GNSS Simulators Market size to grow from $106 million in 2020 to $165 million by 2025, at a Compound Annual Growth Rate (CAGR) of 9.3%.
Northbrook, IL 60062 -- (SBWIRE) -- 04/21/2022 -- According to a new market research report "GNSS Simulators Market by Component Type (Single Channel and Multichannel), GNSS Receiver (GPS, Galileo, GLONASS, and BeiDou), Application (Vehicle Assistance Systems, Location-based Services, and Mapping), Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets™, the market size to grow from USD 106 million in 2020 to USD 165 million by 2025, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
Various factors such as rapid penetration of consumer IoT, the contribution of 5G in enabling ubiquitous connectivity, and increasing use of wearable devices utilizing location information are expected to drive the adoption of the GNSS simulators hardware, software, and services.
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COVID-19 has shocked the world and sent economies spinning. It was late-2019 when the virus first appeared in the Chinese city of Wuhan. Initially, it only affected China, but its effects started being felt around the globe, with many countries implementing lockdown. The volunteers from Slovakian company Sygic and other technology companies developed a mobile application, aiming to slow down the spread of COVID-19. The technology used GNSS and Bluetooth sensors to determine if the user came into contact with an infected person in the last 14 days. According to a study by Science Daily published in September 2020, the quality of GNSS reflectometry measurements may have improved significantly during the pandemic because of the lack of cars parked near the ground station. The researchers showed that parked cars significantly reduced the quality of the elevation data by scattering the GNSS signals, causing them to be reflected several times before they reached the antenna, like a cracked mirror.
The hardware segment to hold a larger market size during the forecast period
The GNSS simulators market, by component, has been segmented into hardware, software, and services. The hardware segment is expected to account for a larger market size in the coming years in the GNSS simulators market as it enables signal simulations and plays a key role in the simulation process.
The automotive vertical segment to hold higher CAGR during the forecast period
The GNSS simulators market by vertical has been segmented into military and defense, automotive, consumer electronics, aerospace, and marine, and other verticals (agriculture, construction, and rail and road). The automotive vertical segment is expected to hold a higher CAGR during the forecast period in the GNSS simulators market. GNSS offers a cost-effective and accurate way of determining position in real-time. Ride-sharing apps, such as Uber and Lyft, car-sharing, usage-based insurance apps, dynamic toll charging, and parking apps all depend on the real-time location of the car. GNSS offers sufficient accuracy for all these apps by providing location coordinates leading to its adoption in the automotive vertical.
Among GNSS receivers, the GPS segment is expected to account for a larger market size during the forecast period
GNSS receiver has been segmented into GPS, GLONASS, Galileo, BeiDou, and others. The other segments comprise NavIC and QZSS receivers. The satellite tracking service provided by GPS is useful in various commercial and personal applications. The increasing commercial application of GPS vehicle tracking system for taxi companies and cab services is contributing to the rising adoption of GPS location services. It makes the navigation easier by providing relevant details, such as distance and shortest route to the desired location.
North America to hold the largest market size during the forecast period
North America is expected to have the largest market size during the forecast period. The key factor favoring the growth of the GNSS simulators market in North America is the increase in technological advancements coupled with the rise in government support for the adoption of UAVs. The increasing number of players across different regions is further expected to drive the GNSS simulators market globally.
APAC is projected to grow at the highest CAGR during the forecast period it has witnessed considerable developments and adoption of solutions across the region during the forecast period. APAC is home to a large number of GNSS constellations in the world. It has a large potential for GNSS and space-enabled applications. It has a wide consumer base due to its booming economies accompanied by an increasing share of local R&D and technology innovations. This leads to the adoption of GNSS software, hardware, and services in APAC.
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Major vendors in the global GNSS simulators market include Spirent Communications (US), Rohde & Schwarz (Germany), VIAVI Solutions (US), Hexagon (Sweden), Keysight Technologies (US), u-blox (Switzerland), Orolia (US), CAST Navigation (US), Accord Software and System (India), IFEN (Germany), Racelogic (UK), Syntony GNSS (France), Teleorbit (Germany), iP-Solutions (Japan), Pendulum Instruments (Poland), Saluki Technology (Taiwan), Shanghai Huace Navigation Technology Ltd (China), Averna (Canada), GMV NSL (England), Brandywine Communications (US), Jackson Labs Technologies (US), Hunan Shuangln Electronic Technology (China), Work Microwave (Germany), Qascom (Italy), and M3 Systems (France).
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