Garmin: local GPS solutions market reaches 10m euros

The market of GPS equipment and services is estimated to reach 10 million euros this year, estimates Bogdan Condurateanu, technical manager and a shareholder of Sheba Distribution, the Romanian representative of the American company Garmin – one of the top three players in the GPS equipment industry worldwide. Sheba Distribution targets a 6 million-RON (approximately 1.9 million-euro) turnover this year, over 60% higher than last year, when the company had reported business of 3.5 million RON (1.06 million euros). “In 2006, sales of Garmin equipment saw a 300% increase against 2005, with the main catalyst being Romania’s Digital Atlas, which from its 1.14 version, also ensures automatic routing – known on the market as ROAD2005 Deluxe. For this year, we are estimating a 100% sales increase,” Bogdan Condurateanu told ZF. The domestic GPS equipment market has seen a significant rise since the initial launch, at the end of 2005, of Romania’s first digital routing map.