According to Fortune Business Insights, the global navigation satellite system (GNSS) market size is expected to reach USD 703.21 billion by 2032, exhibiting a CAGR of 11.17% during the forecast period. The progression in smartphone technologies and digitalization can be vital factors augmenting the growth of the global market during the forecast period, states Fortune Business Insights in a report, titled “Global Navigation Satellite System Market Size, Share & Industry Analysis, By Type (Global Constellations, Regional Constellations, Satellite-Based Augmentations), By Application (Rail, Road, Aviation, Maritime, LBS, Time Synch, Agriculture, Surveying and Others), and Regional Forecast, 2025-2032” the market size stood at 301.37 billion in 2024.
The report on thenavigation satellite system (GNSS) marketcovers:
- Extensivestudy of all the sections in the market
- Illuminatingfacts and figures
- Growth exhibitors and inhibitors
- Information about key players
The Report Lists the Key Companies in the Navigation Satellite System Market:
- Qualcomm Inc. (The U.S.)
- Texas Instrument (The U.S.)
- Trimble Inc. (The U.S.)
- Rockwell Collins (The U.S.)
- Broadcom Inc. (The U.S.)
- Hexagon (Sweden)
- Furuno Electric (Japan)
- Laird Plc. (The UK)
- Cobham Plc. (The UK)
- Harris Corporation (The U.S.)
- Topcon Corporation (Japan)
- Other Players
Information Source:
https://www.fortunebusinessinsights.com/global-navigation-satellite-system-gnss-market-103433
Market Driver:
Wide-ranging Commercial Applications of GNSS to Propel Growth
The growing adoption of GNSS in precision agriculture for enhanced agriculture production, better crop yield, and low emission effect will have a tremendous impact on the global market during the forecast period. The utilization of GPS in GNSS in several sectors such as maritime, military, geometrics, railways, and aviation will further incite the development of the industry in the foreseeable future. The growing cognizance about GNSS in agriculture and farming owing to its benefits such as assistance with optimal path and digital displays for reducing risks of overlapping will create lucrative opportunities. Moreover, the utilization of GNSS in automatic steering and biomass monitoring, soil condition monitoring, forest management, virtual fencing, and livestock tracking will fuel its demand in agriculture. Furthermore, the increasing application of GNSS in aircraftperformance-based navigation for safety, efficiency, and reliable operation will further enable speedy expansion of the market in the forthcoming years. In addition, the increasing implementation of 5G, IoT, artificial intelligence (AI) and industrial automation will enhance the growth of the market. Likewise, the high adoption of consumer electronic devices will accelerate the demand of GNSS in the foreseeable future.
Regional Analysis:
Presence of Major OEMs to Aid Expansion in Europe
The market in North America is expected to witness a high growth rate during the forecast period owing to the increasing adoption of the driver advisory system (DAS) in rail applications to optimize traffic flow, less energy, and low cost. The growing implementation of (PTC)positive train control in the US will promote the healthy growth of the market in the forthcoming years. Europe is expected to grow rapidly during the forecast period. The growth in the region is attributed to the presence of major components manufacturers in the region. The increasing adoption of GNSS in the road, Surveying, and maritime applications will further enhance the development of the market in Europe. The market in Asia Pacific is predicted to flourish during the forecast period owing to the growing demand for electronic devices, smartphones, and positioning devices. The growing focus towards robust navigation satellites by India will propel the market in Asia Pacific.
Key Development:
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January 2025 – Trimble and Qualcomm Partner for Advanced Vehicle Positioning
Trimble has partnered with Qualcomm Technologies to develop high-precision positioning solutions for automated vehicles, including cars and heavy-duty trucks. The collaboration integrates Trimble’s ProPoint Go positioning engine, which leverages GNSS signals, with Qualcomm’s Snapdragon Auto 5G Modem-RF Gen 2. This system delivers precise vehicle positioning with an accuracy of up to 10 centimeters, enabling enhanced performance for autonomous applications. -
January 2025 – Hexagon to Acquire Septentrio NV to Boost GNSS Capabilities
Hexagon has entered into an agreement to acquire Septentrio NV, a leading global provider of GNSS technology, to strengthen its Resilient Assured Positioning solutions. The acquisition will enable Hexagon to integrate Septentrio’s advanced GNSS platform with its robust positioning portfolio, enhancing capabilities in anti-jamming, sensor fusion, and reliable satellite navigation technologies. -
June 2024 – Trimble Launches R980 GNSS System for Challenging Environments
Trimble has introduced the R980 GNSS system, a next-generation addition to its receiver portfolio. The system is equipped with the company’s ProPoint positioning engine and tilt compensation technology, offering enhanced accuracy and reliability. Designed for use in urban and difficult environments, the R980 enables users to maintain precise positioning under challenging conditions.
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