If you think almost everyone has a Global Positioning System device mounted on their dash, you're pretty close to being correct. Worldwide, the supply of GPS products reached about 143.2 million units last year. That number was provided by the market research firm, Research and Markets, and is based on data provided by the Industrial Economics & Knowledge Center in Taiwan and was reported Friday. Although that sounds like an awful large number of GPS units, the firm says that the growth rate of the number of GPS devices in vehicles actually slowed in 2006 when compared to previous years.
So what's Research and Markets predicting for the GPS market in '07?
- Multifunction - GPS devices will transform into multifunction systems for a variety of applications.
- Convergence - Mainnland China GPS makers will emphasis hybrid models that integrate mobile entertainment with their increased position accuracy and real time information delivery. So maybe you'll be able to get directions to the nearest Starbucks on your iPod?
- Personal Touch - Taiwan manufacturers are expected to focus on personal navigation devices (PNDs) and personal tracking systems.
- Lower Prices - Prices are expected to decline anywhere from 10 to 30 percent this year.