Navigation Satellite System Market Analysis

Navigation Satellite System Market Overview

The Navigation Satellite System Market is projected to grow from USD 242.73 billion in 2024 to USD 640.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.89% during the forecast period (2024 - 2032). Additionally, the market size for Navigation Satellite System was valued at USD 215 billion in 2023.

Increasing Application of GNSS Chip in In-Vehicle Systems and Integration of IoT in Consumer Electronics, are some of the factors driving the growth of the Navigation Satellite System market.

Covid-19 Analysis

Globally, the pandemic has caused a recession in the economy, forcing companies to drastically restructure their operations. The COVID-19 epidemic has had a significant influence on the Global Navigation Satellite System and people's lives all across the world. Many organisations had waged the struggle on both fronts with zeal. With the advent of a worldwide economic downturn in the millions and trillions of dollars, there was widespread expectation that the major recovery period will extend well into the few more year. The slow growth rate and a variety of other reasons are to blame for the epidemic. The global pandemic poses various problems to the Navigation Satellite System Market industry; it affects people worldwide. Significant strategic changes are taking place. In 2020 the world was faced with a pandemic like never before and this completely changed the way world functions in the most fundamental ways.

The pandemic adversely affected many aspects of life and rendered multiple markets to sustain huge losses in these times. The telecommunication industry has always been linked to economic growth; hence, the COVID-19 problem has had a substantial impact on insurers worldwide. The COVID 19 pandemic has imposed a huge economical threat to most industries. Currently, the industries are focusing on continuing the business activities with several strategies. The industries have reduced their key expenses yet emphasizing restructuring their strategies according to the changing market supplies. Also, they have started to continue the business from remote places, such factors have increased the overall growth of the Navigation Satellite System market during the pandemic.

Navigation Satellite System Market Opportunity

INCREASING DEMAND FOR UNMANNED AERIAL VEHICLE (UAVS)

Unmanned aerial vehicles (UAVs) are radio-controlled aircraft that are equipped with sensors, target designators, or electronic transmitters for surveillance and other observatory applications without any manual assistance. The technology was previously used in military and defense and government verticals as it offers a longer time of flight and greater surveillance range when compared to manned systems. Technological advancements have encouraged the software developers to integrate UAVs with collaborative technologies such as the Internet of Things (IoT), artificial intelligence (AI), 3D modeling, and augmented and virtual reality (AR/VR). UAVs rely upon GNSS for the provision of reliable position coordinates.

The technology offers UAVs with continuous mobile positioning and high accuracy orientation for applications such as navigation, guidance and control of unmanned vehicles as well as mapping and survey from UAVs. Integrating position technologies such as GNSS and inertial technologies with wireless communication to the UAVs allows the customers to achieve product differentiation and gain a competitive edge in the marketplace thereby offering market growth opportunities in the coming years.

Navigation Satellite System Market Segment Insights

Navigation Satellite System Type Insights

Based on Type, the Navigation Satellite System Market is segmented into Devices and Value Added Services. The Value Added Services captured the biggest market share by solution in 2022 and is likely to maintain its dominance in the future years. The value-added services segment includes services such as navigation, mapping, telematics, timing and synchronization, and other applications which include gaming and weather forecasting.

Navigation as a value-added service helps in monitoring and controlling the movement of a vehicle from one place to another. GNSS technology provides accuracy within a range of few to 10meters in a single point positioning technique or sub-meter to a few meters level in differential GNSS technique (DGNSS). Mapping as a value-added service of GNSS is a method for the creation of maps which is a graphic symbolic representation of the significant features of a part of the surface of the Earth. GNSS is an essential tool for mapping as it creates innovative opportunities in creating interactive maps with high accuracy. Telematics is a method of monitoring assets such as cars, trucks, heavy equipment, or even ships by using GNSS and onboard diagnostics to record movements on a computerized map. The use of telematics devices helps in improving fuel economy, getting vehicle-maintenance alerts, and optimizing routes.

March 2022 Trimble and Qualcomm Technologies, Inc. announced the availability of Trimble RTX GNSS technology for the Snapdragon 8 Gen 1 and Snapdragon 888 Mobile Platforms. This technology allows enhanced location capabilities in premium Android smartphones around the world. The integration of Trimble RTX GNSS technology, a corrective services platform, with Snapdragon helps to higher quality, more accurate location-based user experiences like as auto navigation with lane-level guidance.

January 2020 Qualcomm Technologies, Inc. announced the release of three new mobile platforms: the Qualcomm Snapdragon 720G, 662, and 460, which will offer greater user experiences in connection, gaming, and entertainment. These new mobile platforms provide Dual-Frequency (L1 and L5) GNSS to improve location positioning accuracy and resilience, and are the first system-on-chip solutions to support Navigation with Indian Constellation (NavIC).

Navigation Satellite System Application Insights

Based on Application, the Navigation Satellite System Market is segmented into Location Based Services (LBS), Automotive/Road, Surveying, Rail, Aviation, Others, and Agriculture. The Location Based Services (LBS)segment captured the biggest market share by solution in 2022 and is likely to maintain its dominance in the future years.

GNSS-enabled location-based services comprise a multitude of applications to meet different usage conditions and needs. These applications are supported by several categories of devices mainly smartphones and tablets, but also specific equipment such as personal tracking devices, wearables, digital cameras, and portable computers. Also, the use of location-based services in mHealth is driving the growth of wearables and smartphone apps in the healthcare segment. The introduction of Galileo paves the way for the development of enhanced location-based services (LBS) applications. It improves location-based services and applications for users, ranging from enhanced positioning performances to the development of more sophisticated augmented reality applications in outdoor environments. Some common applications of LBS include local news, points of interest, directory assistance, fleet management, asset tracking, location-sensitive building, and local advertisement.

Navigation Satellite System Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific dominated the Navigation Satellite System Market with a share of 36.2% of the total market in 2022. Asia-Pacific accounted for the largest share in the Navigation Satellite System Market due to the increasing adoption of smartphones wearable devices, and e-commerce. Moreover, the rising adoption of GNSS systems by the transportation companies in the region is also one of the major factors which are driving the market. Advancements in technology, rising penetration of connected cars, increasing investments for surveillance by the governments in the region are also factors driving the market. Based on country, the region has been segmented into China, Japan, India, and the rest of Asia-Pacific. Increasing demand for wearable GPS tracking devices for tracking of humans and pets is driving the market growth. Moreover, various companies and individuals are using navigation systems for tracking of cargo trailers, personal vehicles, and construction assets. The growing demand for GNSS systems to track mining activities and oil & gas vehicles is also propelling the market growth in China. China is one of the largest manufacturers of automobiles across the globe and is integrating various navigation and tracking systems within these machines, which is driving the growth of the GNSS market across the country.

North America held the second-largest share in the GNSS market; this is due to the rapid advancements in technology, installation of connected devices, and increasing number of applications of GNSS in railways, transportation, and drone services, among others, which is leading the growth of the market. Additionally, the presence of various companies, such as Qualcomm Technologies and Trimble Inc., which are developing advance systems and components associated with GNSS, is also driving the market.

Europe holds the third-largest share and is expected to register significant growth in the GNSS market during the forecast period owing to the rising adoption of navigation systems across industries, including automotive and aerospace and defense. Galileo is the European global navigation satellite system that offers positioning, timing, and navigation data to the users across the Europe; this system provides improved positioning and timing information to the users. Increasing investments by companies and governments for monitoring the movements of vehicles and assets, among others, is also driving the market in the region.

Further, the countries considered in the scope of the Navigation Satellite System market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.

Navigation Satellite System Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Navigation Satellite System market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Navigation Satellite System industry must offer cost-effective services and solutions to expand and survive in an increasingly competitive and rising market environment.

Various Navigation Satellite Systems market leaders are introducing new technologies for various industries in order to improve security and eliminate communication gaps between employees and businesses. Qualcomm launched Snapdragon 855 Plus Mobile Platform, an upgrade of Snapdragon 855, by increasing the CPU and GPU performance and elevate experiences for 5G, gaming, AI, and XR for the users.

Key Companies in the Navigation Satellite System market include

• Qualcomm Technologies Inc


• Hexagon AB


• Trimble Inc


• Septentrio N.V


• U-Blox Holding AG


• Quectel Wireless Solutions Co., Ltd.


• Topcon Corporation


• NavCom Technology Inc


• ST Microelectronics NV


• Spaceopal Gmbh, among others

Navigation Satellite System Industry Developments

July 2021 Thales Alenia Space, ASECNA, Geoflex, and NigComSat are collaborating to speed the development of A-SBAS (African Satellite-Based Augmentation System) for the delivery of precise point location (PPP and CNES/Geoflux) and risk alerts for a variety of applications in Africa.

May 2020 Trimble has completed the extension of its CenterPoint RTX Quick rectification service, which now covers a large portion of North America (the U.S. and Southern Canada). The advancement will benefit autonomous applications in on- and off-road sectors, as well as improvements in augmented positioning by industry specialists for service coverage and performance. The service extension will make implementation easier while also improving safety, operational efficiency, and productivity.

• Intended Audience
  
  
  
  • Sensor Industry
  
  
  • Satellite Industry
  
  
  • Telecommunication Industry
  
  
  • Technology Investors
  
  
  • Regulatory Industries
  
  
  • Government Bodies
  
  
  • Navigation Satellite System Service Provider
  
  
  
  

Navigation Satellite System Market Segmentation

Navigation Satellite System Type Outlook

• Value Added Services


• Devices

Navigation Satellite System Application Outlook

• Location Based Services (LBS)


• Automotive/Road


• Surveying


• Rail


• Aviation


• Agriculture


• Others

Navigation Satellite System Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Middle East & Africa

  
  


• 
  

  South America