January 31, 2012 07:08 ET

Market Research Projects GPS Navigation & LBS Market Growth at 50% CAGR Through 2014

ROCKVILLE, MD--(Marketwire - Jan 31, 2012) - has announced the addition of the new report "Global GPS Navigation and LBS Market 2010-2014," to their collection of Electronics market reports. For more information, visit

The report forecast the Global GPS Navigation and LBS market to grow at a CAGR of 50.2 percent over the period 2010-2014. One of the key factors contributing to this market is the growth in the sales of smartphones. The Global GPS Navigation and LBS market has also been witnessing its increasing applications in the automobiles. However, the availability of alternate satellite system could pose a challenge to the growth of this market.

Commenting on the report, a Healthcare analyst said, "Hearing aid banks generally assist in reducing the extent of hearing loss for people in certain countries who are not eligible for the government hearing services program by providing hearing aids for them for free or at reduced cost. There has been an increase in the number of hearing aids banks in Australia recently. These banks focus on people who do not qualify for government assistance and have insufficient funds to purchase hearing aids. These initiatives by the hearing aids banks are becoming a major trend, via which many people with hearing problems are getting proper assistance and support worldwide. One of the major challenges of the Global Hearing Aids market is the high cost of hearing aids."

According to the report, most of the leading hearing aid manufacturers are customizing and developing their product lines to appeal better to the consumers to stay ahead in the competition. Many hearing aids vendors are addressing needs of elder citizens, such as products that integrate detectors for the doorbell, alarm clock, telephone, and smoke alarms. Moreover, many patients suffer from both hearing loss and tinnitus. This segment of people might find benefit from features like the Widex Zen music synthesizer.

For more information, visit

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