Market Outlook
According to the report by Expert Market Research (EMR), the global navigation satellite system (GNSS) market size is projected to grow at a CAGR of 9.30% between 2024 and 2032. Aided by the use of GNSS in smart agriculture and smart high-speed rail and expansion of space-enabled applications, the market is expected to grow significantly by 2032.
GNSS refers to a constellation of satellites providing signals from space that transmit positioning and timing data to GNSS receivers. These receivers then use this data to determine location. The system encompasses various global and regional satellite navigation systems, including GPS (United States), GLONASS (Russia), Galileo (European Union), and BeiDou (China).
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The navigation satellite system (GNSS) market growth is primarily driven by the increasing demand for precise and real-time positioning in various sectors such as automotive, aviation, construction, and agriculture. The rise in the adoption of location-based services (LBS) in smartphones and the growing popularity of IoT (Internet of Things) are further bolstering the market growth. Additionally, advancements in autonomous vehicle technology, which rely heavily on accurate GNSS data, are propelling the market forward.
Innovation in GNSS technology focuses on enhancing accuracy, reliability, and resistance to signal interference. According to the navigation satellite system (GNSS) market analysis, the integration of GNSS with other technologies like augmented reality (AR) and unmanned aerial vehicles (UAVs) is expanding its application scope. Moreover, the development of miniaturised and energy-efficient GNSS receivers is crucial in catering to the evolving demands of various industries.
North America holds a significant portion of the navigation satellite system (GNSS) market share, primarily due to the widespread adoption of advanced navigation technologies and the presence of major market players. The Asia-Pacific region, led by China and India, is witnessing rapid growth due to the increasing use of location-based services and the expansion of the automotive and transportation sectors.
GNSS technology has a profound impact across various industries, improving efficiency, safety, and productivity. In agriculture, for example, GNSS enables precision farming techniques that optimise resource use and crop yields. Additionally, GNSS plays a crucial role in sustainable development, aiding in environmental monitoring and disaster management.
The navigation satellite system (GNSS) market outlook is being influenced by the increasing investment in satellite constellation development and the advent of 5G technology, which is expected to enhance GNSS-based applications significantly. The expansion of GNSS applications in emerging fields like smart cities, drone navigation, and space exploration offers potential for further market growth.
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Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Global Constellations
- Regional Constellations
- Satellite-based Augmentation
Market Breakup by Application
- Rail
- Aviation
- Maritime
- Surveying
- Time Synch
- Agriculture
- LBS
- Road
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global navigation satellite system (GNSS) market. Some of the major players explored in the report by Expert Market Research are as follows:
- Qualcomm Technologies, Inc.
- Cobham Limited
- Trimble Inc.
- Collins Aerospace
- Broadcom Inc
- Hexagon AB
- Others
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