Dublin, May 28, 2020 (GLOBE NEWSWIRE) -- The "Global Navigation Satellite System (GNSS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis and the looming economic recession, the Global Navigation Satellite System (GNSS) market worldwide will grow by a projected US$73.5 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 5.7%. Road, one of the segments analyzed and sized in this study, is forecast to grow at over 5.2% and reach a market size of US$109 Billion by the end of the analysis period.
The global analysis and forecast periods covered are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Road market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.6% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$2.2 Billion to the region's size over the next 7 to 8 years. In addition, over US$2.2 Billion worth of projected demand in the region will come from Rest of the European markets. In Japan, the Road segment will reach a market size of US$5.3 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Global Navigation Satellite System (GNSS) market.
Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 9.4% over the next couple of years and add approximately US$19.3 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Global Navigation Satellite System (GNSS) market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Navigation Satellite System (GNSS): A Prelude
- GPS, GLONASS, Beidou/BDS, Galileo and NAVIC: A Comparison of GNSS Platforms
- Recent Market Activity
- Economic Benefits Offered Create Conducive Environment for Wider Proliferation
- Expanded Use Case & Wide Addressable Market Keep Market Momentum Intact
- High Tide in Satellite Services Sector Lends Platform for Market Growth
- Global Positioning System (GPS): The Widely Adopted GNSS Platform
- Full-Fledged Roll Out of GPS III to Further Augment Commercial Use of GPS
- Developed Regions: Key Revenue Contributors
- High-Growth Opportunities in Developing Regions
- Bright Prospects Ahead for GNSS Solutions Market
- Global Competitor Market Shares
- Global Navigation Satellite System (GNSS) Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- Avidyne Corporation (USA)
- Collins Aerospace (USA)
- FEI-Zyfer, Inc. (USA)
- Furuno USA, Inc. (USA)
- Garmin International, Inc. (USA)
- Hemisphere GNSS Inc. (Canada)
- Hexagon AB (Sweden)
- Leica Geosystems AG (Switzerland)
- NovAtel, Inc. (Canada)
- KVH Industries, Inc. (USA)
- L3Harris Technologies, Inc. (USA)
- Microsemi Corporation (USA)
- MiTAC International Corporation (Taiwan)
- Magellan Navigation, Inc. (USA)
- Mio Technology Benelux N.V. (Belgium)
- Navman New Zealand (New Zealand)
- NavCom Technology, Inc. (USA)
- Navico, Inc. (USA)
- Orolia Group (France)
- Raytheon Company (USA)
- TomTom International B.V. (The Netherlands)
- Topcon Corporation (Japan)
- Trimble Navigation Limited (USA)
3. MARKET TRENDS & DRIVERS
- Road Applications: Important End-Use Category for GNSS Solutions
- As Satellite Navigation Becomes a Core Technology Block for Connected Car Systems & Autonomous Driving, Automotive Industry Emerges as a Key Revenue Pocket
- Intelligent Highway & ITS Favor Adoption of GNSS
- Expanding Role of Telematics in Fleet Management & Asset Tracking Augurs Well
- Driverless Cars: A Bright Prospect for High-End GNSS Systems
- Mining Entities Prefer GNSS for Machine Control Applications
- GNSS Gains Prominence in Infrastructure Development & Road Construction
- Increased Uptake of LBS Propagates Huge Growth Opportunities
- Advanced Surveying/Mapping Technologies Widen Scope & Span of GNSS
- Integration of GNSS Improves Architectural Survey Process
- Growing Lenience towards GIS Instigates New Opportunities for GNSS
- Aviation: A Niche End-Use Market for GNSS
- Healthy Commercial Aviation Outlook Bodes Well
- Rise of Unmanned Aircraft Extends New Set of Opportunities
- GNSS Extends its Proficiency in Marine Applications As Well
- Military & Defense: The Traditional Application Segment for GNSS/GPS Devices
- GNSS Continues to be a Specialized Tool for Timing Applications
- GNSS Assumes Critical Importance in Agriculture Sector
- Precision Farming Programs Lend Platform for GNSS in Agriculture Sector
- GNSS Emerges as Viable Tool for Georeferencing
- GNSS for Ecology & Geology Study Programs
- GNSS Seeks to Emerge as Disaster Prediction Tool
- GPS and HazMat Tracking - A Critical Use
- GNSS Makes Huge Progress in Mobile Devices
- Convergence with Smartphones: The Path-breaking Development for GNSS
- Handheld GNSS/GPS Devices Gain Mass Market Appeal
- Smart GPS Devices Outwit Traditional GPS Units - Attract New Opportunities
- Traditional GNSS Device Manufacturers Focus on Innovations amid Growing Competition from Smartphones
- Fitness & Sports: Fast Emerging Application Areas
- Technology Developments: The Lifeline for Commercial GPS Devices
- High-Precision Receivers Elevate Performance of GPS
- Augmentation Technologies Enhance Geographic Reach & Reliability of GPS
- Growing Availability and Declining Device Prices Provide Growth Impetus
- Availability of Economical GPS Chips Boost Commercial Application
- Affordable GPS Devices Rise in Popularity
- Wireless Connectivity Drives GPS Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 57
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