GNSS Devices Market, 38% of Growth to Originate from APAC, Technavio
NEW YORK, April 30, 2024 /PRNewswire/ -- The global GNSS devices market size is estimated to grow by USD 32.1 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 9.52% during the forecast period. APAC is estimated to contribute 38%. to the growth of the global market.
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The GNSS Devices Market report forecasts market growth by revenue at global, regional & country levels from 2018 to 2028.
Region Outlook
- North America
- Europe
- APAC
- South America
- Middle East & Africa
3. APAC - The Asia-Pacific (APAC) region is set to play a big role in the global GNSS devices market growth, contributing around 38% during the forecast period. Experts at Technavio have laid out the regional trends and drivers that shape this market. Countries like South Korea, Japan, and China are making significant contributions to this growth.
- One big reason behind this surge is the increasing demand for location-based services and GPS-enabled devices. Another key driver is the growing need for GNSS chips in cars, especially as autonomous vehicles become more common.
- These vehicles rely on advanced GPS technology for better navigation and safety features. As a result, the demand for GNSS devices is expected to keep rising, which will further drive the market growth in the coming years.
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Research Analysis
Navigation satellite systems, like GNSS devices, are essential for homeland security, defense, marine, and space industries. They rely on a constellation of satellites and a satcom network to provide vital satellite services. Investments in this technology are crucial for big data applications in agriculture, maritime navigation, and cyber-attack prevention.
The fusion of 5G and GNSS enhances navigation accuracy, aiding in driverless technologies and unmanned vehicles. Precision agriculture benefits from GNSS data for optimized farming practices. Consumer electronic devices increasingly integrate GNSS capabilities for location services.
Maritime and inland waterways benefit from GNSS devices, ensuring safe navigation. Interoperability among different systems ensures seamless communication. Understanding frequency band signals is key for efficient GNSS operations.
Bankmycell, a leading provider of consumer and health solutions, leverages GNSS technology for innovative products. 5G-capable infrastructure supports the growing demand for GNSS-enabled devices. While initial costs may vary, the reliability of GNSS devices is crucial in safeguarding against cyber-attacks.
Market Overview
The Navigation Satellite System (GNSS) Devices Market is a crucial component of homeland security and defense, ensuring precision in marine and terrestrial navigation. With a constellation of satellites forming the backbone, GNSS provides essential satellite services for various sectors like agriculture, maritime navigation, and consumer electronic devices. Investments in GNSS technology continue to grow, driven by the need for big data solutions and defense against cyber-attacks.
The fusion of 5G and GNSS enhances navigation capabilities, facilitating driverless technologies and unmanned vehicles. Precision agriculture benefits from GNSS data, optimizing resource usage and increasing yields. Consumer and health solutions leverage GNSS for location-based services, while interoperability ensures seamless communication across different systems.
The market demand for GNSS devices, equipped with 5G-capable infrastructure, is rising, despite initial cost considerations. Bankmycell, a leading provider, offers consumer-friendly GNSS devices, safeguarded against cyber attacks. With GNSS-enabled devices becoming ubiquitous, their role in ensuring safe maritime and inland waterway navigation remains paramount, supported by robust frequency band signals and reliable satellite navigation systems.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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