The high-precision gnss receiver global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
High-Precision GNSS Receiver Market, 2024 report by The Business Research
Company offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The high-precision GNSS receiver market size has grown strongly in recent
years. It will grow from $1.29 billion in 2023 to $1.42 billion in 2024 at a
compound annual growth rate (CAGR) of 9.9%.
The growth in the historic period can be attributed to increasing demand
in robotics, high use in urban planning requirements, use in scientific
research applications, construction industry demand, and increasing use in
surveying and mapping applications.
The high-precision GNSS receiver market size is expected to see strong growth
in the next few years. It will grow to $1.95 billion in 2028 at a compound
annual growth rate (CAGR) of 8.3%. The
growth in the forecast period can be attributed to the growing demand for
autonomous vehicles, growing usage in marine navigation, increasing demand for
environmental monitoring solutions, demand for satellite-based positioning
services, regulatory support and integration. Major trends in the forecast
period include rise in autonomous vehicles and drones, expansion in precision
agriculture, advancements in real-time kinematic (RTK) technology, growing
demand for smart infrastructure, and integration with 5G networks.
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Scope Of High-Precision GNSS Receiver Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
High-Precision GNSS Receiver Market Overview
Market Drivers -
The growing mining industry is expected to propel the growth of the
high-precision GNSS receiver market going forward. The mining industry refers
to the sector encompassing activities related to the exploration, extraction,
processing, and transportation of valuable minerals, metals, and other
geological materials from the earth's crust. The shift towards renewable energy
sources, such as solar panels, wind turbines, and electric vehicles, requires
significant amounts of minerals and metals. High-precision GNSS receivers are
used in the mining sector to enhance operational efficiency, safety, and
productivity by providing accurate positioning and geospatial data for various
applications and enabling better decision-making. For instance, in February
2023, according to a report published by the United States Geological Survey, a
US-based government agency, US mines generated roughly $98.2 billion in nonfuel
mineral commodities in 2022, up $3.6 billion (3.8%) from the projected total of
$94.6 billion for 2021. Therefore, the growing mining industry is driving the
growth of the high-precision global navigation satellite system receiver
market.
Market Trends -
Major companies operating in the high-precision GNSS receiver market are
focusing on the development of innovative technological advancements, such as
the SE868SY-D, a high-precision GNSS receiver, to meet the increasing demand
for advanced positioning and navigation solutions in various industries.
SE868SY-D is a high-precision GNSS receiver module designed for multi-frequency
and multi-constellation applications. For instance, in February 2021, Telit
Communications, a US-based communication device company, launched SE868SY-D, a
high-precision GNSS receiver module. It combines GPS/QZSS and Galileo in the
L1/E1 and L5/E5 bands, GLONASS in the L1, BeiDou in the B1 and B2 bands, IRNSS
in the L5 band, and SBAS to provide improved performance for position reporting
and navigation solutions. Additionally, it use of two frequencies (L1/E1 and L5/E5)
improves location accuracy and reduces multipath effects in urban areas. The
module is designed for applications such as IoT trackers, wearables, and more.
It also offers an evaluation kit (EVK) for testing the functionality of the
module.
The aerospace support and auxiliary equipment market covered in this report is
segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini
Satellite, Micro Satellite, Nano Satellite
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Regional Insights -
Asia-Pacific was the largest region in the high-precision GNSS receiver market
in 2023. The regions covered in the high-precision gnss receiver market report
are Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Major companies operating in the high-precision gnss receiver market are
Raytheon Technologies Corporation, Qualcomm Incorporated, Broadcom Inc., Texas
Instruments Incorporated, Thales Group, Hexagon AB, Trimble Inc., Cobham PLC,
MiTAC Holdings Corp., Topcon Positioning Systems Inc., Hi-Target Surveying
Instrument Co. Ltd., Raven Industries Inc., CHC Navigation Technology Ltd.,
Beijing UniStrong Science And Technology Co. Ltd., Carlson Systems Holdings
Inc., Swift Navigation Inc., Septentrio N.V., Javad GNSS Inc., Unicore
Communications Inc., NavCom Technology Inc., Tersus GNSS Inc., AG Leader
Technology Inc., Geneq Inc., ComNav Technology Ltd., Hemisphere GNSS Inc.
Table of Contents
1. Executive Summary
2. High-Precision GNSS Receiver Market Report Structure
3. High-Precision GNSS Receiver Market Trends And Strategies
4. High-Precision GNSS Receiver Market – Macro Economic Scenario
5. High-Precision GNSS Receiver Market Size And Growth
…..
27. High-Precision GNSS Receiver Market Competitor Landscape And Company
Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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