Goodbye GPS device market and others...Yours Truly, The Smartphone.

It is very clear how technology innovation can affect businesses and markets. Most evident today are how physical cds are becoming more and more obsolete. Now, we are noticing how smartphones are affecting the once booming GPS device market.

More and more, smartphones are coming stock with GPS capabilities that require a data plan. With the rise of smartphones and the ability they have, it is more logical to get a data plan for your phone to allow it to perform to its highest ability. GPS companies such as Garmin are working together with phone companies and car companies to keep the profits coming.

The article also discusses many other markets that are being cannibalized by the smartphone industry. Cameras and media players are also in danger because of the increase in quality of smartphone cameras and music quantity capabilities.

Is the GPS device market going to end tomorrow? Not likely. They are still many who own and prefer to use them. As our generation gets older and innovation increases, more of these devices will be condensed into what we call our smartphone, but it will not happen overnight.