GNSS Devices Market: Introduction
- GNSS refers to global navigation satellite system. This device allows users to determine their position and velocity at a specific time by transmitting signals from satellites.
- Globally, GNSS and positioning is a significantly growing geospatial technology segment.
GNSS Devices Market Dynamics
- The growing demand for precise location information is stimulating the growth of the GNSS devices market.
- Rapidly expanding demand for smartphones and smart consumer electronic devices has augmented the demand for GNSS devices.
- Increasing demand for IoT enabled consumer devices is expected to create ample growth opportunities for GNSS devices across the world.
- Technological advancements in GNSS devices such as powerful processors, superior power batteries, and improved satellite signal processing are expected to drive the growth of the GNSS devices market. Numerous applications of GNSS devices in the IT and engineering sector has contributed largely to the growth of the GNSS devices market.
- Supportive government initiatives for development of smart cities is expected to boost the growth of the GNSS devices market.
- However, inability of GNSS devices to provide accurate indoor, underwater, or underground navigation is expected to be a major factor limiting the growth of the GNSS devices market in the upcoming years.
- In addition, GNSS devices consume substantial power. This is expected to hamper the adoption rate of these devices among users, thereby limiting the growth of the market in the coming years.
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GNSS Devices Market: Segmentation Analysis
- On the basis of device type, the global GNSS devices market can be divided into smartphones, personal navigation devices, and in-vehicle systems.
- The smartphones segment accounted for major market share in 2018 due to growing use of location-service features on smartphones. This segment is projected to maintain its dominance in the global GNSS devices market throughout the forecast period.
- On the basis of end-user industry, the GNSS devices market is segmented into automotive, agriculture, maritime, rail, aerospace & defense, and other end-user industries.
- Application of GNSS devices in automotive industry accounted for leading market share due to rising demand for location-based services.
North America to Lead the Global GNSS Devices Market
- In terms of region, the global GNSS devices market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is likely to dominate the global GNSS devices market from 2019 to 2027, followed by Europe and Asia Pacific. Rising demand from the LBS (location-based services) sector, intense competition among vendors, and launch of new products in North America are some of the key factors likely to drive the GNSS devices market in the region in the next few years.
- Moreover, technological developments in autonomous driving, and growing demand and innovation in wearable and connecting devices has boosted the demand for GNSS devices in North America.
- Europe accounted for a considerable share of the global GNSS devices market in 2018, due to advancements in technology in the region
- The GNSS devices market in Asia Pacific is anticipated to expand at a rapid pace in the near future due to large base of manufacturing companies and the speedy adoption of connected devices.
- The GNSS devices market in Asia Pacific is largely impacted by the rapidly expanding demand from populous nations including China and India for GNSS enabled solutions and applications.
Key Manufacturers Operating in the Market
The global GNSS devices market was moderately concentrated in 2018 with presence of few regional and international GNSS devices market players who occupy prominent share in the market. These vendors are engaged in offering varied products to end-users and adopt different strategies to remain relevant in this competitive environment. Key manufacturers operating in the global market are:
- Qualcomm Technologies, Inc.
- Mediatek Inc.
- STmicroelectronics N.V.
- Skyworks Solutions Inc.
- Furuno Electric Co. Ltd
- Intel Corporation
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Global GNSS Devices Market: Research Scope
GNSS Devices Market, by Device Type
- Personal Navigation Devices
- In-vehicle Systems
GNSS Devices Market, by End-use Industry
- Aerospace & Defense
- Other End-use Industries
Global GNSS Devices Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.