Engaging market stakeholders in the development of innovative and effective GNSS applications, value-added services and user technology is a core function of the GSA. The GSA’s Market Development Department extensively monitors the GNSS downstream market, mining and distilling intelligence and making market forecasts to support European businesses and the global GNSS marketplace.
An introduction to the GNSS market
Global navigation satellite systems (GNSS) allow users with compatible devices to determine their position, velocity and time by processing signals from satellites. GNSS signals are provided by a variety of satellite positioning systems, including global constellations (Galileo, GPS, GLONASS, BeiDou), regional systems (e.g. QZSS and IRNSS) and satellite-based augmentation systems (SBAS), such as EGNOS or WAAS.
The global GNSS downstream market revenues from both devices and services are forecast to grow from €150 billion in 2019 to €325 billion in 2029 with a CAGR of 8%. This growth is mainly due to revenues from mass market and mid-end devices (<€150) and from augmentation services.
The lower-end receiver segment will see growth skyrocket by 16% per year between 2019 and 2029, while revenues from augmentation services are set to grow steadily from €23 billion to nearly €65 billion over the 10-year period. Although shipments of high-end receivers (>€1000) account for less than 1% of total shipments, they contribute more than 10% of global receiver revenues (€12 billion in 2029).
Services relying on GNSS technology to create added-value for users represent the biggest revenue stream for the GNSS market. In 2029, revenue from added-value services will account for €166 billion, or more than half of total global GNSS revenue.
The Road and Consumer Solutions segments dominate by far all other market segments in terms of cumulative revenue, with a combined total of 93.3% for the 2019-2029 forecasting period. In the Road sector, most revenues are generated by in-vehicle systems (IVS), advanced driver-assistance systems (ADAS) and fleet management, whereas Consumer Solutions revenues mainly come from the data revenues of smartphones and tablets using location-based services.
More than 50% of the remaining revenue will be generated by Agriculture and Geomatics. The main revenue-generating applications in Agriculture are variable rate technologies (VRT) and automatic steering, while the primary source of revenue in Geomatics is cadastral and construction surveying.
To learn more about the GNSS market, please download our latest GNSS market report.