The global demand for navigation satellite systems market is expected to rise at a healthy CAGR of 8.1% per year to USD 3,80,322.0 million by 2032, supported by the following:
A number of factors are hampering the growth of the GNSS market, including cyber-attacks on navigation satellite systems and inaccuracies in GNSS data. Furthermore, 5G and GNSS fusion are expected to provide growth opportunities.
| Report Attribute | Details |
|---|---|
| Navigation satellite system Market Estimated Base Year Value (2021) | USD 162,205.37 Million |
| Navigation satellite system Market Expected Market Value (2022) | USD 1,75,344.0 Million |
| Navigation satellite system Market Anticipated Forecast Value (2032) | USD 3,80,322.0 Million |
| Navigation satellite system Market Projected Growth Rate (2022 to 2032) | 8.1% CAGR |
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Space infrastructure is required to deliver GNSS signals to end users. Therefore, more space infrastructure is necessary to increase the signal's availability, such as upgraded satellites, advanced network stations, and associated components.
A new space network station requires a large initial investment, so market growth will be slowed by the high costs associated with the upstream components. While this may be the case, upcoming technologies such as artificial intelligence, the Internet of Things, 5G, and industrial automation are anticipated to create lucrative market size opportunities.
Consumer electronics devices such as smartphones, smart wearables, digital cameras, and tablets are widely used for mapping, marketing, and navigation purposes. The adoption rate of various location-based service (LBS) applications has increased as a result of this development.
The global navigation satellite system market is expected to grow as location-based services such as online food delivery, online medicinal drug delivery, asset tracking applications, online cab services, and online product delivery become more prevalent.
The advent of 5G network technology has also increased the development of 5G-enabled smartphones. Advanced navigation chips are also being developed for smartphones in this new 5G era. A more accurate positioning system would be possible if advanced navigation components were integrated into consumer electronics devices. This would improve the current LBS application capabilities regarding network speed, performance, and accuracy.
It is estimated that over 2.5 billion devices will be sold by 2025, according to the European GNSS Agency. It is expected that this development will create numerous opportunities for the GNSS market to grow quickly.
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The navigation satellite system market is fragmented due to the strong product portfolios of major companies in developed and emerging countries. Nevertheless, moderate entry barriers will cause domestic players to enter the global market, resulting in a highly fragmented market by 2028.
Globally, there are a number of manufacturing companies operating in the market. Qualcomm Plc., Texas Instrument, Trimble, and Rockwell Collins, for example, are some of the leading companies. Other key vendors include Harris Corporation, Cobham Plc., and Laird Plc., which has a strong presence through its products and services in this market.
A few of the key strategies OEMs in this market use include the introduction of innovative products, services, software, new product launches, strategic acquisitions, partnerships, and collaborations.
In recent times, manufacturers of navigation satellite systems have identified new growth avenues stemming from the adoption of GNSS commercial applications. Since these systems are packed with the ability to determine position, velocity, and local time, it plays a key role in the defense of a country. Given this influence, it is anticipated that new revenue channels will open up from the defense sector.
Global navigation satellite systems are seeing an increase in demand from industrial, military, commercial, and government users due to the increased emphasis on positioning, navigation, and timing tools. Continuous advancement in technology is leading to the advancement of superior and highly efficient GNSS devices. In addition to ease of access leading to cyber threats, storing unstructured data is a challenge that restricts the growth of the navigation satellite system (GNSS) market.
The USA is expected to dominate the navigation satellite system (GNSS) market with an anticipated share of 33.2% by the end of 2022. This rise can be attributed to its highly used multi-sensor tracking data acquisition system. North American growth is expected to be driven by the growth of Driver Advisory Systems (DAS) in Mexico and Canada, which optimize traffic flow, use less energy, and are low-cost devices.
Due to the strong presence of component manufacturers in the market, the European market is expected to grow at a moderate rate of 23.7% in the next few years. The significant growth of the component manufacturers can be found in road, surveying, and maritime applications, these factors are propelling sales of navigation satellite systems (GNSS) in the global market.
To help in the tracing of suspected infections, Sygic and other technology companies are developing smartphone applications with GNSS and Bluetooth sensors. Travel restrictions and the reduction in cars parked near ground stations have influenced the quality of improvised reflectometry measurements, reported Science Daily in September 2020. This development has reduced signal scattering and improved measurement quality.
Although the global 5G rollouts have been impacted by the pandemic, the post-pandemic market continues to grow due to the high demand for navigation satellite systems (GNSS), the adoption rate of 5G technological infrastructure, and the development of network spectrum distribution auctions.
The global navigation satellite system (GNSS) solutions play an integral role in determining the position, local time, and velocity of satellites in space. During the historical assessment of the navigation satellite system, it has been found that the adoption of navigation satellite systems or commercial applications is rising.
In recent years, positioning, navigation, and timing (PNT) tools have become increasingly important for industrial, military, commercial, and governmental applications, contributing to the growth of the navigation satellite system (GNSS) market. The relentless development of new technologies has led to the production of superior and highly efficient GNSS devices.
Due to the low entry barrier in the navigation satellite system market, numerous start-ups are surfacing, which, in itself, is intensifying the competition.
However, the demand for navigation satellite systems is likely to turn sluggish during the forecast period, owing to cyber threats and security concerns. In addition to this, the difficulty to store unstructured data
A few limitations that restrict the growth of the navigation satellite system (GNSS) market include easy accessibility, which leads to cyber threats, and difficulty storing unstructured data.
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Over the forecast period, Asia Pacific is expected to have the fastest-growing global navigation satellite systems market. Revenue growth is primarily driven by China, Japan, India, and Australia. The significant increase in China has been attributed to the large population of consumers, including electronic devices, smartphones, positioning devices, and other essential applications.
The Indian government has made significant developments in navigation satellite technology, such as NAVIC, which has been developed for aviation, marine, automotive, and other critical applications.
How is the Performance of North America in the Navigation Satellite System Market?
The USA is projected to dominate the navigation satellite system (GNSS) market with a significant share value of 33.2% in 2022. This is likely due to the widespread use of the multi-sensor data acquisition system for track mapping prevalent in the country.
It is expected that the Driver Advisory System (DAS) market in North America will see significant growth due to its high adoption in Mexico and Canada, which optimize traffic flow, use less energy, and are inexpensive.
How will the Europe Navigation satellite system Market Grow?
There is strong competition in the European market, which is expected to grow at a modest market share of 23.7% due to the strong presence of component manufacturers. The significant growth in the road, surveying, and maritime applications is expected to drive the navigation satellite system (GNSS) market's growth.
Some of the leading companies operating in the global navigation satellite system market include Qualcomm, Broadcom, MediaTek, SkyTraq, Intel, STMicroelectronics, FURUNO, Raytheon Company, Rockwell Collins, TomTom NV, Topcon Corporation, Trimble Navigation Ltd., u-blox.
To combat the spread of the COVID-19 pandemic, Sygic has been experimenting with technologies to develop smartphones equipped with Bluetooth and GNSS sensors, which aid in tracing suspected infection contacts.
The improvement in the quality of improvised reflectometry measurements has been attributed to road restrictions and a reduction in the number of cars parked near ground stations in September 2020. This has significantly reduced the signal scattering and improved the quality of measurements.
Some of the leading companies operating in the global navigation satellite system market include Qualcomm, Broadcom, MediaTek, SkyTraq, Intel, STMicroelectronics, FURUNO, Raytheon Company, Rockwell Collins, TomTom NV, Topcon Corporation, Trimble Navigation Ltd., u-blox.
A growing number of small and large players entering the market and offering products at competitive prices is leading to competitive prices for GNSS/GPS receivers. Thus, this factor is expected to boost the growth of the navigation satellite system (GNSS) market.
Sygic and similar companies have been involved in the development of smartphone applications equipped with GNSS and Bluetooth sensors to prevent the spread of the ongoing COVID-19 pandemic. These applications assist in tracing potential infection contacts.
Despite the consequences of the pandemic on 5G deployments globally, the post-pandemic market has seen growth due to high demand and adoption rates of the technology-relevant infrastructure for 5G. Countries worldwide have also seen the development of network spectrum distribution auctions.
A report in Science Daily stated that improvised reflectometry measurements were affected by travel restrictions and a reduction in cars parked near ground stations in September 2020. This development significantly reduced signal scattering and improved the data's quality.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.1% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Application, Satellite Technology, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific; Japan; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Australia, New Zealand, China, India, Japan, GCC Countries, South Africa, North Africa |
| Key Companies Profiled | Qualcomm; Broadcom; MediaTek; SkyTraq; Intel; STMicroelectronics; FURUNO; Raytheon Company; Rockwell Collins; TomTom NV; Topcon Corporation; Trimble Navigation Ltd.; u-blox |
| Customization | Available Upon Request |
The global navigation satellite system market is set to exceed USD 3,80,322.0 Million by 2032.
The USA is projected to lead the navigation satellite system market in the forecast period.
The navigation satellite system market is likely to secure a CAGR of 8.1% through 2032.
1. Executive Summary | Navigation Satellite System Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 5.1. Agriculture 5.2. Aviation 5.3. Location-based Services (LBS) 5.4. Maritime 5.5. Road 5.6. Rail 5.7. Surveying 5.8. Timing and Synchronization 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Satellite Technology 6.1. Constellations 6.2. Satellite-Based Augmentation Systems (SBAS) 6.3. GPS 6.4. GLONASS 6.5. Galileo 6.6. BeiDou 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Qualcomm 15.2. Broadcom 15.3. MediaTek 15.4. SkyTraq 15.5. Intel 15.6. STMicroelectronics 15.7. FURUNO 15.8. Raytheon Company 15.9. Rockwell Collins 15.10. TomTom NV 15.11. Topcon Corporation 15.12. Trimble Navigation Ltd. 15.13. u-blox 16. Assumptions & Acronyms Used 17. Research Methodology
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