Precise Point Positioning (PPP), an absolute positioning method, is an alternative for conventional relative positioning. Currently the PPP accuracy, is on the level of few-centimetres for static and decimetre for kinematic positioning respectively. However, long convergence time of PPP results is observed. The main goal of this paper is to estimate the accuracy and convergence time when using PPP, and to compare the results with those obtained by other authors. The idea, model and expected accuracy of PPP is discussed in first part of the paper. Adding GLONASS, using method of real-time and using only single frequency are analysed in the frame of recent publications. Numerical analysis is based on gLAB, open source desktop software written in C. Analysis was performed for globally distributed set of 25 stations with observation period of 50 consecutive days, enough to produce statistically relevant results. Analysis of convergence time was done for accuracies between 10 cm and 1 cm. Statistical analysis of accuracy is performed for observation time between 24 h and 1 h. Both statistical parameters and convergence times for different accuracy reveal exponential nature. Considering observation period of 4 hours, few-centimeter convergence may be expected with no significant biases observed. At current state the method overtakes relative positioning in areas where networks of reference stations are not established. The PPP technique may be attractive not only in geodesy, thus, the application possibility in geosciences is analyzed in context of the results.