Navigation Satellite Systems Market Analysis 2021-2031 : Component, Type, Application, Competitive Landscape, and Trend Insights

According to a new report published by Allied Market Research, titled, "𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐧𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐨𝐧 𝐬𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐𝟐𝟓.𝟑𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟓𝟓𝟐.𝟐𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟗.𝟓% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏."

Asia-Pacific is expected to dominate the global navigation satellite market in 2031. The adoption of navigation satellite system is expected to increase in countries such as India, China, Japan, and others, owing to rise in development of cost-effective navigation satellite system, and high investment in defense, retail, military, and public transportation sectors. The market is driven by rise in commercial applications, increase in adoption of mobile devices; and greater need for high speed internet services.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A10439

The growth of the global navigation satellite market share is propelling due to increase in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services. However, cyber-attacks impacting navigation satellite systems, and inaccuracy in GNSS data are the factors that hamper the growth of the GNSS market. Furthermore, fusion of 5G and GNSS is the factor expected to offer growth opportunities during the forecast period.

The navigation satellite industry is segmented on the basis of type, component, application, and region. On the basis of type, it is segmented into global constellations, regional constellations, and satellite-based augmentations. By component, it is classified into devices and services. By services, it is further bifurcated into added-value services and augmentation services. On the basis of application, it is fragmented into consumer and health solutions, road & automotive, and others.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/navigation-satellite-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID-19 crisis has created uncertainty in the navigation satellite market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. Governments of different regions have already announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.

However, GNSS (Global Navigation Satellite System) has been used for quarantine monitoring and enforcement, where it is 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 & 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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 :
https://www.alliedmarketresearch.com/purchase-enquiry/A10439

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By component, the services segment is anticipated to exhibit significant growth in the near future.

By type, the satellite-based augmentation systems segment is anticipated to exhibit significant growth in the near future.

By application, the others segment is anticipated to exhibit significant growth in the near future.

By region, LAMEA is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global navigation satellite market include, 𝐁𝐫𝐨𝐚𝐝𝐜𝐨𝐦 𝐈𝐧𝐜., 𝐅𝐮𝐫𝐮𝐧𝐨 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜, 𝐆𝐚𝐫𝐦𝐢𝐧 𝐋𝐭𝐝. 𝐇𝐞𝐱𝐚𝐠𝐨𝐧 𝐀𝐁, 𝐋𝟑𝐇𝐚𝐫𝐫𝐢𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐋𝐚𝐢𝐫𝐞𝐝 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐯𝐢𝐭𝐲, 𝐍𝐚𝐯𝐭𝐞𝐜𝐡 𝐆𝐏𝐒, 𝐐𝐮𝐚𝐥𝐜𝐨𝐦𝐦 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐈𝐧𝐜., 𝐑𝐚𝐲𝐭𝐡𝐞𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐒𝐤𝐲𝐓𝐫𝐚𝐪 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, 𝐈𝐧𝐜., 𝐒𝐓𝐌𝐢𝐜𝐫𝐨𝐞𝐥𝐞𝐜𝐭𝐫𝐨𝐧𝐢𝐜𝐬 𝐍.𝐕., 𝐓𝐞𝐱𝐚𝐬 𝐈𝐧𝐬𝐭𝐫𝐮𝐦𝐞𝐧𝐭, 𝐓𝐨𝐩𝐜𝐨𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐓𝐫𝐢𝐦𝐛𝐥𝐞 𝐈𝐧𝐜., 𝐚𝐧𝐝 𝐔𝐧𝐢𝐒𝐭𝐫𝐨𝐧𝐠 (𝐇𝐞𝐦𝐢𝐬𝐩𝐞𝐫𝐞 𝐆𝐍𝐒𝐒).

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