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) -
Avidyne Corporation
FEI-Zyfer Inc.
Furuno USA Inc.
Garmin International Inc.
Harris Corporation
Hemisphere GNSS Inc.
Hexagon AB
KVH Industries Inc.
Leica Geosystems AG
Magellan Navigation Inc.
Microsemi Corporation
Mio Technology Benelux N.V.
MiTAC International Corporation
NavCom Technology Inc.
Navico Inc.
NovAtel, Inc.
Orolia Group
Raytheon Company
Rockwell Collins Inc.
TomTom International B.V.
Topcon Corporation
Trimble Navigation Limited
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:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Global Navigation Satellite System (GNSS): A Prelude
GPS, GLONASS, Beidou/BDS, Galileo and NAVIC: A Comparison of GNSS Platforms
Recent Market Activity
Economic Benefits Offered Create Conducive Environment for Wider Proliferation
Expanded Use Case & Wide Addressable Market Keep Market Momentum Intact
High Tide in Satellite Services Sector Lends Platform for Market Growth
Global Positioning System (GPS): The Widely Adopted GNSS Platform
Full-Fledged Roll Out of GPS III to Further Augment Commercial Use of GPS
Developed Regions: Key Revenue Contributors
High-Growth Opportunities in Developing Regions
Bright Prospects Ahead for GNSS Solutions Market
Global Navigation Satellite System (GNSS) - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Road Applications: Important End-Use Category for GNSS Solutions
As Satellite Navigation Becomes a Core Technology Block for Connected Car Systems & Autonomous Driving, Automotive Industry Emerges as a Key Revenue Pocket
Intelligent Highway & ITS Favor Adoption of GNSS
Expanding Role of Telematics in Fleet Management & Asset Tracking Augurs Well
Driverless Cars: A Bright Prospect for High-End GNSS Systems
Mining Entities Prefer GNSS for Machine Control Applications
GNSS Gains Prominence in Infrastructure Development & Road Construction
Increased Uptake of LBS Propagates Huge Growth Opportunities
Advanced Surveying/Mapping Technologies Widen Scope & Span of GNSS
Integration of GNSS Improves Architectural Survey Process
Growing Lenience towards GIS Instigates New Opportunities for GNSS
Aviation: A Niche End-Use Market for GNSS
Healthy Commercial Aviation Outlook Bodes Well
Rise of Unmanned Aircraft Extends New Set of Opportunities
GNSS Extends its Proficiency in Marine Applications As Well
Military & Defense: The Traditional Application Segment for GNSS/GPS Devices
GNSS Continues to be a Specialized Tool for Timing Applications
GNSS Assumes Critical Importance in Agriculture Sector
Precision Farming Programs Lend Platform for GNSS in Agriculture Sector
GNSS Emerges as Viable Tool for Georeferencing
GNSS for Ecology & Geology Study Programs
GNSS Seeks to Emerge as Disaster Prediction Tool
GPS and HazMat Tracking - A Critical Use
GNSS Makes Huge Progress in Mobile Devices
Convergence with Smartphones: The Path-breaking Development for GNSS
Handheld GNSS/GPS Devices Gain Mass Market Appeal
Smart GPS Devices Outwit Traditional GPS Units - Attract New Opportunities
Traditional GNSS Device Manufacturers Focus on Innovations amid Growing Competition from Smartphones
Fitness & Sports: Fast Emerging Application Areas
Technology Developments: The Lifeline for Commercial GPS Devices
High-Precision Receivers Elevate Performance of GPS
Augmentation Technologies Enhance Geographic Reach & Reliability of GPS
Growing Availability and Declining Device Prices Provide Growth Impetus
Availability of Economical GPS Chips Boost Commercial Application
Affordable GPS Devices Rise in Popularity
Wireless Connectivity Drives GPS Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
A selection of companies mentioned in this report includes
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