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The Navigation Satellite System (GNSS) Devices Market size is estimated to grow at a CAGR of 9.52% between 2023 and 2028. The market size is forecast to increase by USD 32.1 billion. 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.
This GNSS devices market report extensively covers market segmentation by end-user (consumer electronics, automotive and transportation, military, and defense, and others), product (smartphones, tablets, wearables, in-vehicle systems, personal tracking devices, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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One of the key factors driving the GNSS devices market growth is the government initiatives and support in providing assistance in mobile devices. The main factor that is significantly influencing the global GNSS devices 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 navigation satellite system (GNSS) devices market. Therefore, it is expected to drive market growth during the forecast period.
A key factor shaping the GNSS devices 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, GNSS devices 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 navigation satellite system devices market. Therefore, it is expected to drive the global navigation satellite system (GNSS) devices market growth during the forecast period.
Indoor positioning navigating limitations are one of the key challenges hindering the GNSS devices 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 GNSS devices 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 navigation satellite system devices market. Therefore, it is expected to hinder the market growth during the forecast period.
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 GNSS devices 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.
In 2020, during the COVID-19 pandemic, the growth of the global GNSS devices market witnessed a significant slowdown due to the temporary closures of production units of several associated industries of the regional GNSS devices market in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in production units. Such factors are expected to drive the market during the forecast period.
The GNSS devices 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.
Global GNSS Devices 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 GNSS devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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 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 forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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