterprise Solutions and Industrial Enterprise Solutions are two of Hexagon AB's core business segments. Hexagon AB is a market leader in software, sensor, and automation solutions worldwide. The company's impressive product portfolio in the geospatial market includes laser scanners, mobile mapping technologies, precise positioning tools, and unmanned aerial vehicles, which are used in a variety of fields including surveying, building, agriculture, aerospace, defence, natural resources, and public safety. Hexagon's important acquisitions, including those of NovAtel Inc. in 2007 and Leica Geosystem AG in 2006, have greatly increased its GNSS capabilities and product offerings, including a variety of GNSS positioning systems and associated accessories, furthering the company's position in the market.

Topcon Positioning Systems Inc

Topcon Positioning Systems, Inc. (Topcon) is a top global supplier of precision measuring systems, providing a wide range of goods and services to meet the needs of different sectors of the economy. These include field controllers, software, laser levels, enterprise services, OEM components, aerial mapping, excavation, grading, paving, milling, compaction, GNSS and network solutions, total station systems, and more. RDS Technologies, Digi-Star, Sokkia, NORAC, and Wachendorff Elektronik are just a few of the well-known names in Topcon's broad portfolio, which caters to a variety of markets including construction, mapping, forestry, utilities, mining, and precision agriculture. The business additionally offers GNSS, machine control systems, and precision agriculture solutions through Topcon Corporation. With the addition of GNSS, total stations, 3D scanners, machine control, data collectors, and lasers to its product line in 2008 following the acquisition of Sokkia Topcon Co., Ltd., Topcon Group was able to maintain its position as a major player in the precision measurement industry.

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