GPS market to reach $21.5 bln in 2008

GPS (global positioning system) production value worldwide is expected to grow to $21.5 bln in 2008, up from $13 bln in 2003, according to the Industrial Economics and Knowledge Center (IEK) of the Industrial Technology Research Institute (ITRI).

GPS (global positioning system) production value worldwide is expected to grow to $21.5 bln in 2008, up from $13 bln in 2003, according to the Industrial Economics and Knowledge Center (IEK) of the Industrial Technology Research Institute (ITRI). Production value in Taiwan is forecast to hit NT$31.5 bln (about US$930 mln) this year, rising from NT$23.9 bln (about US$710 mln) in 2003, said IEK. The Taiwan GPS industry should occupy 13.2% of global GPS production, sliding from 13.9% in 2003.

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