Press release
Navigation Satellite Systems Market Emerging Analysis, Future Growth and Business Opportunities 2031
Allied Market Research published a report, titled, "Navigation Satellite Systems Market by Component (Devices, Services), by Type (Global Constellations, Regional Constellations, Satellite-based Augmentation Systems), by Application (Consumer and Health Solutions, Road and Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global navigation satellite systems industry generated $225.30 billion in 2021, and is anticipated to generate $552.20 billion by 2031, witnessing a CAGR of 9.5% from 2022 to 2031.Download Report (PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/10804
Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a positive impact on the global navigation satellite systems market.
Global navigation satellite system (GNSS) has been used for quarantine monitoring and enforcement. It was utilized to set up a virtual perimeter for those people who are in self-quarantine through a process known as geofencing. For instance, in South Korea, government made it mandatory for anyone entering the country to download "Self-Quarantine Safety Protection Application" for their 14-day self-quarantine.
GNSS-based applications have also been used to support precautionary measures. Location measures gained through use of GNSS have helped identify, map, and tag congested places and locations where individuals who have tested positive or have recently travelled. This data enabled the authorities to provide information about the places which need to be avoided.
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Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global navigation satellite systems market, owing to rise in development of cost-effective navigation satellite system and high investment in defense, retail, military, and public transportation sectors. However, the LAMEA region is expected to witness the fastest CAGR of 12.3% from 2022 to 2031. This is due to surge in foreign investments coupled with government investments.
Leading Market Players: -
Furuno Electric
Hemisphere GNSS
Hexagon
L3 Harris Corporation
Laird Plc
Navtech GPS
Qualcomm Inc
Texas Instruments
Topcon Corporation
Trimble Inc.
Garmin Ltd,
Raytheon Technologies Corp.
SkyTraq Technology. Inc.
STMicroelectronics
Broadcom Inc.
Browse Complete Report at
https://www.alliedmarketresearch.com/navigation-satellite-market-A10439
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of ""Market Research Reports"" and ""Business Intelligence Solutions."" AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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