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The Navigation Satellite System Devices Market size is estimated to increase by USD 32.1 billion at a CAGR of 9.52% between 2023 and 2028. The growth of the market depends on several factors, including government initiatives and support in providing assistance in mobile devices, rising investment in satellite navigation programs, and innovation in navigation and positioning devices. The GNSS devices market is the market for devices or equipment that rely on satellite signals to offer global positioning and navigational services. Examples of such devices include GPS, BeiDou, GLONASS, and Galileo receivers. These products are commonly used in a variety of industries, including automotive, aerospace, maritime, and agriculture, as well as in construction, consumer electronics, and other sectors. The GNSS devices market involves the process of manufacturing, distribution, integration, and software and technologies that enable users to precisely pinpoint their location and acquire real-time global positioning information.
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The consumer electronics segment is estimated to witness significant growth during the forecast period. There has been a significant expansion in the global GNSS devices market over recent years and various market segments have emerged to meet the diverse requirements of end-users. In addition, consumer electronics is one such market segment in which GNSS devices have been widely adopted. The consumer electronics segment can be referred to as electronic devices that are intended to be used by consumers daily.
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The consumer electronics segment was the largest segment and was valued at USD 24.74 billion in 2018. Moreover, examples of consumer electronics comprise mobile phones, tablets, wearables, and personal navigators. In addition, within the context of GNSS devices, consumer electronics incorporate GPS technology to provide precise positioning, navigation, and tracking capabilities. Furthermore, there is a significant increase in demand in the global GNSS devices market due to several factors. For instance, the growth of the smartphone and tablet user base has created a large market for GNSS-enabled devices. Smart devices can be utilized for a variety of purposes, including navigation, fitness monitoring, location-based services, augmented reality, and many other applications that rely heavily on precise positioning data. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
The growing popularity of the smartphone segment will increase the market growth during the forecast period. GNSS chips are frequently embedded in smartphones as a crucial part of their location-based services and navigation systems. In addition, GNSS devices facilitate smartphones to pinpoint their exact location. As a result, it makes a variety of applications possible, such as navigation, maps, location-based social networking, and advertising. Moreover, there is a significant expansion of the market for GNSS chips due to the e rising demand for location-based services and smartphone-based navigation. For instance, one of the top producers of GNSS chips for smartphones is Qualcomm, followed by Broadcom and MediaTek. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main countries that are significantly contributing to the market growth in APAC include South Korea, Japan, and China. One of the main factors that has fuelled the APAC GNSS market is the demand for location-based services and GPS-enabled devices. Furthermore, market expansion is being fuelled by the demand for GNSS chips in automotive applications as autonomous vehicles adopt more sophisticated GPS technology for better navigation and safety features. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The market is witnessing a paradigm shift with the integration of constellations of satellites and satcom networks, fueled by substantial investments. These advancements enable the seamless dissemination of GNSS data and facilitate the fusion of 5G and GNSS technologies, enhancing interoperability and optimizing frequency band signals. Companies like bankmycell are leveraging 5G-capable infrastructure to drive innovations in consumer electronic devices and driverless technologies. While initial costs remain a consideration, the industry is vigilant against cyber-attacks, particularly in sectors such as homeland security, defense, marine, and agriculture. Furthermore, the market's scope extends to navigation satellite systems supporting maritime navigation, autonomous vehicles, precision agriculture, and maritime and inland waterways navigation, ushering in an era of unparalleled navigation precision and efficiency.
One of the key factors driving the market growth is the government initiatives and support in providing assistance in mobile devices. The main factor that is significantly influencing the global market expansion is the government assistance for GNSS technology. For example, the European Commission has approved a rule requiring satellite and Wi-Fi location services to be included in newly released smartphones.
Moreover, several governments are deploying regional constellations to enhance navigation and mapping services. Furthermore, GNSS systems are only available in the markets of China, Russia, the US, India, Japan, and the European Union. Hence, such factors are positively impacting the global market. Therefore, it is expected to drive market growth during the forecast period.
A key factor shaping the market growth is the increasing demand for precise navigation. The increasing requirement for accurate navigation systems is primarily fuelled by the need for precise location monitoring and mapping. In addition, they play a major role in the provision of real-time global positioning data, which facilitates the efficient operation of navigation and tracking systems for a variety of purposes.
Moreover, such devices leverage a network of satellites to precisely locate objects on the planet's surface, providing accurate results to users. Furthermore, industries are taking advantage of GNSS to improve their operations. For instance, transportation and logistics companies are utilizing precise navigation systems to plan their routes and track their vehicles, leading to faster delivery times and improved fuel efficiency. Hence, such factors are positively impacting the global market. Therefore, it is expected to drive the global market growth during the forecast period.
Indoor positioning navigating limitations are one of the key challenges hindering the market growth. Indoor positioning is a major technology for different industries, including retail, medical, logistics, and transport. But, it has its own limitations that present market opportunities for the market.
Moreover, the accuracy of indoor positioning is significantly compromised since traditional GNSS devices are unable to offer precise location information within confined spaces. Furthermore, GNSS is heavily dependent on satellite signals to determine its location, which can become degraded or attenuated when transmitted through buildings and other structures. Hence, such factors are negatively impacting the global market. Therefore, it is expected to hinder the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Broadcom Inc: The company offers GNSS devices such as BCM47765, BCM47531, and BCM47755.
Furuno Electric Co. Ltd: The company offers GNSS devices such as GF 8804 GNSS, GF 8805 GNSS, and GF 8801 GNSS.
Garmin Ltd: The company offers GNSS solutions that synthesizes data from multiple global navigation satellite system which includes integrated sensor and connectivity platforms that support advanced positioning solutions for marine navigation.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Navigation Satellite System (GNSS) Market: Global Navigation Satellite System (GNSS) Market by Application, Type, and Geography - Forecast and Analysis
GPS Market: GPS Market by Application and Geography - Forecast and Analysis
Satellite-Based Augmentation Systems Market: Satellite-Based Augmentation Systems Market by Application, Type, and and Geography - Forecast and Analysis
The market is witnessing rapid growth driven by advancements in satellite navigation system technology. With a focus on homeland security and the space industry, companies are investing heavily in deploying constellations of satellites and satcom networks to offer comprehensive satellite services. Leveraging big data and artificial intelligence, they enhance Industrial Internet of Things applications through sophisticated data analytics. The demand for space-based navigation platforms is rising, particularly with the emergence of mega-constellations, ensuring location accuracy and dependability. However, challenges like intentional jamming and spoofing persist, emphasizing the need for customized solutions and robust security measures. With integration into various sectors like maritime navigation and autonomous delivery, they play a pivotal role in enabling precision agriculture and smart mobility solutions, shaping the future of infrastructure and digital connectivity.
Furthermore, the market is propelled by the proliferation of constellations of satellites and satcom networks, driven by significant investments. These systems form the backbone of space-based navigation platforms and deliver crucial SATCOM services. Frequency band allocation and spectrum management are essential for optimizing satellite navigation signals amid challenges like accidental interference. Diverse business models and revenue streams are emerging, fueled by demands for real-time traffic updates, weather reports, and places of interest services. Despite concerns about technology degradation and cyber-attacks, integration with 5G technology and Laired Connectivity is revolutionizing consumer and health solutions and enhancing maritime and inland waterways navigation. As industries like surveying, military missions, and infrastructure monitoring embrace GNSS technology, its impact extends to digital cameras, fitness devices, and unmanned vehicles, ushering in a new era of precision and efficiency.
GNSS Devices Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.52% |
Market growth 2024-2028 |
USD 32.1 billion |
Market structure |
Fragmented |
YoY growth 2024-2024(%) |
8.86 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 38% |
Key countries |
US, Japan, China, South Korea, and Russia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beijing UniStrong Science and Technology Co. Ltd., Broadcom Inc., ComNav Technology Ltd., Furuno Electric Co. Ltd., Garmin Ltd., Hexagon AB, Intel Corp., L3Harris Technologies Inc., MediaTek Inc., NavtechGPS Inc., Osmose Utilities Services Inc. , Qualcomm Inc., Raytheon Technologies Corp., SkyTraq Technology Inc., STMicroelectronics International N.V., Texas Instruments Inc., The GEO Group Inc., TOPCON CORP., Trimble Inc., and u blox AG |
Market dynamics |
Parent market analysis, market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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