The future looks bright for the global GNSS market, as the sector is witnessing a steady growth and upsurge in demand.
At present, a whopping 5 billion GNSS devices are in use around the world and is expected to grow to 8 billion by 2020 – an estimate of more than one device per person on the planet.
The upswing in trend has come from the increasing demand for smartphones in the developing economies, finds GSA’s GNSS Market Report 2017, which was released on Wednesday.
The Asia-Pacific region, in particular, has seen a massive growth in demand, not solely because of the people becoming more tech savvy, but also because of surge in their purchasing power. Another prominent reason is that the region is amongst the most populated in the world, thereby, boosting the consumer market more in the developing countries than the developed countries.
Even though the professional market has always seen a widespread popularity in the GNSS market, it is the consumer market that is garnering the credit. The GNSS-enabled smartphones, which is a most popular platform to support mobile Location-Based Services, has hugely contributed to the success story.
Meanwhile, the report also notes that the professional services market has also seen an upswing, with demand coming from sectors like roads and the agriculture. However, this trend is largely limited to the developed world. Home to leading component manufacturers, system integrators and service providers, the United States continues to lead the global GNSS market. Accounting for a quarter of global revenues, Europe has claimed the second rank in 2015. It is estimated that the annual revenues of GNSS market will hit $211.89 billion in 2025.
Carlo des Dorides, Executive Director, European GNSS Agency (GSA) also advocates this trend and has said in the report, “The growing demand for precise location information, in combination with the ongoing evolution of GNSS technology, means that today’s GNSS market is bigger than ever. With an estimated 5 billion GNSS devices in use around the world – a number expected to grow to 8 billion by 2020 – GNSS has become a ubiquitous technology.”
Some of the new and emerging GNSS trends by market segment are:
LBS: More and more smartphones integrate multi-constellation GNSS, boosting GNSS performance. Over 90% of context-aware apps now rely on GNSS.
Road: GNSS answers the need of Autonomous Driving (AD) for reliable and accurate positioning OEMs and technology companies are leading the development of Autonomous Vehicle encouraged by governments.
Aviation: The aviation market continues to increasingly rely on GNSS, including rotocraft and unmanned vehicles. SAR beacons manufacturers are developing solutions for Aircraft Distress Tracking leveraging GNSS.
Rail: GNSS-enabled solutions can offer enhanced safety for lower cost, e.g. in railway signaling. GNSS is becoming a generic system widely used in non-safety relevant applications.
Maritime: GNSS has become the primary means of obtaining PNT information at sea. SAR beacon manufacturers are preparing for multi-constellation GNSS.
Agriculture: GNSS applications represent a key enabler for the integrated farm management concept. Drone uptake in agriculture is increasing, accounting for over half of the commercial market.