Navigation Satellite System Market: Global Industry Analysis and Forecast (2023-2029)

Navigation Satellite System Market was valued at US$ 228.76 Bn. in 2022. Global Navigation Satellite System Market size is estimated to grow at a CAGR of 12.27% over the forecast period.

Navigation Satellite System Market Overview:

The Global Navigation Satellite System (GNSS) pinpoints the geographic location of the user's receiver anywhere on the planet. This GNSS is important for high-precision navigation, positioning, and timing, along with research questions about exact positioning. The global navigation satellite system is made up of a constellation of orbiting satellites that function in tandem with a network of ground stations. The triangulation method is used by satellite-based navigators to find the user by computing information from several satellites. The satellites in the constellation send out coded signals at regular intervals. The signal data is then transformed into velocity, time estimates, and position. Using this information, the receiver calculates the precise location of the broadcasting satellite.Navigation Satellite System MarketTo know about the Research Methodology :- Request Free Sample Report

Navigation Satellite System Market Dynamics:

Growing uses in numerous industrial verticals, increasing technological advancements, and the need to improve the performance of positioning solutions, especially in adverse situations are driving the GNSS market growth across the globe. Cheap transaction costs, minimum environmental effect, and increased revenue from value-added services are also driving product demand. Spacecraft are using global navigation system receivers to determine exact orbits without relying on ground tracking. In addition, a global navigation satellite system receiver is used in the geocoding of photographs. When a digital camera's photos are combined with position data from the global navigation satellite system, the user can look up the locations where the photos were taken or examine them on a map. It has been observed that in recent years, young people have become increasingly interested in wildlife photography, which is expected to have a positive impact on the GNSS market growth during the forecast period. The growing number of consumer electronics with navigation and positioning capabilities is expected to drive up demand for low-power GNSS processors. Currently, technologically advanced wearable devices are in high demand. For instance, more than 50% of the world's population wears tech-advanced wearable gadgets like fitness bands and smartwatches. GNSS chips are widely used in these devices, which provide exact location information to users while running, walking, or driving. These factors are expected to boost the market growth during the forecast period. Global Navigation Satellite System (GNSS) has been widely used, thanks to its performance, which includes accuracy, integrity, continuity, and availability, which is driving the GNSS market growth. In addition, the growing importance of positioning, navigation, and timing (PNT) devices in the military, industrial, government, and commercial applications, along with the growing demand for navigation tools and solutions that protect users' privacy are also fueling the GNSS market growth across the globe. Unmanned robotic vehicles (URV) have become more popular in recent years across the globe. The increased capacities of numerous industry verticals such as automotive, aviation, agriculture, maritime, and transportation and logistics are driving this demand. Unmanned aerial vehicles (UAVs), autonomous underwater vehicles (AUVs), and unmanned ground vehicles (UGVs) all require the incorporation of navigation satellite system receivers in order to obtain exact real-time positional information. This data is essential for a variety of applications, including surveying, search and rescue, mapping, autonomous deliveries, and military combat operations. In addition, advanced GNSS receivers enable an unmanned vehicle to operate effectively and efficiently even in areas with poor signal reception. As a result, there is a greater demand for navigation-based gadgets that are integrated into UAVs. These factors are expected to fuel the growth of GNSS market growth throughout the forecast period. Inaccuracy and the growth of location error with time in GNSS, is expected to hamper the GNSS market growth during the forecast period. The greatest stumbling block to market growth is a lack of local expertise. In addition, easy accessibility leads to cyber dangers, and storing unstructured data is a rising concern across the globe. These are some of the restraint factors that limit the growth of the GNSS market.

Navigation Satellite System Market Segment Analysis:

Based on the Type, the Navigation Satellite System Market is segmented into GPS, GLONASS, Galileo, Beidou, and Others. The GPS segment held the largest market share, accounting for 36% in 2022. The Global Positioning System (GPS) segment growth is attributed to its advanced technology and it can be found in practically every industry area. GPS is used for identifying location, navigation, building world maps, monitoring objects or personal movement, and bringing exact timing to the globe. In addition, GPS receivers may be found in a variety of commercial items, including smartphones, fitness watches, vehicles, and GIS devices, all of which are expected to grow the market during the forecast period. The increased demand for GPS receivers among military and civilian users is also expected to boost the GNSS market's growth.

Regional Insights:

The Asia Pacific region held the largest market share accounted for 38.5% in 2022. The presence of leading consumer electronics manufacturers such as Navika Electronics and Quectel Wireless along with various ongoing technological innovations, such as wearable devices, smartphones, and others, in relation to real-time data for tracking and recording, are driving the GNSS market growth in this region. The North American region is expected to experience significant growth at a CAGR of 11.23% during the forecast period. The early adoptions of GPS-Aided GEO Augmented Navigation systems, along with the increasing application of mobile device-based GPS combined with ADAS, enable automotive technology by major car companies such as Tesla and Mercedes-Benz are driving the GNSS market growth in the region. The objective of the report is to present a comprehensive analysis of the global Navigation Satellite System Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Navigation Satellite System Market dynamic, structure by analyzing the market segments and projecting the Navigation Satellite System Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Navigation Satellite System Market make the report investor’s guide.

Navigation Satellite System Market Scope: Inquiry Before Buying

 Navigation Satellite System Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 228.76 Bn.
Forecast Period 2023 to 2029 CAGR: 12.27% Market Size in 2029: US $ 514.33 Bn.
Segments Covered: by Component Devices Services
by Type GPS GLONASS Galileo Beidou Others
by Technology Constellation Satellite Based Augmentation System
by End-User Automotive Consumer electronics Industrial Military & defense Travel & tourism Others

Navigation Satellite System Market By Region:

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)

Key Players are :

1. Qualcomm Inc 2. Trimble Navigation 3. Broadcom 4. Furuno Electric 5. Rockwell Collins 6. Texas Instruments 7. Cobham 8. Hexagon 9. Garmin Ltd 10.Javad GNSS 11.Navtech GPS 12.NovAtel Inc 13.Pulse Electronics 14.Shanghai Huace Navigation Technology Ltd. 15.SOKKIA 16.Topcon Corporation 17.The GEO Group, Inc 18.Hemisphere GNSS 19.Aglunction Inc 20.TomTom NV 21.Raytheon Company 22.Navipedia 23.Suzhou FOIF Co 24.Navigation Technologies" Ltd. Frequently Asked Questions: 1. Which region has the largest share in Global Navigation Satellite System Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Navigation Satellite System Market? Ans: The Global Navigation Satellite System Market is growing at a CAGR of 12.27% during forecasting period 2023-2029. 3. What is scope of the Global Navigation Satellite System market report? Ans: Global Navigation Satellite System Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Navigation Satellite System market? Ans: The important key players in the Global Navigation Satellite System Market are – Qualcomm Inc, Trimble Navigation, Broadcom, Furuno Electric, Rockwell Collins, Texas Instruments, Cobham, Hexagon, Garmin Ltd, Javad GNSS, Navtech GPS, NovAtel Inc, Pulse Electronics, Shanghai Huace Navigation Technology Ltd., SOKKIA, Topcon Corporation, The GEO Group, Inc, Hemisphere GNSS, Aglunction Inc, TomTom NV, Raytheon Company, Navipedia, Suzhou FOIF Co, and Navigation Technologies" Ltd. 5. What is the study period of this market? Ans: The Global Navigation Satellite System Market is studied from 2022 to 2029.
1. Global Navigation Satellite System Market: Research Methodology 2. Global Navigation Satellite System Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Navigation Satellite System Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Navigation Satellite System Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Navigation Satellite System Market Segmentation 4.1 Global Navigation Satellite System Market, by Component (2022-2029) • Devices • Services 4.2 Global Navigation Satellite System Market, by Type (2022-2029) • GPS • GLONASS • Galileo • Beidou • Others 4.3 Global Navigation Satellite System Market, by Technology (2022-2029) • Constellation  • Satellite Based Augmentation System 4.4 Global Navigation Satellite System Market, by End-User (2022-2029) • Automotive • Consumer electronics • Industrial • Military & defense • Travel & tourism • Others 5. North America Navigation Satellite System Market(2022-2029) 5.1 North America Navigation Satellite System Market, by Component (2022-2029) • Devices • Services 5.2 North America Navigation Satellite System Market, by Type (2022-2029) • GPS • GLONASS • Galileo • Beidou • Others 5.3 North America Navigation Satellite System Market, by Technology (2022-2029) • Constellation  • Satellite Based Augmentation System 5.4 North America Navigation Satellite System Market, by End-User (2022-2029) • Automotive • Consumer electronics • Industrial • Military & defense • Travel & tourism • Others 5.5 North America Navigation Satellite System Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Navigation Satellite System Market (2022-2029) 6.1. European Navigation Satellite System Market, by Component (2022-2029) 6.2. European Navigation Satellite System Market, by Type (2022-2029) 6.3. European Navigation Satellite System Market, by Technology (2022-2029) 6.4. European Navigation Satellite System Market, by End-User (2022-2029) 6.5. European Navigation Satellite System Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Navigation Satellite System Market (2022-2029) 7.1. Asia Pacific Navigation Satellite System Market, by Component (2022-2029) 7.2. Asia Pacific Navigation Satellite System Market, by Type (2022-2029) 7.3. Asia Pacific Navigation Satellite System Market, by Technology (2022-2029) 7.4. Asia Pacific Navigation Satellite System Market, by End-User (2022-2029) 7.5. Asia Pacific Navigation Satellite System Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Navigation Satellite System Market (2022-2029) 8.1 Middle East and Africa Navigation Satellite System Market, by Component (2022-2029) 8.2. Middle East and Africa Navigation Satellite System Market, by Type (2022-2029) 8.3. Middle East and Africa Navigation Satellite System Market, by Technology (2022-2029) 8.4. Middle East and Africa Navigation Satellite System Market, by End-User (2022-2029) 8.5. Middle East and Africa Navigation Satellite System Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Navigation Satellite System Market (2022-2029) 9.1. South America Navigation Satellite System Market, by Component (2022-2029) 9.2. South America Navigation Satellite System Market, by Type (2022-2029) 9.3. South America Navigation Satellite System Market, by Technology (2022-2029) 9.4. South America Navigation Satellite System Market, by End-User (2022-2029) 9.5. South America Navigation Satellite System Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Qualcomm Inc 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Trimble Navigation 10.3 Broadcom 10.4 Furuno Electric 10.5 Rockwell Collins 10.6 Texas Instruments 10.7 Cobham 10.8 Hexagon 10.9 Garmin Ltd 10.10 Javad GNSS 10.11 Navtech GPS 10.12 NovAtel Inc 10.13 Pulse Electronics 10.14 Shanghai Huace Navigation Technology Ltd. 10.15 SOKKIA 10.16 Topcon Corporation 10.17 The GEO Group, Inc 10.18 Hemisphere GNSS 10.19 Aglunction Inc 10.20 TomTom NV 10.21 Raytheon Company 10.22 Navipedia 10.23 Suzhou FOIF Co 10.24 Navigation Technologies" Ltd.
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