(Special Report) - GPS devices have really picked up in sales over the last couple of years. They are getting more accurate with updated device revisions and precise mapping capabilities, the prices are dropping substantially and there are specific models that cater to targeted needs of consumers. These trends are expected to continue for the most part in 2008.

Map providers for Magellan and Tom Tom, for instance, are getting precise with their ability to update new points-of-interest and newly developed areas, which is making latest GPS devices more accurate and current. Expect that to continue going forward this year. There's not a lot to talk about here other than to pinpoint the ongoing developments to make existing maps more useful with impressive graphics.

That brings us to another key point: user interface. A lot of GPS devices still has user interface issues. If nothing serious, at least they are not pleasing to look at, which is what a lot of mainstream consumers have been demanding. Magellan and Tom Tom, to name the two biggest GPS device makers, are working to improve that. In fact, it's one of the main factors they are going to be focusing their attention and resources on in 2008. We saw updated user interfaces at CES 2008, and they were impressive, to say the least. Expect good things in this area as well.

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Price points, again, have fallen substantially, but don't expect to purchase an in-car GPS unit for $29.99. The prices are expected to stay flat in 2008, but the overall product value will go up in spikes. For instance, if you were able to purchase a $99 GPS unit before, you'll get the same unit at the same price but with more features or a better user interface. Needless to say, the margins aren't great for hardware, so a lot of companies do plan on charging for premium services, or at least make them disruptive enough to where it makes sense for you to pay more for a better unit. In essence, expect true value with flat price tags.

Another area where the margins are high is niche markets. A lot of companies we talked to were working on specific GPS units for cyclists, hikers, drivers and walkers. Naturally, these units are specifically targeted and neatly designed for particular activities. As a result, they demand higher prices and are valuable enough for serious activity enthusiasts to not mind paying higher prices for them. They are not volume units by a long shot, companies admitted, but margins are amazingly high on these, and they fill a specific purpose in the market.

All in all, there are a number of exciting updates to look forward to with GPS devices, albeit at similar price points that we have come to expect.

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