PUBLISHER: The Business Research Company | PRODUCT CODE: 1464112
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464112
A high-precision GNSS (Global Navigation Satellite System) receiver is a device engineered to receive signals from satellites, employing advanced algorithms and technologies to achieve centimeter-level or even millimeter-level accuracy in positioning.
The main types of products encompassed within high-precision GNSS receivers are core satellite navigation systems, regional satellite navigation systems, and satellite-based augmentation systems (SABS). Core satellite navigation systems encompass primary satellite-based positioning systems offering global coverage and accurate positioning services to users worldwide. This category comprises various components, including devices and services, utilized across diverse applications such as surveying and mapping, astronomy, military and defense, agriculture, and others.
The high-precision GNSS receiver market research report is one of a series of new reports from The Business Research Company that provides high-precision GNSS receiver market statistics, including high-precision GNSS receiver industry global market size, regional shares, competitors with a high-precision GNSS receiver market share, detailed high-precision GNSS receiver market segments, market trends and opportunities, and any further data you may need to thrive in the high-precision GNSS receiver industry. This high-precision GNSS receiver market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed during the historic period can be attributed to several factors, including increasing demand for high-precision GNSS receivers in robotics applications, their extensive use to meet urban planning requirements, utilization in scientific research endeavors, rising demand within the construction industry, and increasing deployment for 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 anticipated growth in the forecast period can be attributed to several key factors, including the increasing demand for autonomous vehicles, expanding usage in marine navigation applications, rising demand for environmental monitoring solutions, growing need for satellite-based positioning services across various industries, and regulatory support facilitating integration. Major trends expected during this period include the rise in autonomous vehicles and drones, expansion in precision agriculture applications leveraging high-precision GNSS receivers, advancements in Real-Time Kinematic (RTK) technology enhancing positioning accuracy, growing demand for smart infrastructure solutions incorporating GNSS technology, and integration with 5G networks to enhance connectivity and performance.
The increasing mining sector is anticipated to drive the expansion of the high-precision GNSS receiver market in the foreseeable future. The mining industry encompasses activities related to the exploration, extraction, processing, and transportation of valuable minerals, metals, and other geological materials from the earth's crust. The transition towards renewable energy sources, such as solar panels, wind turbines, and electric vehicles, necessitates substantial quantities of minerals and metals. High-precision GNSS receivers play a crucial role in the mining sector by improving operational efficiency, safety, and productivity through accurate positioning and geospatial data for various applications, thus facilitating informed decision-making. For example, in February 2023, a report by the United States Geological Survey, a US government agency, revealed that US mines generated approximately $98.2 billion in nonfuel mineral commodities in 2022, marking a $3.6 billion (3.8%) increase from the projected total of $94.6 billion for 2021. Hence, the burgeoning mining industry is fueling the growth of the high-precision global navigation satellite system receiver market.
Major players in the high-precision GNSS receiver sector are concentrating on pioneering technological solutions, exemplified by the SE868SY-D, to address the escalating need for sophisticated positioning and navigation solutions across various industries. The SE868SY-D stands as a high-precision GNSS receiver module engineered for multi-frequency and multi-constellation applications. Telit Communications, a communication device company based in the United States, introduced the SE868SY-D in February 2021. This module integrates 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, thereby enhancing performance for position reporting and navigation solutions. Moreover, its utilization of two frequencies (L1/E1 and L5/E5) augments location accuracy while mitigating multipath effects in urban locales. Tailored for applications such as IoT trackers, wearables, and beyond, the SE868SY-D also offers an evaluation kit (EVK) for comprehensive functionality testing.
In October 2023, CNH Industrial N.V., a prominent UK-based agricultural machinery corporation, finalized the acquisition of Hemisphere GNSS for a sum of $175 million. This strategic move reinforces CNH's leadership in precision, automation, and autonomy technology within the agriculture and construction sectors. The acquisition is poised to accelerate CNH's development initiatives, enhance its product lineup, and secure a competitive advantage in the marketplace over the long term. Hemisphere GNSS, renowned for its high-precision GNSS receivers and positioning tools, brings valuable capabilities and expertise to complement CNH's offerings.
Major companies operating in the high-precision gnss receiver market report 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.
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.
The countries covered in the high-precision gnss receiver market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The high-precision GNSS receiver market consists of revenues earned by entities by providing services such as positioning services, navigation services, precision agriculture services, and geodetic and scientific research services. The market value includes the value of related goods sold by the service provider or included within the service offering. The high-precision GNSS receiver market also includes sales of single-frequency GNSS receivers, multi-frequency GNSS receivers, differential GNSS (DGNSS) receivers, OEM GNSS receiver modules, GNSS antennas and accessories, and real-time kinematic GNSS receivers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
High-Precision GNSS Receiver Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high-precision GNSS receiver market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for high-precision GNSS receiver ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high-precision GNSS receiver market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.