The Global Market for Global Navigation Satellite System (GNSS) is Projected to Reach US$98.4 Billion by 2022

Sustained Demand for Positioning, Navigation, & Timing (PNT) Devices in Myriad Commercial Applications Drives Growth in the Global Navigation Satellite System (GNSS) Market, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the Global Navigation Satellite System (GNSS) market. The global market for Global Navigation Satellite System (GNSS) is projected to reach US$98.4 billion by 2022, driven by the growing focus on Positioning, Navigation, & Timing (PNT) tools in commercial, industrial, government and military applications.

Global Navigation Satellite System (GNSS) is a satellite navigation system that functions through a group of satellites, programmed to work in collaboration to gather data from the Earth and send it to GNSS receivers back on Earth for positioning, navigation, and timing (PNT), surveying/mapping and several other purposes. Satellites in the GNSS system are equipped with extremely accurate atomic clocks and are programmed with precise orbital information, such that they send accurate orbital data and precise time as coded radio signals to the Earth, where it is collected by GNSS receivers to disclose PNT and other related information. GNSS receivers are generally equipped with same accuracy as that of satellite atomic clock for generating extremely precise information. GNSS infrastructure technologies include the US-owned NAVSTAR Global Positioning System (GPS), GLONASS of Russia, EU’s Galileo and China’s Beidou/BDS.

GNSS, mainly in the form of GPS technology, has over the years expanded its use case across various domains and has become a mainstream technology platform in military applications, automotive/transportation, aviation, marine, Location Based Services (LBS), and survey/mapping. Extending highly desired benefits such as improved safety in transportation with full navigational visibility and end-to-end asset tracking, faster response in emergency situations, environmental quality monitoring, superior efficiency in various processes, and several other quantifiable benefits, GNSS technology is making robust upward progress. Of various applications, use of GNSS solutions is widely prevalent in road applications such as in-vehicle navigation, asset tracking/fleet management, and machine control, as well as in LBS.

GNSS devices market has been a key beneficiary of significant improvements in the technology front such as development of high-quality, low-priced GNSS/GPS receiver sets, and deployment of augmentation systems for GPS, the widely used GNSS platform, in several regional markets. Additionally, the market has benefited from convergence with smartphones, which has been a path-breaking development for GNSS. Going forward, the GNSS market is expected to make substantial progress with roll out of GPS III block satellites, and also full-fledged deployment of novel GNSS platforms including China’s Beidou/BDS. Further, next generation technology concepts such as Intelligent Transportation System (ITS), Intelligent Highway, Unmanned Vehicles and Driverless Cars are expected to pave way for further proliferation of GNSS solutions in a major way.

As stated by the new market research report on Global Navigation Satellite System (GNSS), Asia-Pacific represents the largest market worldwide, supported by high demand in China, India, South Korea, and South East Asian countries. As a major electronics and ICT systems manufacturing hub and as a key consumer of satellite services, the region continues to be the major market for GNSS solutions. Latin America ranks as the fastest growing market with a CAGR of 4.4% over the analysis period.

Major players covered in the report include 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., Navman New Zealand, NovAtel Inc., Orolia Group, Raytheon Company, Rockwell Collins Inc., TomTom International B.V., Topcon Corporation and Trimble Navigation Limited, among others.

The research report titled “Global Navigation Satellite System (GNSS): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value and volume terms for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific (China, South Korea and Rest of Asia-Pacific), Latin America and Rest of World. The report also analyzes GNSS devices market by End-Use Applications – Road, Aviation, Marine, Location based Services (LBS), Survey/Mapping and Others (includes Rail, Agriculture, and Timing among others).

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