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
- L3 Harris Corporation
- Laird Plc
- Navtech GPS
- Qualcomm Inc
- Texas Instruments
- Topcon Corporation
- Trimble Inc.
- Garmin Ltd
- Raytheon Technologies Corp.
- SkyTraq Technology, Inc.
- Broadcom Inc.
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Based on consumer and health solutions, it is further bifurcated into navigation & tracking, health & lifestyle, and tourism & corporate. By road & automotive, it is further fragmented into personal navigation device, road user charging, public transport buses, in-vehicle system, road fleet management, connected & automated driving, and others. On the basis of others, it is further classified into aviation & drones, agriculture, maritime & inland waterways, infrastructure, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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In addition, people are using LBSs through various internet capable devices such as smartphones, tracking devices, digital cameras, tablets, and fitness devices. Increase in adoption of smartphones across the globe accelerates the utilization of location-based services; thereby, boosting the navigation satellite system industry growth. Moreover, various mobile applications such as business and communication apps, gaming apps, health & wellness apps, and personal convenience apps majorly use real-time positioning information. Thus, upsurge in trend of navigation and location-based services across various sectors are expected to drive the growth of the navigation satellite system market.
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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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