The GNSS market is developing rapidly. Demand for precise location information is also growing and the evolution of GNSS technology is ongoing. In this environment, the 6th issue of the GSA GNSS Market Report, officially launched today, is a valuable tool enabling all stakeholders to skilfully navigate and benefit from the flourishing GNSS market.
The 6th issue of the GSA’s GNSS Market Report provides comprehensive information on the dynamic global GNSS market along with in-depth analysis of the latest global trends and developments.
Key findings from the report:
- Global GNSS downstream market revenue from both devices and services will grow from €150 bln in 2019 to €325 bln in 2029;
- The global installed base of GNSS devices in use will increase from 6.4 bln in 2019 to 9.6 bln in 2029;
- In 2017, European companies accounted for an estimated 27% of the global GNSS market;
- In 2029, revenue from GNSS added value services will amount to €166 bln, accounting for 51% of total global GNSS revenue.
Growth on the GNSS market will be stimulated by global macro trends such as digitalisation, big data, the sharing economy and artificial intelligence, all of which use GNSS for position, navigation and timing. In combination with other technologies, GNSS will also contribute to tackling the climate change challenge by supporting environmentally friendly transport solutions, sustainable agriculture and meteorological monitoring.
To read the report in full, download it for free here.
A valuable resource
“The GNSS market is at a very exciting stage in its development and will expand rapidly in the coming years. By offering a comprehensive overview of the current market situation, along with forecasts of how the market is likely to develop to 2029, the latest issue of the GSA Market Report is a valuable resource for all GNSS market stakeholders,” says GSA Executive Director Carlo des Dorides. “This is a real tool that European companies can use to develop their market entry strategies for new products and services.”
Regularly referenced by policy-makers and business leaders around the world, the GNSS Market Report serves as the go-to resource for anybody requiring an in-depth look at GNSS market opportunities and trends across key market segments.
“The analysis and data-based forecasts in the GNSS Market Report are eagerly awaited by all GNSS market stakeholders. The previous issue of the Market Report was downloaded over 60,000 times since it was published in 2017, and the report has served as a key tool for GNSS market players from global corporations and SMEs to R&D organisations and academia,” said GSA Chief Operating Officer Pascal Claudel. “The high number of downloads is a clear indicator of the value that is placed on the unique blend of GNSS market intelligence and expertise that the GSA and its staff has acquired over the years,” he said.
What’s new in issue 6?
In the 2019 edition of the GNSS Market Report, the number of GNSS market segments reviewed has increased to 10: Consumer Solutions, Road, Manned Aviation, Drones, Maritime, Emergency Response, Rail, Agriculture, Geomatics and Critical Infrastructure.
This allows more specific and accurate findings:
- Road and Consumer Solutions dominate all other market segments in terms of cumulative revenue, and will account for a combined 93.3% in 2019-2029;
- Of the remaining revenue, more than 50% will be generated by Agriculture and Geomatics;
- Drones have become a significant GNSS market segment, exceeding mature segments such as maritime, aviation and agriculture in terms of shipments.
The New Space market is the focus of the Editor’s Special section in this year’s report. This section examines key trends behind the rapid growth in the number of spacecraft in use, with a particular focus on growth in private low Earth orbit (LEO) service providers and on Galileo’s contribution to the Space Service Volume (SSV).
“In the latest version of the GNSS Market Report, we have updated the market segments to better reflect the actual situation on the market. This section of the report provides analysis of key trends and recent developments in each segment, along with predictions on how the market will evolve, allowing readers to keep track of developments as they unfold on this dynamic market,” said Fiammetta Diani, the GSA’s Head of Market Development.
Media note: This feature can be republished without charge provided the European GNSS Agency (GSA) is acknowledged as the source at the top or the bottom of the story. You must request permission before you use any of the photographs on the site. If you republish, we would be grateful if you could link back to the GSA website (http://www.gsa.europa.eu).