Press release
Positioning Services Global Market Analysis, Trends, Growth, Research And Forecast 2033
Positioning Services Global Market
As per the report, the positioning services market size has grown rapidly in recent years. It will grow from $27.25 billion in 2023 to $30.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The positioning services market size is expected to see rapid growth in the next few years. It will grow to $51.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%.
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Autonomous Vehicles Driving Growth In Positioning Systems Market
The increasing number of autonomous vehicles is expected to propel the growth of the positioning services market going forward. Autonomous vehicles are self-driving vehicles that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing number of autonomous vehicles is due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Highly accurate and reliable positioning services are critical for developing and operating autonomous and self-driving vehicles, improving the functionality and safety of automotive vehicles. For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, there are expected to be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles drives the positioning services market.
Developing GNSS Precise Point Positioning (PPP) Services To Revolutionize Location-Based Applications
Major companies operating in the positioning services market are developing innovative solutions such as GNSS Precise Point Positioning (PPP) services to enhance location-based applications' accuracy, reliability, and efficiency across various industries. GNSS Precise Point Positioning (PPP) is an advanced global navigation satellite system (GNSS) data processing technique that provides highly accurate location information by correcting various error sources in the GNSS signals. For instance, in July 2021, Fugro, a Netherlands-based surveying services company, launched the SpaceStar GNSS Precise Point Positioning (PPP) service. This service provides high-accuracy positioning in space for the first time by delivering real-time sub-decimetre absolute positioning and nanosecond-level timing onboard Low Earth Orbit (LEO) satellites. The service also enables enhanced space situational awareness, precise thruster optimization, proximity operations, auto docking, Earth observation applications, and RF geolocation
The positioning services market covered in this report is segmented -
1) By Type: Indoor Positioning, Outdoor Positioning
2) By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
3) By End-User: Transportation And Logistics, Defence And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users
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Major companies operating in the positioning services market are Stonex Group Inc., Qualcomm Inc., Honeywell International Inc., Broadcom Inc., Texas Instruments Inc., STMicroelectronics NV, Hexagon AB, Garmin Ltd., Nikon Corporation, Rockwell Collins Inc., Trimble Inc., Topcon Corporation, Leica Geosystems AG, TomTom N.V,, NovAtel Inc., CHC Navigation, Eos Positioning Systems, Avidyne Corporation, Hemisphere GNSS Inc., Javad GNSS Inc., Septentrio Inc., Spectra Geospatial, ComNav Technology Ltd., Geneq Inc., Pentax Corporation, Kolida Instrument Co. Ltd.
Contents of the report:
1. Executive Summary
2. Positioning Services Market Report Structure
3. Positioning Services Market Trends And Strategies
4. Positioning Services Market - Macro Economic Scenario
5. Positioning Services Market Size And Growth
…..
27. Positioning Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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