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GNSS Market Overview:
GNSS Market size is estimated to reach US$355.3 billion by 2030, growing at a CAGR of 9.6% during the forecast period 2024-2030. Increasing demand for location-based services and advancements in GNSS technology are expected to propel the growth of GNSS market.
Additionally, Combining GNSS with INS technology provides highly accurate and continuous positioning even in GNSS signal outages. This is crucial for autonomous vehicles, drones, and other applications requiring uninterrupted navigation. Integrating GNSS with cellular networks like 5G enables seamless positioning indoors and in urban areas where satellite signals are weak. This opens up new possibilities for location-based services and applications like indoor navigation and asset tracking. Advancements in microchip technology are leading to smaller, lower-power GNSS chips. This enables integration into a wider range of devices, from wearables and smartphones to drones and Internet of Things (IoT) sensors. The development of cost-effective GNSS solutions makes the technology more accessible to a broader range of applications and user segments. This drives market expansion and innovation in various sectors, including agriculture, construction, and consumer electronics.
Market Snapshot:
GNSS Market - Report Coverage:
The “GNSS Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the GNSS Market.
| Attribute | Segment |
|---|---|
By Equipment |
|
By Satellite System |
|
By Application |
|
By End-Use Industry |
|
By Geography |
|
COVID-19 / Ukraine Crisis - Impact Analysis:
● The COVID-19 pandemic has had a significant impact on the GNSS market in Ukraine. This led to delays in the deployment of GNSS infrastructure and the development of related technologies. However, as the pandemic progressed, there was a growing recognition of the importance of GNSS in enabling remote operations and facilitating the implementation of social distancing measures. This increased awareness has stimulated demand for GNSS solutions across various sectors, including transportation, agriculture, and logistics, as businesses seek to enhance efficiency and productivity while adapting to the new normal.
● In Ukraine specifically, the impact of COVID-19 on the GNSS market has been compounded by geopolitical tensions and economic challenges. Despite these obstacles, there is a growing emphasis on leveraging GNSS technology to drive innovation and foster economic growth. The Ukrainian government has recognized the strategic importance of GNSS and is investing in initiatives to strengthen the country's position in the global GNSS market. These efforts include fostering partnerships with international GNSS providers, supporting research and development activities, and promoting the adoption of GNSS-based applications in key sectors such as precision agriculture, transportation, and emergency response.
Key Takeaways:
● APAC Dominated the Market
Geographically, in the GNSS market share, APAC region is analyzed to hold a dominant market share of 37% in 2023. The presence of the leading consumer electronics manufacturers, such as Quectel Wireless and Navika Electronics, and various on-going technological innovations, including wearable devices, smartphone and many more, in reference to real-time data for tracking as well as recording are estimated to drive market in this region. The 12th Multi-GNSS Asia Annual Conference will be taking place on 10 & 11 March 2022. GNSS.asia will be featured with its own session! This conference is organized by the MGA (Multi-GNSS Asia) organization, which comprises of international experts, and is focused on promoting the use of multi-GNSS in the Asia and Oceania regions as well as supporting service providers and user communities in the development of new applications and businesses.
● Surveying & Mapping is the fastest growing segment
In the GNSS Market forecast, Surveying & Mapping segment is estimated to grow with a CAGR of 10.1% during the forecast period, owing to the growing adoption of GNSS devices across the units such as traffic, road and maritime. Land surveying services will continue to register strong growth due to growing adoption of aerial surveying services, cartographic surveying services, and geodetic surveying services, among others. In May 2023, third edition of the use of GNSS in surveying and mapping has been prepared by RICS in partnership with Newcastle University, and with the help of an extensive expert peer review process. The standard supports those connected with the requesting, purchase and production of surveys and mapping data at all scales. The new global 3rd edition features fully revised and updated sections on GNSS survey methods, control and errors, coordinate reference systems and projections, and a strong emphasis on quality control and office/processing procedures.
● GNSS Receivers to Hold Largest Market Share
According to the GNSS Market analysis, GNSS Receivers segment is estimated to hold the largest market share of 33% in 2023. The constant enhancement of the entire GNSS infrastructure, along with the significant adoption of cost-effective and high reliability GNSS solutions to denote various services, including automotive navigation system and more are contributing to the growth of the market. In December 2023, Furuno Electric Co. has released its dual-band GNSS receiver chip, eRideOPUS 9, which can achieve 50cm position accuracy without correction data. The product is designed to provide absolute position information and can be used as a reference for lane identification, which is essential for services such as autonomous driving. The eRideOPUS 9 supports all navigation satellite systems currently in operation, including GPS, GLONASS, Galileo, BeiDou, QZSS and NavIC.
● Increasing Demand for Location-Based Services
The growing demand for location-based services across various industries such as transportation, agriculture, construction, logistics, and emergency response is a significant driver of the GNSS market. GNSS technology enables precise positioning, navigation, and timing capabilities, which are essential for applications such as vehicle tracking, fleet management, precision agriculture, asset tracking, and geospatial mapping. As businesses and consumers increasingly rely on location-based services for improved efficiency, safety, and convenience, the demand for GNSS solutions continues to rise, driving market growth. The concept of location-based systems is not compliant with the standardized concept of real-time locating systems (RTLS) and related local services, as noted in ISO/IEC 19762-5 and ISO/IEC 24730-1. While networked computing devices generally do very well to inform consumers of days old data, the computing devices themselves can also be tracked, even in real-time.
● Advancements in GNSS Technology
The evolution of standardized digital communications, such as the Highway Addressable Remote Transducer (HART) protocol, can provide reliable communication and safety alerts during gas leakages. The HART protocol is a two-way communication protocol that provides data access between GNSSs and control systems, and offers real-time benefits to industries in relating accurate data to systems. Wireless integration enables real-time monitoring of gas levels and environmental conditions, providing instant alerts and notifications to operators or personnel in the event of gas leaks, anomalies, or hazardous situations. Wireless integration reduces installation time and labor costs, minimizes maintenance requirements, and enhances system reliability, ultimately delivering cost savings and productivity gains over the system's lifecycle.
● Expensive GNSS Components Hinders the Market Growth
The expense of GNSS components, including receivers, antennas, and related infrastructure, is primarily driven by factors such as advanced features, high-performance specifications, and the complexity of manufacturing processes. Additionally, the need for continual upgrades to keep pace with evolving GNSS standards and technologies further contributes to the overall cost. Addressing this challenge requires efforts to drive down the cost of GNSS components through economies of scale, advancements in manufacturing techniques, and increased competition among suppliers. Additionally, initiatives to promote interoperability and standardization can help reduce integration costs and enhance the affordability of GNSS solutions.
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Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the GNSS Market. The top 10 companies in this industry are listed below:
- Trimble Inc.
- Hexagon AB
- Topcon Positioning Systems, Inc.
- CHCNAV
- Garmin Ltd.
- u-blox
- Hemisphere GNSS
- Septentrio N.V.
- Furuno Electric Co., Ltd.
- STMicroelectronics N.V.
Scope of Report:
| Report Metric | Details |
|---|---|
Base Year Considered | 2023 |
Forecast Period | 2024–2030 |
CAGR | 9.6% |
Market Size in 2030 | $355.3 billion |
Segments Covered | Equipment, Satellite System, Application, End-Use Industry |
Geographies Covered | North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
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1. GNSS Market - Overview
1.1. Definitions and Scope
2. GNSS Market - Executive Summary
3. GNSS Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. GNSS Market - Start-up Companies Scenario (Premium)
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5. GNSS Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. GNSS Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7. GNSS Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. GNSS Market – By Equipment (Market Size – $Million/$Billion)
8.1. Smart Antennas
8.2. Receivers
8.3. Field Controllers
8.4. Others
9. GNSS Market – By Satellite System (Market Size – $Million/$Billion)
9.1. GPS
9.2. Galileo
9.3. GLONASS
9.4. NavIC
9.5. QZSS
9.6. BeiDou
9.7. Others
10. GNSS Market – By Application (Market Size – $Million/$Billion)
10.1. Time Synchronizing
10.2. Location Based Services
10.3. Unmanned Systems
10.4. Surveying & Mapping
10.5. Navigation
10.6. Others
11. GNSS Market – By End-Use Industry (Market Size – $Million/$Billion)
11.1. Construction
11.2. Media & Entertainment
11.3. Mining
11.4. Consumer Electronics
11.5. Marine
11.6. Agriculture
11.7. Aviation
11.8. Astronautics
11.9. Transportation
11.10. Telecom & IT
11.11. Others
12. GNSS Market – By Geography (Market Size – $Million/$Billion)
12.1. North America
12.1.1. Canada
12.1.2. Mexico
12.1.3. U.S.
12.2. South America
12.2.1. Argentina
12.2.2. Brazil
12.2.3. Chile
12.2.4. Colombia
12.2.5. Rest of South America
12.3. Europe
12.3.1. France
12.3.2. Germany
12.3.3. Italy
12.3.4. Netherlands
12.3.5. Belgium
12.3.6. Spain
12.3.7. UK
12.3.8. Denmark
12.3.9. Rest of Europe
12.4. APAC
12.4.1. China
12.4.2. Japan
12.4.3. India
12.4.4. South Korea
12.4.5. Australia and New Zealand
12.4.6. Indonesia
12.4.7. Taiwan
12.4.8. Malaysia
12.4.9. Rest of APAC
12.5. RoW
12.5.1. Saudi Arabia
12.5.1.1. UAE
12.5.1.2. Israel
12.5.2. South Africa
12.5.2.1. Nigeria
12.5.2.2. Rest of Africa
13. GNSS Market – Entropy
14. GNSS Market – Industry/Segment Competition Landscape (Premium)
14.1. Market Share Analysis
14.1.1. Market Share by Region – Key Companies
14.1.2. Market Share by Country – Key Companies
14.2. Competition Matrix
14.3. Best Practices for Companies
15. GNSS Market – Key Company List by Country Premium (Premium)
16. GNSS Market - Company Analysis
16.1. Trimble Inc.
16.2. Hexagon AB
16.3. Topcon Positioning Systems, Inc.
16.4. CHCNAV
16.5. Garmin Ltd.
16.6. u-blox
16.7. Hemisphere GNSS
16.8. Septentrio N.V.
16.9. Furuno Electric Co., Ltd.
16.10. STMicroelectronics N.V.
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LIST OF TABLES
1.Global GNSS MARKET, BY END USER Market 2023-2030 ($M)1.1 RAIL Market 2023-2030 ($M) - Global Industry Research
1.2 AGRICULTURE Market 2023-2030 ($M) - Global Industry Research
1.3 AVIATION Market 2023-2030 ($M) - Global Industry Research
2.Global GNSS MARKET, BY END USER Market 2023-2030 (Volume/Units)
2.1 RAIL Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 AGRICULTURE Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 AVIATION Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America GNSS MARKET, BY END USER Market 2023-2030 ($M)
3.1 RAIL Market 2023-2030 ($M) - Regional Industry Research
3.2 AGRICULTURE Market 2023-2030 ($M) - Regional Industry Research
3.3 AVIATION Market 2023-2030 ($M) - Regional Industry Research
4.South America GNSS MARKET, BY END USER Market 2023-2030 ($M)
4.1 RAIL Market 2023-2030 ($M) - Regional Industry Research
4.2 AGRICULTURE Market 2023-2030 ($M) - Regional Industry Research
4.3 AVIATION Market 2023-2030 ($M) - Regional Industry Research
5.Europe GNSS MARKET, BY END USER Market 2023-2030 ($M)
5.1 RAIL Market 2023-2030 ($M) - Regional Industry Research
5.2 AGRICULTURE Market 2023-2030 ($M) - Regional Industry Research
5.3 AVIATION Market 2023-2030 ($M) - Regional Industry Research
6.APAC GNSS MARKET, BY END USER Market 2023-2030 ($M)
6.1 RAIL Market 2023-2030 ($M) - Regional Industry Research
6.2 AGRICULTURE Market 2023-2030 ($M) - Regional Industry Research
6.3 AVIATION Market 2023-2030 ($M) - Regional Industry Research
7.MENA GNSS MARKET, BY END USER Market 2023-2030 ($M)
7.1 RAIL Market 2023-2030 ($M) - Regional Industry Research
7.2 AGRICULTURE Market 2023-2030 ($M) - Regional Industry Research
7.3 AVIATION Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US GNSS Market Revenue, 2023-2030 ($M)2.Canada GNSS Market Revenue, 2023-2030 ($M)
3.Mexico GNSS Market Revenue, 2023-2030 ($M)
4.Brazil GNSS Market Revenue, 2023-2030 ($M)
5.Argentina GNSS Market Revenue, 2023-2030 ($M)
6.Peru GNSS Market Revenue, 2023-2030 ($M)
7.Colombia GNSS Market Revenue, 2023-2030 ($M)
8.Chile GNSS Market Revenue, 2023-2030 ($M)
9.Rest of South America GNSS Market Revenue, 2023-2030 ($M)
10.UK GNSS Market Revenue, 2023-2030 ($M)
11.Germany GNSS Market Revenue, 2023-2030 ($M)
12.France GNSS Market Revenue, 2023-2030 ($M)
13.Italy GNSS Market Revenue, 2023-2030 ($M)
14.Spain GNSS Market Revenue, 2023-2030 ($M)
15.Rest of Europe GNSS Market Revenue, 2023-2030 ($M)
16.China GNSS Market Revenue, 2023-2030 ($M)
17.India GNSS Market Revenue, 2023-2030 ($M)
18.Japan GNSS Market Revenue, 2023-2030 ($M)
19.South Korea GNSS Market Revenue, 2023-2030 ($M)
20.South Africa GNSS Market Revenue, 2023-2030 ($M)
21.North America GNSS By Application
22.South America GNSS By Application
23.Europe GNSS By Application
24.APAC GNSS By Application
25.MENA GNSS By Application
26.GARMIN LTD., Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.QUALCOMM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.INTEL, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.MEDIATEK, INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.BROADCOM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.SKYTRAQ TECHNOLOGY, INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.STMICROELECTRONICS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.FURUNO ELECTRIC CO. LTD., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.EFFIGIS GEO SOLUTIONS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.U-BLOX, Sales /Revenue, 2015-2018 ($Mn/$Bn)
The GNSS Market is projected to grow at a CAGR of 9.6% during the forecast period 2024-2030.
Global GNSS Market size is estimated to be $188 billion in 2023 and is projected to reach $355.3 billion by 2030.
The leading players in the GNSS Market are Trimble Inc., Hexagon AB, Topcon Positioning Systems, Inc., CHCNAV, Garmin Ltd., and Others
Convergence of GNSS with other technologies and miniaturization and cost reduction are the major trends in GNSS Market.
Increasing demand for location-based services and advancements in GNSS technology are expected to drive the growth of GNSS Market. Emerging applications in autonomous vehicles and integration with Internet of Things (IoT) and smart cities to create growth opportunities in the market.