Global Navigation Satellite System (GNSS) Market Insights Forecasts to 2032
- The Global Navigation Satellite System (GNSS) Market Size was valued at USD 223.64 Billion in 2022.
- The Market Size is growing at a CAGR of 9.25% from 2022 to 2032
- The Worldwide Navigation Satellite System (GNSS) Market Size is expected to reach USD 541.78 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Navigation Satellite System (GNSS) Market Size is expected to reach USD 541.78 billion by 2032, at a CAGR of 9.25% during the forecast period 2022 to 2032.
The global navigation satellite system (GNSS) is a constellation consisting of multiple satellites that provide signals from space to the GNSS receiver, which aids in determining location. With the increased use of smartphones, digital cameras, tablets, smart wearables, and other location-based devices, there has been a significant increase in the demand for applications that use location-based services. Furthermore, increased air travel around the world has resulted in a greater emphasis on air fleet adoption by commercial aviation companies. GPS, GLONASS, Beidou, and Galileo are examples of global navigation satellite systems. There are currently three fully operational GNSS systems operating around the world. The first is the United States Global Positioning System (NAVSTAR), the second is the Russian Federation's Global Orbiting Navigation Satellite System (GLONASS), and the third is the European Union's Galileo. It also has a variety of applications, such as road and rail navigation, location-based services, maritime navigation, agriculture, and others. Furthermore, the use of a navigation satellite system to provide services to multiple users is the most recent market trend. The global satellite navigation constellation provides navigation services. Users can access satellite communications services by owning a specific frequency band from the service providers' system.
Global Navigation Satellite System (GNSS) Market Report Coverage
|Market Size in 2022:||USD 223.64 Billion|
|Forecast Period 2022-2032 CAGR:||9.25%|
|2032 Value Projection:||USD 541.78 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Type, By Solution, By Application, By Region|
|Companies Covered:||Qualcomm Inc., Furuno Electric Co. Ltd., Rockwell Collins, Broadcom Inc., Laird Plc., Cobham Plc., L3Harris Corporation, Topcon Corporation, Texas Instrument Inc., Trimble Inc., Hexagon AB, and Other Key Players.|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The global navigation satellite system market has grown due to an increase in the adoption of autonomous vehicles for a variety of applications and an increase in reliance on location-based services. In additional, the convergence of 5G and GNSS is expected to provide growth opportunities over the forecast period. Additionally, the global e-commerce industry has experienced rapid growth and has numerous requirements for location-based services, such as tracking orders for real-time delivery and providing information to customers to maintain customer satisfaction and avoid delays, which are some of the major reasons for increased demand for satellite navigation systems. Furthermore, the introduction of navigation services for individual customers has enabled the expansion of individual businesses to operate through online channels and effectively deliver goods to distant locations.
The satellite navigation system market must consider regulatory issues such as frequency distribution and spectrum management. These issues stem from the need for effective and interference-free transmission of satellite navigation signals, as well as the radio frequency spectrum's limited availability. Frequency allocation is the practise of allocating specific frequency bands to various services and applications, such as satellite navigation systems. For satellite navigation systems to operate optimally and without interference, spectrum utilisation must be coordinated and controlled.
By Type Insights
The global constellations segment is witnessing significant CAGR growth over the forecast period.
On the basis of type, the global navigation satellite system (GNSS) market is segmented into satellite-based augmentation systems, global constellations and regional constellations. Among these, the global constellations segment is witnessing significant growth over the forecast period. With the availability of global satellite constellations such as Global Positioning Systems (GPS), a large number of devices have been configured to access navigation services all over the world. As a result of the widespread adoption of GPS-enabled services, global constellation has amassed a sizable market share in the global GNSS market.
By Solution Insights
The service segment dominates the market with the largest revenue share over the forecast period.
On the basis of solution, the global navigation satellite system (GNSS) market is segmented into service and system. Among these, the service segment is dominating the market with the largest revenue share over the forecast period. Services are a promising development in the space industry, and they are expected to grow in popularity as more organisations seek to benefit from satellite navigation without investing in their own ground station infrastructure.
By Application Insights
The LBS segment is expected to hold the largest share of the global navigation satellite system (GNSS) market during the forecast period.
Based on the rail the global navigation satellite system (GNSS) market is classified into rail, surveying, agriculture, LBS, timing synch, road, maritime, aviation, and others. Among these, the LBS segment is expected to hold the largest share of the navigation satellite system (GNSS) market during the forecast period. Navigation satellites are used in a variety of LBS applications, including navigation, mapping, and GIS. Navigation, route planning, real-time road navigation, and pedestrian guidance. It is used in advertising and geo-marketing because it allows customers to receive personalised offers based on their preferences and data positioning. It also has enterprise applications, safety and emergency, sports, games, and augmented reality, personal tracking, and social networking in LBS.
North America dominates the market with the largest market share over the forecast period.
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North America is dominating the market with the largest market share over the forecast period. The United States, Canada, and Mexico are the primary revenue contributors to the market's growth in North America. These countries have advanced infrastructure and participate in a variety of space exploration programmes. The commercial sector's demand for global positioning satellite systems has been increasing in the United States. Various developments, investments, and satellite programmes have resulted in year-over-year (YoY) growth and consistent market progress in the United States. Satellites have gained acceptance in the region for commercial and civil applications. As a result, a large number of small and private technology companies are investing in the design and launch of navigation satellite systems. During the forecast period, such developments are expected to fuel demand for navigation satellite systems.
Asia Pacific is expected to grow the fastest during the forecast period. The existence of leading manufacturers of consumer electronics such as Navika Electronics and Quectel Wireless, as well as various ongoing technological innovations in relation to real-time data for tracking and recording, such as wearable devices, smartphones, and others, are driving the GNSS market growth in this region.
List of Key Market Players
- Qualcomm Inc.
- Furuno Electric Co. Ltd.
- Rockwell Collins
- Broadcom Inc.
- Laird Plc.
- Cobham Plc.
- L3Harris Corporation
- Topcon Corporation
- Texas Instrument Inc.
- Trimble Inc.
- Hexagon AB
Key Market Developments
- On January 2023, Focal Point introduces the Strategic Investment from GM Ventures and Collaboration with General Motors on Next Generation GPS Technology Integration.
- On March 2023, Lockheed Martin Corporation developed Horizon and Compass on a combined and scalable modular architecture that is tailored to specific customer requirements. They provide mission-critical capabilities such as orbit management, autonomous operations, and formation flying for small, medium, and large constellations.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global navigation satellite system (GNSS) market based on the below-mentioned segments:
Navigation Satellite System (GNSS) Market, Type Analysis
- Satellite-based Augmentation Systems
- Global Constellations
- Regional Constellations
Navigation Satellite System (GNSS) Market, Solution Analysis
Navigation Satellite System (GNSS) Market, Application Analysis
- Timing Synch
Navigation Satellite System (GNSS) Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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