Precise time is crucial to a variety of economic activities around the world. Communication systems, electrical power grids, and financial networks all rely on precision timing for synchronization and operational efficiency. The free availability of GPS time has enabled cost savings for companies that depend on precise time and has led to significant advances in capability.
Wireless telephone and data networks use GPS time to keep all of their base stations in perfect synchronization. This allows mobile handsets to share limited radio spectrum more efficiently. Similarly, digital broadcast radio services use GPS time to ensure that the bits from all radio stations arrive at receivers in lockstep. This allows listeners to tune between stations with a minimum of delay.