GPS Industries Comments on Research Firm Prediction for Global GPS Sales to Grow $4.1 Billion in 2007
VANCOUVER, British Columbia --(Business Wire)-- GPS Industries, Inc. (GPSI) (OTCBB:GPSN), the only provider of Wi-Fi powered, advertising enhanced GPS systems for golf facilities, resorts and residential communities, released comments today on market segment analysis that projects the GPS market will grow substantially in the near term.
According to a research report released by the Consumer Electronics Association (CEA), there is significant growth awaiting manufacturers and marketers of GPS products throughout multiple industries. The key will be to deliver systems in innovative yet easy-to-use formats. The CEA report concludes that sales for GPS devices within the next year could total $4.1 billion.
"Convergence has spread GPS across multiple product segments resulting in greater consumer awareness and budding adoption of the technology," said Steve Koenig, CEA's senior manager of industry analysis.
GPS Industries CMO Steven Barrett commented, "We've been witness to the accelerating adoption rate firsthand. Since we own more than twenty important patents for golf-related GPS and Differential GPS applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan, GPS Industries is ideally positioned to capitalize on the rapid growth CEA and other researchers are predicting. In essence, any company utilizing the GPS technology for our industry must pay us a licensing fee."
Mr. Barrett continued: "Aside from our obvious patent advantage, all of our customers who have taken the time to research other offerings in the market tell us that GPS Industries has the best GPS products in the world of golf. And we are the only company to integrate a Wi-Fi infrastructure into our systems. This allows us to cover entire golf facilities, or even a surrounding residential community, into wireless hot spots. Courses around the globe are discovering that this distinction alone serves as a magnet for new business, both on and off the golf course."
The complete study is available free to CEA member companies. Non-members may purchase the study via the CEA web site at: www.ce.org
About GPS Industries (GPSI)
GPS Industries, Inc. (OTCBB: GPSN) is a global technology solutions provider whose GPS and Wi-Fi applications are best-of-breed in the vertical markets of golf course management and residential community development. In the golf industry, the Company's Inforemer-HD(TM) GPS Management System features an integrated Wi-Fi communications network, a comprehensive suite of club management tools, and award-winning cart-mounted display units that provide an enriched on-course playing experience for golfers and lucrative advertising opportunities the Company and its client facilities. In the community development vertical, the Company's WiStream(TM) division implements WiFi coverage throughout an entire development, creating a community-wide wireless 'hot-spot' which supports the Company's unique array of WiFi amenities: wireless internet connectivity, location tracking devices, wireless security protection, VOIP phones, mobile point-of-sale systems, and an interactive real estate sales tool. GPSI owns key patents for many important GPS and Differential GPS (DGPS) applications in fifteen countries worldwide, including the United States, Australia, Great Britain and Japan. For additional information, please visit www.gpsindustries.com, www.wistream.com and www.gpsifireattheflag.com.
Some statements contained in this release may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues and other factors as described in the Company's literature and filings with the Securities and Exchange Commission.