Dublin, May 14, 2024 (GLOBE NEWSWIRE) -- The "Global Navigation Satellite System (GNSS) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Global Navigation Satellite System (GNSS) Market to Reach $453 Billion by 2030
The global market for Global Navigation Satellite System (GNSS) estimated at US$223.4 Billion in the year 2023, is projected to reach a revised size of US$453 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2023-2030.
The report delves into a comparison of GNSS platforms including GPS, GLONASS, Beidou/BDS, Galileo, and NAVIC, outlining their respective features and capabilities. Recent market activity is analyzed, highlighting the economic benefits driving the wider proliferation of GNSS technologies.
Road Application, one of the segments analyzed in the report, is expected to record 9.2% CAGR and reach US$223.3 Billion by the end of the analysis period. Growth in the Location-based Services (LBS) Application segment is estimated at 9.4% CAGR for the next 8-year period.
The expanded use cases and a wide addressable market maintain the market momentum, particularly in the satellite services sector. GPS, as the widely adopted GNSS platform, is discussed, with emphasis on the full-fledged rollout of GPS III and its implications for commercial use.
The U.S. Market is Estimated at $60.3 Billion, While China is Forecast to Grow at 12.8% CAGR
Revenue contributions from developed regions are noted, along with high-growth opportunities in developing regions, indicating bright prospects ahead for the GNSS solutions market. Additionally, the global key competitors' percentage market share in 2022 is provided for context.
The Global Navigation Satellite System (GNSS) market in the U.S. is estimated at US$60.3 Billion in the year 2023. 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 12.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.7% and 7.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 283 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $223.4 Billion |
| Forecasted Market Value (USD) by 2030 | $453 Billion |
| Compound Annual Growth Rate | 9.2% |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- 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)
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
FOCUS ON SELECT PLAYERS(Total 57 Featured)
- Avidyne Corporation (USA)
- Collins Aerospace (USA)
- FEI-Zyfer, Inc. (USA)
- Furuno USA, Inc. (USA)
- Garmin International, Inc. (USA)
- Hemisphere GNSS Inc. (Canada)
- Hexagon AB (Sweden)
- Leica Geosystems AG (Switzerland)
- NovAtel, Inc. (Canada)
- KVH Industries, Inc. (USA)
- L3Harris Technologies, Inc. (USA)
- Microsemi Corporation (USA)
- MiTAC International Corporation (Taiwan)
- Magellan Navigation, Inc. (USA)
- Mio Technology Benelux N.V. (Belgium)
- Navman New Zealand (New Zealand)
- NavCom Technology, Inc. (USA)
- Navico, Inc. (USA)
- Orolia Group (France)
- Raytheon Company (USA)
- TomTom International B.V. (The Netherlands)
- Topcon Corporation (Japan)
- Trimble Navigation Limited (USA)
For more information about this report visit https://www.researchandmarkets.com/r/tn10e4
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