The European GNSS Agency’s (GSA) GNSS Market Report was featured during a recent Market Insight Webinar organised by GPS World. It presented the relevant findings and shared insights and opinions on the evolution of the GNSS market.
A recent GPS World Market Insight Webinar presented the fourth edition of the GSA’s Market Report. Organized by GPS World Magazine, the webinar acquainted participants with the top-line results and findings from the Market Monitoring and Forecasting Process carried out by GSA.
GPS World Managing Director Tracy Cozzens moderated the discussion, and the GSA’s Head of Market Development Gian Gherardo Calini and Market Development Officer Justyna Redelkiewicz presented the report. Thales Alenia Space Belgium CEO and Director Peter Grognard, who was the guest speaker, discussed the most important findings in the report and reiterated the valuable contribution that the study provides to organisations that operate within the GNSS market.
More than 200 people from around the globe tuned in to listen.
A Very Attractive Market
The discussion focused on the global GNSS market, paying particular attention to shipments, revenues and installed base of receivers, along with providing a forecast through 2023.
According to the report, the GNSS device market is experiencing a phase of rapid growth and is expected to increase 12.7% year-over-year between 2013 and 2023. Participants agreed that this presents a very attractive market, with volumes and revenues driven by mass-market segments, and in particular for location-based services (LBS) and transport applications.
As to the benefits of multi-constellation GNSS, the report says that more than 60% of all GNSS receivers support a minimum of two constellations, and more than 20% are able to receive navigation signals from all four available constellations. Moreover, the report highlights how the trend towards multi-GNSS receivers is expected to be further intensified in the coming years when a new generation of low-cost, multi-frequency receivers appear on the market. The driving market segment for this technology will be automotive and other machine-to-machine applications, where the issue of power consumption is not as critical as in other personal, portable consumer devices.
Also read: A Glance into the GNSS Crystal Ball
Answering questions from the audience, the GSA noted that the most significant GNSS market trends over the next three years will involve further integration of various technologies and constellations for better performance, an even more dominant position of smartphone devices, and an increased role for the Asia-Pacific region.
The discussion made it very clear that we are facing a very dynamic industry driven by innovation. As stated in the report, the four macro-trends driving the development GNSS industry (smart cities, multimodal logistics, big data and the Internet of things) are hot topics – verified by the feedback received and the over 10,000 downloads of the report since its launch.
Growing Interest in UAV’s and Wearables
Unmanned aerial vehicles (UAVs) were a particular topic of interest for the audience, specifically as they relate to the development of the GNSS industry. Although the UAV market was not quantified in this edition of the Market Report, other sources estimate it to be around $7 billion – with forecasts predicting a steady increase of annual revenues over the next decade.
Panellists agreed that UAVs can support market growth, allowing new applications to emerge in different markets, including: surveying, mapping, scientific research, film and photography, agriculture, communication, and more.
Another interesting question was the impact of wearables on the GNSS market. This is a very dynamic market segment with a 700% year-on-year increase during the first half of 2014 for devices such as high-end smart watches, fitness wristbands and glasses. North America and Europe are the leading regions in terms of shipments, with 7.5 million units sold in 2014 – a number expected to increase to 14 million units by 2023.
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