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Global Navigation Satellite System Global Market Report 2023: Intelligent Highway & ITS Favor Adoption of GNSS - ResearchAndMarkets.com

The "Global Navigation Satellite System (GNSS) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Navigation Satellite System (GNSS) Market to Reach $453 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Global Navigation Satellite System (GNSS) estimated at US$199.2 Billion in the year 2022, is projected to reach a revised size of US$453 Billion by 2030, growing at a CAGR of 10.8% over the analysis period 2022-2030. Road, one of the segments analyzed in the report, is projected to record a 10.8% CAGR and reach US$223.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Location-based Services (LBS) segment is readjusted to a revised 11% CAGR for the next 8-year period.

The U.S. Market is Estimated at $54.3 Billion, While China is Forecast to Grow at 14.9% CAGR

The Global Navigation Satellite System (GNSS) market in the U.S. is estimated at US$54.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$101.8 Billion by the year 2030 trailing a CAGR of 14.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 8.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$66.9 Billion by the year 2030.

Select Competitors (Total 57 Featured) -

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.

Key Topics Covered:









A selection of companies mentioned in this report includes

For more information about this report visit https://www.researchandmarkets.com/r/ct6hew

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News published on 31 january 2023 at 13:35 and distributed by: