The growth of the global navigation satellite system market has propelled due to increase in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services. However, cyber-attacks impacting navigation satellite systems and inaccuracy in GNSS data are the factors that hamper the growth of the GNSS market. Furthermore, fusion of 5G and GNSS is expected to offer growth opportunities during the forecast period.
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Key Market Players
- Furuno Electric
- Hemisphere GNSS
- Hexagon
- L3 Harris Corporation
- Laird Plc
- Navtech GPS
- Qualcomm Inc
- Texas Instruments
- Topcon Corporation
- Trimble Inc.
- Garmin Ltd
- Raytheon Technologies Corp.
- SkyTraq Technology, Inc.
- STMicroelectronics
- Broadcom Inc.
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Moreover, autonomous vehicle with the aid of GNSS receivers can perform effectively even in a low navigation satellite signal reception area. Therefore, demand for GNSS integrated autonomous vehicles is increased. Thus, increase in the adoption of autonomous vehicles for several applications is one of the factors that drive the growth of the navigation satellite system industry during the forecast period.
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Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the navigation satellite industry analysis from 2021 to 2031 to identify the prevailing navigation satellite market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the navigation satellite market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global navigation satellite market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
- Component
- Devices
- Services
- Type
- Global Constellations
- Regional Constellations
- Satellite-based Augmentation Systems
- Application
- Consumer and Health Solutions
- Road and Automotive
- Others
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